... with a moderate degree of certainty and hence to maximise their freedom of action."2 Both doctrines are concerned with the impossibility of performance of the contract. In Great Peace3 the Court of Appeal considered that common mistake is analogous to the doctrine of frustration. However frustration, unlike common law mistake, does not render a contract void ab initio. The frustrating event automatically releases both parties from their obligations under the contract, but the contract exists up to the point of the frustrating event. It really comes down to a question of timing.4 Contract may be set aside on the ground of common mistake only if the contracting parties make mutual mistake at the time of entering into the contract. Each knows the intention of the other and accepts it but each is mistaken about some underlying and fundamental fact. In a situation where an unforeseen event occurs after the contract ...

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