O.C.G.A. § 23-2-28 (2019)
Equitable interference not authorized by mutual ignorance of fact; mistake in judgment of value
Ignorance of a fact by both parties shall not justify the interference of equity; nor shall a mistake in judgment or opinion merely as to the value of property authorize such interference.
History
Orig. Code 1863, § 3060; Code 1868, § 3072; Code 1873, § 3127; Code 1882, § 3127; Civil Code 1895,
§ 3985; Civil Code 1910, § 4582; Code 1933, § 37-210.
Annotations
JUDICIAL DECISIONS Lack of knowledge is not considered a mistake of fact for purposes of reformation. B.L. Ivey Constr. Co. v. Pilot Fire & Cas. Co., 295 F. Supp. 840 (N.D. Ga. 1968). A mere mistake in judgment or opinion as to the value of property does not authorize interference by the courts. Hargrove v. Bledsoe, 78 Ga. App. 107, 50 S.E.2d 223 (1948). Cited in Beddingfield v. Old Nat’l Bank & Trust Co., 175 Ga. 172, 165 S.E. 61 (1932); Dobbs v. Perlman, 59 Ga. App. 770, 2 S.E.2d 109 (1939); Sawyer Coal & Ice
Co. v. Kinnett-Odom Co., 192 Ga. 166, 14 S.E.2d 879 (1941); Orient Ins. Co. v. Dunlap, 193 Ga. 241, 17 S.E.2d 703 (1941); Nalley v. New York Life Ins. Co., 48 F. Supp. 470 (N.D. Ga. 1943); City of Jefferson v. Trustees of Martin Inst., 199 Ga. 71, 33 S.E.2d 354 (1945); Wheeler v. Poole, 204 Ga. 477, 50 S.E.2d 326 (1948); Adler v. Adler Co., 205 Ga. 818, 55 S.E.2d 13 (1949); James v. Tarpley, 209 Ga. 421, 73 S.E.2d 188 (1952); Cline v. Schuster, 221 Ga. 653, 146 S.E.2d 732 (1966); Long v. Walls, 226 Ga. 737, 177 S.E.2d 373 (1970).
RESEARCH REFERENCES Am. Jur. 2d. - 27 Am. Jur. 2d, Equity, § 22. C.J.S. - 30 C.J.S., Equity, § 44 et seq. ALR. - Conscious ignorance of fact, as distinguished from mistake of fact, as ground for reformation of contract, 137 A.L.R. 908. Relief, by way of rescission or adjustment of purchase price, for mutual mistake as to quantity of land, where contract of sale fixes compensation at a specified rate per acre or other area unit, 153 A.L.R. 4. Mistake as to existence, practicability of removal, or amount of minerals as ground for relief from mineral lease, 163 A.L.R. 878.
Relief by way of rescission or adjustment of purchase price for mutual mistake as to quantity of land, where the sale is in gross, 1 A.L.R.2d 9. Effect, as between stockbroker and customer, of broker’s mistaken sale of security other than that intended by customer, 48 A.L.R.3d 513. Vendor and purchaser: mutual mistake as to physical condition of realty as ground for rescission, 50 A.L.R.3d 1188. Modern status of rules as to avoidance of release of personal injury claim on ground of mistake as to nature and extent of injuries, 13 A.L.R.4th 686.