Explanation of Article 55
This article addresses the concept of "mutual mistake," which is an incorrect perception of reality that occurs with both contracting parties. The article stipulates that a mutual mistake leads to the "nullification of the contract," and thus it does not produce any legal effect.
It is worth noting that a mutual mistake differs from an individual mistake in that an individual mistake occurs with one of the contracting parties, whereas a mutual mistake occurs with both contracting parties.
A mutual mistake results in the "nullification of the contract," and thus it does not produce any legal effect.
Related To
Article 55
The dispositions of guardians and trustees that are within the limits prescribed by legal provisions shall be deemed valid.