– Contract reformation is designed to correct errors in a written contract to reflect the true intentions of the parties.
– Reformation of a written contract is appropriate in Florida when there is a mutual mistake or when one party acts inequitably or fraudulently causing the other party to make a unilateral mistake.
– Courts in Florida have the power to reform a written instrument when it does not accurately express the true intention or agreement of the parties. – The Supreme Court of Florida allows for contract reformation to correct defective written instruments to accurately reflect the true terms of the agreement actually reached.
– A reformation relates back to the time the instrument was originally executed and corrects the document’s language to read as it should have from the beginning.
– Parol evidence, such as oral statements made leading up to a writing, may be utilized to support the reformation in equity court actions. 1. Florida courts do not have the power to create a new contract when reforming an instrument.
2. The purpose of reformation is to correct a defective instrument to reflect the true terms of the agreement reached by the parties.
3. Reformation can only be decreed when it is established that an agreement exists to which the writing may be made to conform.
4. Courts must demonstrate that it was the intent of each party to incorporate the changes in a contract reformation.
5. Equitable reformation is based on the principle that parties should be bound to the terms they agreed upon.
https://www.jimersonfirm.com/blog/2012/04/understanding-how-contracts-can-be-equitably-reformed-under-florida-law/
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