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'Our conclusion is that it is impossible to reconcile Solle v Butcher with Bell v Lever Brothers Ltd. The jurisdiction asserted in the former case has not developed. It has been a fertile source of academic debate, but in practice it has given rise to a handful of cases that have merely emphasised the confusion of this area of jurisprudence.' (Lord Phillips MR in Great Peace Shipping v Tsavliris Salvage (International) Ltd 2002). Discuss. The area of jurisprudence to which Lord Phillips MR here refers centres around the question of the extent to which the validity of a contract is affected by a common but mistaken belief held by the parties at the commencement of the contract. The relationship between the role of the common law and the role of equity in this area has been the source of much confusion over the years. In Solle v Butcher (1950) Lord Denning...

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