the Act. Acordingly, the New Zealand legislature in taking these considerations into account by
the Contracts and Commercial Law Reform Committee implemented the Contractual Mistakes
Act of New Zealand 1977.
Thus, it is postulated that the solution to the controversy surrounding the Great Peace decision
on the law of common mistake lies in legislative intervention, and a useful guide to what the
content of such legislation should possess can be found in the Contractual Mistakes Act 1977 of
New Zealand.
CONCLUSION
The law on common mistake consists of three categories. (a) common mistake as to the existence
of the subject matter of the agreement, (b) common mistake as to the