Incorrectcontact and billing information

[panic99]

Guys, past year I accidently signed a contract with incorrect information about my company. Both billing and company principal place are incorrect. Partner started to work on the contract points, but, when he sent me a bill, I found that the address and payment detailes are incorrect. I'm in panic because I should have notice that before!
Now my CEO insists that the contract must be void because of serious mistake in important detailes, and other party should have no payment.
Is it correct? This partner is important and it would be a fail to loose it such a way. We have correct site inserted, but both company name, principal place and billing are not ours, but some similiar company with similiar address.

Please, advice, does the contract really should be void?

Seems, I'm in big trouble(( I promised to work with that company.

PS: contract was signed in California laws.

 

[OHRoadwarrior]

It depends on whether there was a detrimental reliance on the info. For example if your business address is in the projects and you gave a Beverly Hills address, that might affect a decision regarding a small business. Contact the other party, make the corrections and see if they raise objections.

 

[panic99]

Thank you

It depends on whether there was a detrimental reliance on the info. For example if your business address is in the projects and you gave a Beverly Hills address, that might affect a decision regarding a small business. Contact the other party, make the corrections and see if they raise objections.

.

OHRoadwarrior, thank you for your advice.
Unfortunately the guy inserted incorrect firm name and instead of correct legal address at least used I don't know what even, but situated near my office.

I told that it's incorrect and should be changed, but partner stands on it's legal, and moreover he had already provided it to a third party.

That situation damages my own business reputation of specialist. What I want is just to have a correct contract.

 

[quincy]

Guys, past year I accidently signed a contract with incorrect information about my company. Both billing and company principal place are incorrect. Partner started to work on the contract points, but, when he sent me a bill, I found that the address and payment detailes are incorrect. I'm in panic because I should have notice that before!
Now my CEO insists that the contract must be void because of serious mistake in important detailes, and other party should have no payment.
Is it correct? This partner is important and it would be a fail to loose it such a way. We have correct site inserted, but both company name, principal place and billing are not ours, but some similiar company with similiar address.

Please, advice, does the contract really should be void?

Seems, I'm in big trouble(( I promised to work with that company.

PS: contract was signed in California laws.

From the Restatement (Second) of Contracts: Where a mistake of both parties at the time a contract was made, as to a basic assumption on which the contract was made, has a material effect on the agreed exchange of performance, the contract is voidable by the adversely affected party.

From the Restatement (Second) of Contracts: A misrepresentation is material if it would be likely to induce a reasonable person to manifest his assent, or if the maker knows it would be likely to induce the recipient to do so. If the other party is justified in relying on the misrepresentation, the contract is voidable by the adversely affected party.

If you listed the name and address of a competing company in the contract, for example, whereby the other party reasonably assumed that he was contracting with this other company, the contract signed between your company and the other party can be voidable.

If the mistake is one that does not affect the agreement in a material way, the mistake should be a correctable one. I question how a mistake of the sort you made could be possible or left unnoticed.

I suggest you have the facts personally reviewed by an attorney in your area, especially if there is a substantial amount of money involved.