# Mutual Material Mistake Agreement
**This Mutual Material Mistake Agreement (the "Agreement") is made and entered into as of [Date], by and between:**
**[Party A Name]**
Address: [Party A Address]
Phone: [Party A Phone]
Email: [Party A Email]
**and**
**[Party B Name]**
Address: [Party B Address]
Phone: [Party B Phone]
Email: [Party B Email]
**(Collectively referred to as the "Parties").**
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## Recitals
WHEREAS, the Parties entered into a certain agreement dated [Original Agreement Date] (the "Original Agreement") concerning [Describe Subject Matter of the Original Agreement]; and
WHEREAS, both Parties have now discovered that there exists a mutual material mistake related to [Specify Nature of Mistake] that materially affects the Original Agreement; and
WHEREAS, the Parties wish to resolve this issue amicably and to clarify their intentions regarding the terms of the Original Agreement.
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## Agreement
**NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Parties agree as follows:**
1. **Identification of Mistake**
The Parties acknowledge that a mutual material mistake occurred regarding [Detailed Description of the Mistake]. This mistake involves [Specify Relevant Details].
2. **Resolution of the Mistake**
The Parties agree to [Describe the resolution of the mistake, e.g. amend the terms of the Original Agreement, rescind the Original Agreement, etc.]. The terms of this resolution are as follows:
- [Detail Term 1]
- [Detail Term 2]
- [Detail Term 3]
3. **Release**
Upon execution of this Agreement, the Parties mutually release each other from any claims, liabilities, or obligations arising from the Original Agreement as it pertains to the identified mistake.
4. **Governing Law**
This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of laws principles.
5. **Entire Agreement**
This Agreement constitutes the entire understanding between the Parties with respect to the subject matter hereof and supersedes all prior agreements, discussions, and understandings, whether written or oral.
6. **Binding Effect**
This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, successors, and assigns.
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**IN WITNESS WHEREOF**, the Parties have executed this Mutual Material Mistake Agreement as of the date first above written.
**[Party A Signature]**
___________________________
[Party A Name]
Date: ________________
**[Party B Signature]**
___________________________
[Party B Name]
Date: ________________
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**Note:** It is advisable for the Parties to seek legal counsel prior to executing this Agreement to ensure compliance with applicable laws and the protection of their rights.