BLAW CH 13 T/F
Generally, if there is a good faith dispute over a matter, a person's threat to file a lawsuit to resolve that dispute is considered improper
False
Ratification ends the right to rescind a contract
True
A party who has the right to rescind a contract may do so at any time
False
A famous journalist predicted the result of an NBA match between the LA Groves and the LA Phantoms in favor of the Phantoms, based on the present form of Groves. Accordingly, Mark placed a huge bet on the Phantoms and lost heavily. This is an example of misrepresentation of material fact of a contract
False
The legal term for innocent misrepresentation is "scienter"
False
Threats to institute legal actions cannot be considered improper threats that constitute duress
False
While economic pressure may amount to undue influence, it cannot constitute duress
False
A contract may be voidable even if the person making the misrepresentation believes in a good faith that what he/she says is true
True
A party injured by fraud in a contract for the sale of goods can both rescind the contract and sue for damages
True
Concealment involves the active hiding of the fact, while nondisclosure is the failure to volunteer information
True
In order for unilateral mistake to make a contract voidable, either the non mistaken party must have caused or had reason to know of the mistake, or enforcement of the contract must be unconscionable
True
Mutual mistake is more likely to make a contract voidable than is unilateral mistake
True
The threat to institute a criminal prosecution against another party in order to force that party into a contract is almost always duress
True
Undue influence cases often involve a relationship of trust and confidence between the contraction parties
True
When one of the parties offers a disproportionally small amount of money in settlement of a debt and refuses to pay more, it is a form of economic duress
True