Chapter 8 Homework

Language of the Law

  1. A(n) misrepresentation is an innocent statement of untrue facts.
  2. Securing an unfair or unlawful gain through deliberate deception is fraud.
  3. A(n) unilateral mistake is an error on the part of one of the parties to a contract.
  4. Overcoming a person’s will by use of force or threat of force is duress.
  5. Making a false representation by not saying something that should be said is concealment.
  6. Unfair and improper persuasive pressure is undue influence.
  7. Threatening a person’s business or income to cause that person to enter a contract without real consent is economic duress.
  8. A(n) bilateral mistake has been made if both parties to a contract are mistaken about some important fact.
  9. Persons who are induced to enter into contracts by fraud can rescind the contract.
  10. A(n) material fact is something that is important; it matters to one of the parties.

Review Questions

  1. A unilateral mistake is a mistake made by one party and a bilateral mistake is a mistake made by both parties.
  2. The two types of bilateral mistaken are the mistake as to the possibility of performance and mistake as to the subject matter. Either party may avoid the contract.
  3. Fraud is a deliberate deception to secure an unfair or unlawful gain.
  4. Fraud is a deliberate deception to secure an unfair or unlawful gain and concealment is false representation by not saying something that they should say.
  5. Fraud is a deliberate deception to secure an unfair or unlawful gain and misrepresentation is untrue statements of facts.
  6. duress is overcoming a person’s will by use of force or by threat of force or bodily harm and undue’ influence is unfair and improper persuasive pressure exercised by one person in a relationship of trust with another person.
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