Common mistake:theoretical justification and remedial inflexibility

Discusses the implications for the doctrine of common mistake of the Court of Appeal ruling in Great Peace Shipping Ltd v Tsavliris Salvage (International) Ltd on whether a contract for the hire of a ship was void on the ground of common mistake regarding the position of the ship. Reviews the origins of the doctrine of common mistake and the relationship between the doctrine and the implication of terms. Considers the determination of impossibility. Examines the role of equity in common mistake and remedial equitable intervention.