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Possible adjustment in the consideration or a pro rata payment, depending on whether the contract is divisible

May relieve the dependent party from performing or provide grounds for termination of the contract

Original contractual obligations are discharged and replaced with the new agreement

Potential claim for breach and recovery of damages or right to reject the performance

Breach of contract, entitling the non-breaching party to remedies such as damages or cancellation

Potential for a claim of breach and recovery of damages to compensate for the difference in value

Non-breaching party can treat the contract as breached and may sue for damages immediately

Contract may be discharged if an unforeseen event undermines the contract's principal purpose

Contract can be voided or rescinded if one party was forced to enter into it under a threat of harm

Contract may be voidable if one party unfairly influenced the other, often due to a relationship of trust

Contract may be voidable or subject to reformation if the mistake significantly affects the agreement

Discharges the parties from obligations due to an unforeseeable event rendering performance objectively impossible

Contract can be rescinded if one party entered based on a material false statement by the other

Original contract is extinguished and a new one with different parties takes its place

A contract may be void or voidable if a party lacked capacity to contract or if the contract is for illegal purposes

Contract is generally enforceable unless the non-mistaken party knew or should have known of the error

May result in the contracting party being entitled to damages for the incomplete portion, not contract termination

Provided in the UCC; excuses a party when performance becomes excessively difficult or expensive

Can lead to damages for the delay or contract cancellation if time is of the essence