This error might have several causes. To fix it, you can check the storage of your device and see if you got enough space on your internal memory in order to install the application. If your space is low, try moving some applications to your external card. To do that, you can go to Settings -> Application -> All tab; you can tap on any application and select Move to SD Card. After that, try to reboot your device. This might help. Also, you can go to Settings -> Storage -> Preferred install location and unselect SD card.
If none of this is working, you should consider a reset of your device to the factory settings. This will erase all your data from it but it might fix the problem.