Under New York law, reformation of contract is an equitable remedy allowing the court to rewrite a contract that does not accurately reflect the mutual intentions of the parties. Where the contracting parties agree to modify the contractual language, litigation is not needed. However, where the proposed reformed language benefits one party to the detriment of the other, litigation often ensues. To seek reformation of a contract, a party must show either a mutual mistake made by both parties or a unilateral mistake by one party caused by the fraudulent behavior of the other.
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