Capacity, Legality, and Enforceability
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| A definition of the term contractual capacity would be: | the ability to enter into a contractual relationship
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| The general rule with respect to minors who enter into contracts is: | some contracts may be avoided by the minor
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| A usurious contract is one that involves: | an illegally high rate of interest
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| In an exculpatory clause: | one party releases the other party from liability in the event of monetary or physical injury, no matter who is at fault
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| If you do not voluntarily consent to a contract, you may: | rescind or cancel the contract
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| Mistakes of fact occur in two forms. What are they? | unilateral and bilateral (mutual)
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| If a party to a contract has an intent to deceive the other party, this is known as: | scienter
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| Elements of fraud include: | there must be an intent to deceive, the innocent party must have justifiably relied on the misrepresentation, and the misrepresentation must concern a material fact
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| The following are covered by the Statute of Frauds: | a contract for the sale of land, a contract for the sale of a new car, the contract for the sale of the right to walk across your neighbor's yard in order to get to the beach
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| Under the common law, a written memorandum evidencing an oral contract must include: | the essential terms
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Created by:
ashbob12
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