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LGLA1351-Chapter 6
Basic Contract Law for Paralegals
Answer | Question |
---|---|
Contract of adhesion | contract entered into when one party has an unfair bargaining position; voidable |
Duress | force or coercion used to induce agreement to contract |
Economic duress | threatening loss of economic benefit to induce a person to contract |
Fraud | a misrepresentation of a material fact made with the intent to deceive; relied on by the other party to his or her detriment |
Mental duress | psychological threats used to induce a person to contract |
Misrepresentation | misstatement of a material fact relied on by the other party to his or her detriment; no intent to defraud |
Mistake | misconception of the subject matter of a contract by both parties; unenforceable |
Physical duress | threatening physical harm to force a person to contract |
Undue influence | mental duress by a person in a close and particular relationship to the innocent party |
Unilateral mistake | misconception of the subject matter of a contract by only one party to the contract; may be enforceable |