Can a court vacate a judgment and enter a new judgment?

Section 663 authorizes a trial court to vacate a judgment and enter a new judgment under the following circumstances: "A judgment or decree, when based upon a decision by the court . . . may, upon motion of the party aggrieved, be set aside and vacated by the same court, and another and different judgment entered, for either of the following causes, materially affecting the substantial rights of the party and entitling the party to a different judgment: [] 1. Incorrect or erroneous legal basis for the decision, not consistent with or not supported by the facts; and in such case when the judgment is set aside, the statement of decision shall be amended and corrected. [] 2. A judgment or decree not consistent with or not supported by the special verdict." "It is designed to enable speedy rectification of a judgment rendered upon erroneous application of the law to facts which have been found by the court or jury or which are otherwise uncontroverted." (Forman v. Knapp Press (1985) 173 Cal.App.3d 200, 203.)