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LGLA1351-Chapter 6

Basic Contract Law for Paralegals

AnswerQuestion
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
Created by: dawnbryant