Mistakes in a contract setting can either be unilateral or mutual. A unilateral mistake is where only one party is mistaken as to one of the terms in the contract. Generally speaking, a unilateral mistake does not make the contract void, so long as the other party did not take advantage of the mistake, and the mistake was not a result of some sort of misrepresentation or fraud. On the other hand, a mutual mistake is where both parties are mistaken regarding a key factual matter in the contract. Unlike a unilateral mistake, the existence of a mutual mistake will usually make the contract void.