| A | B |
|---|
| wager | A bet on any event that depends on chance or uncertainty. |
| mutual mistake | Mistake about an important fact believed by both parties to a contract. |
| necessaries | goods adn services reasonably needed to maintain one's life-style. |
| genuine assent | consent or agreement not clouded by fraud, duress, undue influence, or mistake |
| compounding a crime | accepting something of value for a promise not to prosecute a suspected criminal. |
| legal rate of interest | rate specified by statute when interest is called for but no percentage is stated in the contract. |
| usury | charging interest on a loan beyond the legally permitted maximum rate. |
| fraud | deliberate false representation or concealment of a material fact, which is meant to and which does induce another to make an unfavorable contract. |
| ratification | approval of a voidable contract. |
| undue influence | overpowering of anothers free will by taking unfair advantage to induce the person to make an unfavorable contract. |
