| A | B |
|---|
| occurs when one party uses an improper threat or act to obtain an expression of agreement | duress |
| intentional misrepresentation of an existing, important fact | fraud |
| party to a contract knows that a statement he or she made is untrue | fraudulent misrepresentation |
| agreement to enter into a contract that is evidenced by words or conduct between the parties | genuine asset |
| party to a contract does not know that a statement he or she made is untrue | innocent misrepresentation |
| important facts that influence both parties' decisions about a contract | material facts |
| both parties to a contract have an incorrect belief about an important fact | mutual mistake |
| money a court requires a defendant to pay in order to punish a person who inflicted an injury | punitive damages |
| acting toward the contract as though one intends to be bound by it; principal's assent to unauthorized acts of an agent | ratification |
| backing out of the transaction by asking for the return of what you gave and offering to give back what you received | recission |
| occurs when one party to a contract is in a position of trust and wrongfully dominates the other party | undue influence |
| occurs when one party holds an incorrect belief about the facts related to a contract | unilateral mistake |
| without legal effect | void |
| contract in which the injured party can withdraw, thus cancelling the contract | voidable contract |
