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settlement agreement because he mistakenly signed the agreement
not recognizing that the $30,000 of rental income was listed as a
term thereof. We disagree that we should disregard the signed
agreement for the reason that petitioner states. Even if
petitioner had mistakenly signed the document as claimed, such a
unilateral mistake is not a sufficient ground to set aside an
otherwise enforceable settlement agreement. See Stamm Intl.
Corp. v. Commissioner, 90 T.C. 315 (1988) (holding that a
unilateral mistake by respondent’s counsel, absent
misrepresentation by the other party, was insufficient to set
aside a settlement agreement). Such is especially so given that
petitioner is a practicing attorney and that his signing of the
settlement agreement was on the eve of his trial. See id. at
321-322.
To reflect the foregoing,
An appropriate order and decision
will be entered in accordance with
respondent’s computations.
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Last modified: May 25, 2011