This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
Upon rescission for mistake the party who has performed in part may recover the value of his performance.1 If the parties believe that they have entered into a contract, but by reason of mistake no valid contract exists, one who has furnished property or services under such contract may recover a reasonable compensation therefor if the specific property can not be returned to him in specie.2
1 Long v. Inhabitants of Athol, 196 Mass. 497, 17 L. R. A. (N.S.) 96, 82 N. £. 665; Lee v. Laprade, 106 Va. 594, 117 Am. St. Rep. 1021, 56 S. £. 719.
2 Peerless Glass Co. v. Pacific Crockery & Tinware Co., 121 Cal. 641, 54 Ac. 101; Long v. Inhabitants of Athol, 196 Mass. 497, 17 L. R. A. (N.S.) 96, 82 N. E. 665.