Student Law Review Issue 1 | Page 69

 CONTROVERSY IN COMMON MISTAKE EXACERBATED IN GREAT PEACE In the case of Great Peace Shipping v Tsalviris Ltd. T had entered into a contract with Great Peace to salvage it from distress at sea. At the time of the contract, both parties thought that Great Peace was actually much closer to the salvage site than the distance it actually was. Thus, when T discovered this, they decided to hire another ship and they sought to cancel the contract with Great Peace on the basis of common mistake, and pay nothing to them, in respect of hire charges. The Court Of Appeal held that the mistake was not sufficiently fundamental to render the contract void at common law. The court took the view that the contract was still possible to be performed, since Great Peace would have still been able to carry out the contract, although later than T expected. The court went at length to describe the controversy surrounding common mistake over the years, and paid particular attention to the contributions of Bell and Solle to this area of jurisprudence. Lord Atkin’s formulation of declaring a contract void at law in the case of Bell, was seen to be equally confusing as Lord Denning’s formulation of when to declare a contract as voidable in equity, in the case of Solle. Both tests were said to have left out the precise parameters of what is meant by ‘fundamental.’ The court believed that Solle did not supplement the common law in Bell, but in fact contradicted Bell. Ultimately, the court came to the conclusion in Great Peace, that Solle was wrongly decided and had in fact caused major complexities in the law of common mistake. 88 The court accordingly made a bold move by stating the following requirements for a common mistake to be fundamental. “(a) There must be a common assumption as to the existence of a state of affairs, (b) there must be no warranty by either party that that state of affairs exist, (c) the non-existence of the state of affairs must not be attributable to the fault of either party, (d) the non-existence of the state of affairs must render performance of the contract impossible, (e) the state of affairs may be the                                                               88 [2002] EWCA Civ 1407; [2002] 4 All ER 689, para 157-160  68