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law 7
| Term | Definition |
|---|---|
| duress | threats, violence, constraints, or other action brought to bear on someone to do something against their will or better judgment. |
| fraud | the act of using deception, lies, or misrepresentation to gain money, property, or unfair advantage |
| fraudulent misrepresentation | a deliberate, false statement about a material fact made to induce someone into an agreement, |
| genuine assent | the requirement in contract law that all parties voluntarily and knowingly agree to the terms |
| innocent misrepresentation | when a party to a contract makes a false statement of fact, which induces another party to enter the agreement |
| material fact | information significant enough to influence a reasonable person's decision to enter into a contract |
| mutual mistake | when both parties to a contract share the same erroneous belief regarding a material fact that is central to the agreement |
| ratification | the action of signing or giving formal consent to a treaty, contract, or agreement, making it officially valid |
| rescission | the revocation, cancellation, or repeal of a law, order, or agreement |
| undue influence | influence by which a person is induced to act otherwise than by their own free will or without adequate attention to the consequences |
| unilateral mistake | when only one party is mistaken about a material fact or term, while the other party is not |
| void | a state of complete emptiness, a, legal, or functional nullity |
| voidable | a legally valid agreement that can be affirmed or rejected at the option of one of the parties, typically due to defects like duress |
Created by:
Mshaw27