diff --git a/src/inquirer/questions.py b/src/inquirer/questions.py
index 06085ef..e9f0692 100644
--- a/src/inquirer/questions.py
+++ b/src/inquirer/questions.py
@@ -226,7 +226,7 @@ def validate(self, current: str):
         except (ValueError, OSError) as e:
             raise errors.ValidationError(e)
 
-        if self._exists and not path.exists():
+        if (self._exists is True and not path.exists()) or (self._exists is False and path.exists()):
             raise errors.ValidationError(current)
 
         # os.path.isdir and isfile check also existence of the path,
diff --git a/tests/unit/test_question.py b/tests/unit/test_question.py
index 085ded7..0c84c9d 100644
--- a/tests/unit/test_question.py
+++ b/tests/unit/test_question.py
@@ -330,10 +330,33 @@ def do_test(path_type, path, result=True):
             do_test(questions.Path.DIRECTORY, some_existing_dir)
             do_test(questions.Path.DIRECTORY, some_non_existing_dir, False)
             do_test(questions.Path.DIRECTORY, some_existing_file, False)
-
         finally:
             shutil.rmtree(root)
 
+    def test_dir_and_file_same_name(self):
+        root = pathlib.Path(tempfile.mkdtemp())
+        some_file = root / "foo"
+        some_dir = root / "foo/"
+
+        def do_test(exists, type):
+            q = questions.Path("test", exists=exists, path_type=type)
+            with self.assertRaises(errors.ValidationError):
+                q.validate(str(some_dir))
+
+        some_file.touch()
+        try:
+            do_test(exists=True, type=questions.Path.DIRECTORY)
+            do_test(exists=False, type=questions.Path.DIRECTORY)
+        finally:
+            some_file.unlink()
+
+        some_dir.mkdir()
+        try:
+            do_test(exists=True, type=questions.Path.FILE)
+            do_test(exists=False, type=questions.Path.FILE)
+        finally:
+            some_dir.rmdir()
+
     def test_default_value_validation(self):
         root = pathlib.Path(tempfile.mkdtemp())
         some_non_existing_dir = root / "some_non_existing_dir"