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