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Law Chapter 7

TermDefinition
Duress Defense or justification claiming a person was coerced into committing an illegal act
Fraud Intentional deception, trickery, or misrepresentation of material facts made to induce another
Fraudulent Misrepresentation Civil tort occurring when a party intentionally or recklessly makes a false statement
Genuine Assent Foundational contract law principle requiring that all parties enter an agreement
Innocent Misrepresentation Contract law concept where a party makes a false statement
Material Fact Information essential to a reasonable person’s decision-making process regarding a transaction
Mutual Mistake Occurs when both parties share the same erroneous belief
Ratification Official approval, confirmation, or validation of an act
Rescission Legal cancellation of a contract, treating it as void
Undue Influence Excessive, coercive persuasion by a dominant party that overpowers another
Unilateral Mistake Concept where only one party is mistaken about a material fact or term regarding an agreement.
Void An action, document, contract, or ruling has no legal effect, force, or binding power from its inception
Voidable Valid, binding agreement that one party has the legal option to reject or enforce.
Created by: cgonzalez2800
 

 



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