What is contract rectification?

Contract rectification refers to the process of correcting an obvious mistake in a contract to reflect the true intentions of the parties involved. It occurs when there is a clear error, such as a typographical mistake or misrepresentation, that does not align with what both parties initially agreed upon. The goal is to ensure that the contract accurately represents the agreement made, allowing for a fair execution of the terms.

In many cases, rectification is sought when one of the parties discovers that the written contract does not capture the essence of what was discussed and agreed upon during negotiations. This process often requires evidence that the mistake occurred and might involve legal action if the parties cannot resolve the issue amicably.

The other options focus on different aspects of contract management, such as formal reviews, contract cancellations, or negotiations, but they do not adequately capture the specific nature of rectification, which is solely about correcting clear and obvious mistakes.