Business Law 2301 Ch. 10 Quiz

For a mutual mistake to interfere with legal consent, it must involve all but which of the following?

A non-material effect on the agreement

The essential elements of fraud include all but which of the following?

An innocent misrepresentation

Major obstacles to genuine assent include all but which of the following?

Conscionability

A(n) __________ results from a false statement about a fact material to an agreement that the person making the statement believed to be true.

Innocent misrepresentation

A __________ is an untruthful assertion by one of the parties about a material fact

Misrepresentation

A __________ mistake is an error made by both parties to the agreement.

Mutual

__________ is present when the party accused of making the fraudulent assertion believed that the assertion was false or made the claim without any regard for whether it was true or false.

Scienter

All but which of the following conditions would permit a court to invalidate a contract on the grounds of unilateral mistake?

The mistake was so serious that the contract is conscionable.

__________ refers to those special relationships in which one person has taken advantage of his or her dominant position in a relationship to unduly persuade the other person.

Undue influence

A __________ mistake is the result of an error by one party about a material fact.

Unilateral