| A | B |
|---|
| silence | What must end when a true statement is made false by subsequent events? |
| innocent | A statement made by a party who didn't know it was untrue is called ______________ |
| unilateral | What kind of mistake involves an incorrect belief by one of the parties in a contract? |
| mutual | What kind of mistake involves an incorrect belief by both parties about an important fact? |
| bilateral | What is another name for a mutual mistake? |
| concealment | A statement made by a party who knew it was untrue is called a(n) ________ |
| material facts | What are important details that influence the parties' contract decisions? |
| fraud | A crime that is based on misrepresentation is called ________ |
| injury | What must be proved to establish fraud? |
| fraudulent | A substitute for a false statement of fact is called a(n) ___________ |
| prompt | In order to be effective, a recission must be ________ |
| voidable | Contracts created or modified by duress are ___________ |
| rescind | If duress is present, the victim can ________ the contract |
| misrepresentation | _________ is an element in both innocent misrepresentation and fraud |
| ratify | When you perform an act which suggests you intend to be bound by the contract, you ________ the contract. |
