7-1,2

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Author:
Anonymous
ID:
117602
Filename:
7-1,2
Updated:
2011-11-17 20:48:00
Tags:
buisness
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Description:
7-1,2
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  1. If one party uses physical threats to obtain another party's signature, there is no _________ between them
    Genuine Assent
  2. If there is no genuine assent, the apparent contract is
    voidable
  3. A(n) _________ occurs when one party backs out of a transaction by asking for the return of what they gave and offering to give back what they have recieved
    rescission
  4. _________ is conduct suggesting the intention to be bound by a contract
    ratification
  5. When one party to a contract is in a position of trust and wrongfully dominates the other party, _________ occurs
    undue influence
  6. The threat to engage in illegal conduct to win agreement is always considered
    duress
  7. The two key elements in undue influence are the relationship and the wrongful or unfair
    persuasion
  8. Duress can occur when the threa to _________ is really made for a purpose unralated to the suit
    sue
  9. An incorrect belief by both parties
    mutual mistake
  10. a crime that is based on misrepresentation
    fraud
  11. something that must end when a true statement is made false by subsequent events
    silence
  12. important details that influence the parties' contract decision
    material facts
  13. something that must be proved to establish fruad
    injury
  14. a statement made by a party who did not know it was untrue
    innocent misrepresentation
  15. another name for mutual mistake
    bilateral mistake
  16. a substitute for a false statement of fact
    active concealment
  17. an incorrect belief by one of the parties in a contract
    unilateral mistake
  18. a statement made by a party who knew it was untrue
    fradulent misrepresentation

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