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7.1_cj
Question | Answer |
---|---|
Genuine assent | Agreement to enter into a contract that is evidence by words or conduct between the parties |
Voidable | Contract in which the injured party can withdraw, thus cancelling the contract |
Rescission | Backing out of the transaction by asking for the return of what you gave and offering to give back what you recieved |
Ratification | Acting toward the contract as though one intends to be bound by it; principal's assent to unauthorized acts of an agent |
Duress | Occurs when one party uses an improper threat or act to obtain an expression of agreement |
Undue influence | Occurs when one party to a contract is in a position of trust and wrongfully dominates the other party |