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Bus Law Review Chap 8 9

Here is a review for your test on Chapter 8 and 9. - Genuine Agreement and Capacity to Contract.

AB
Bilateral MistakeAnother name for mutual mistake.
Undue InfluenceUnfair and improper persuasive presure exerted by one in a position of trust on another.
MaterialFraud consists of false statements about this kind of fact.
DuressOvercoming the will of another by the use of force or by threat of force or bodily harm.
RescindThe party injured by a defective agreement may avoid or do this.
Unilateral MistakeA mistake made by only one of the parties.
FraudA deliberate attempt to decieve a party.
MisrepresentationAn innocent statement of a supposed fact that turns out to be false is known as.
ConcealmentAnother name for nondisclosure.
Economic DuressA threat of a business nature to cause another, without real consent to enter a contract.
AlienA person who is living in this country but owes allegiance to another country.
CapacityIncompetent persons lack this.
DisaffirmMinors may avoid or ??? their contracts if they choose.
GuardianA person who looks after the affairs of an incompetent person
InfancyIn legal terms this is the same thing as minority.
MajorityWhen a person is no long a minor, she or she reaches the age of ????.
MinorA person who has not yet reach the age of majority.
MinorityA person who has not yet reacher his/her 18th birthday.
NecessariesMinors are held responsible for the fair value of these.
RatifyMinors may approve or do this to their contracts if they choose.


Ms. Saylor

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