Library/Business/Business Law: Text and Cases, Eleventh Edition/Mistakes, Fraud, and Voluntary Consent

Mistakes, Fraud, and Voluntary Consent

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Questions

Question 1

A contract that is otherwise valid may be rendered unenforceable if the parties have not genuinely agreed to its terms. Which of the following is considered a factor that can undermine voluntary consent?

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Question 2

What is the key distinction between a mistake of fact and a mistake of value in contract law?

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Question 3

In the case of Raffles v. Wichelhaus, where two ships named Peerless were sailing from Bombay, why did the court conclude a mutual mistake had been made?

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Question 4

What is the first exception to the general rule that a unilateral mistake of fact does not provide relief from a contract?

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Question 5

Which of the following is NOT one of the three required elements to prove fraudulent misrepresentation?

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Question 6

What is the legal term for the element of fraudulent misrepresentation that signifies an 'intent to deceive'?

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Question 7

If a person makes a statement they believe is true but that actually misrepresents a material fact, what remedy is typically available to the aggrieved party?

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Question 8

When is reliance on a misrepresentation NOT justified?

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Question 9

To recover damages for fraud, what must an innocent party universally prove?

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Question 10

What is the essential feature of undue influence?

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Question 11

In the case *Roberts v. Century Contractors, Inc.*, what was the material fact about which both parties were mistaken?

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Question 12

According to the ruling in *Vokes v. Arthur Murray, Inc.*, when can a statement of opinion be considered actionable as a misrepresentation of fact?

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Question 13

What is the legal term for a contract written exclusively by one party and presented to the other on a take-it-or-leave-it basis?

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Question 14

Under what circumstances is economic duress typically found to be a valid defense against contract enforcement?

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Question 15

What type of misrepresentation occurs if a party fails to exercise reasonable care in uncovering or disclosing facts, or does not use the skill their profession requires?

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Question 16

What is the primary factor that courts look at to determine if a contract is procedurally unconscionable?

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Question 17

When does a presumption of undue influence arise in a contractual relationship?

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Question 18

A court remedy that allows a contract to be rewritten to reflect the parties' true intentions is known as what?

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Question 19

In *Simpson v. MSA of Myrtle Beach, Inc.*, the court found the arbitration clause to be substantively unconscionable because it did what?

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Question 20

A seller's statement such as 'This car will last for years and years' is typically considered what in contract law?

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Other chapters

Introduction to Law and Legal ReasoningCourts and Alternative Dispute ResolutionCourt ProceduresConstitutional Authority to Regulate BusinessNegligence and Strict LiabilityIntellectual Property and Internet LawCriminal Law and Cyber CrimeNature and TerminologyAgreementConsiderationCapacity and LegalityThe Statute of Frauds—Writing RequirementThird Party RightsPerformance and DischargeBreach of Contract and RemediesE-Contracts and E-SignaturesThe Formation of Sales and Lease ContractsTitle, Risk, and Insurable InterestPerformance and Breach of Sales and Lease ContractsWarranties and Product LiabilityThe Function and Creation of Negotiable InstrumentsTransferability and Holder in Due CourseLiability, Defenses, and DischargeChecks and Banking in the Digital AgeCreditors' Rights and RemediesSecured TransactionsBankruptcy LawAgency Formation and DutiesLiability to Third Parties and TerminationEmployment and Labor LawEmployment DiscriminationSole Proprietorships and FranchisesPartnerships and Limited Liability PartnershipsLimited Liability Companies and Special Business FormsCORPORATIONS—Formation and FinancingCORPORATIONS—Directors, Officers, and ShareholdersCORPORATIONS—Merger, Consolidation, and TerminationCORPORATIONS—Securities Law and Corporate GovernanceLaw for Small BusinessesAdministrative LawConsumer LawEnvironmental LawAntitrust LawPersonal Property and BailmentsReal Property and Landlord-Tenant RelationshipsInsuranceWills and TrustsProfessional Liability and AccountabilityInternational Law in a Global Economy