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ch14 bus law
Question | Answer |
---|---|
A mistake of fact cannot be unilateral | false |
A contract is always enforceable even if one party is aware that the other party made a mistake of fact | false |
If a price quotation contains a mistake in the adding of a number of figures, the contract may not be enforceable | true |
Overestimating the value of an object is a mistake for which a court will normally provide relief | false |
A mistake in judgment as to value is a ground to avoid a contract | false |
An innocent party can enforce a fraudulent contract | true |
Misrepresentation of a material fact is an element of fraud | true |
A statement of opinion is generally subject to a claim of fraud | false |
Misrepresentation of a material fact can occur only through words | false |
Intent to deceive is an element of fraud | true |
Forcing someone to enter into a contract through fear created by threats is duress | true |
An adhesion contract can occur in a one-sided transaction in which one party has substantially superior bargaining power | true |
Jill and Karl contract for the sale of Jill's horse. Unknown to either party, the horse has died. Karl is | not required to pay due to the mutual mistake |
A Company and B Properties, Inc., contract a sale of a mall. A mutual mistake of fact will make it possible for either party to rescind the contract | if the mistake of fact is material |
Great City and HCC enter into a contract that includes pages of detailed estimates. Great City, discovers that some numbers were added incorrectly, but HCC refuses to make changes. A court would most likely | reform the contract to reflect the figures accurately |
May is a stockbroker. Due to May's statements, Nora believes that the price of stock, is going to increase. Nora buys 500 shares but the price drops. Nora can successfully recover | nothing |
Gina induces Hu to enter into a contract for the purchase of a condominium about which Gina knowingly misrepresents a number of material features. When Hu discovers the truth, Hu can | rescind the contract on the basis of fraud |
In selling software to Payroll Services Corporation, Ray tells Payroll's purchasing agent that the software is "almost human." This is | puffery |
Allen, who is Beth's guardian, convinces her to buy a certain parcel of land from Chris at a greatly inflated price. Allen may be liable for | undue influence |
Gary threatens physical harm to force Hugh to sell his business, Imported Goods, Inc., to Gary for a below-market price. This is | duress |