Which of the Following Is True Regarding the Elements That

Multiple Choice

Which of the following is true regarding the elements that must be satisfied in order for a mutual mistake to interfere with legal consent?

A) The required elements are: (1) a basic assumption about the subject matter of the contract, and (2) an admission by one of the parties that a misrepresentation occurred.
B) The required elements are: (1) a basic assumption about the subject matter of the contract, and (2) a material effect on the agreement.
C) The required elements are: (1) a basic assumption about the subject matter of the contract, and (2) an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement.
D) The required elements are: (1) a basic assumption about the subject matter of the contract, (2) an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement, and (3) a material effect on the agreement.
E) The required elements are: (1) a basic assumption about the subject matter of the contract, (2) an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement, (3) a material effect on the agreement, and (4) fraud.