28-2-410. What constitutes mistake of law. Mistake of law constitutes a mistake, within the meaning of this part, only when it arises from:

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(1)a misapprehension of the law by all parties, all supposing that they knew and understood it and all making substantially the same mistake as to the law; or

(2)a misapprehension of the law by one party of which the others are aware at the time of contracting but which they do not rectify.