| A | B |
|---|
| Genuine Agreement | Genuine assent or mutual assent |
| Voidable | This means the injured party can rescind |
| Rescission | is backing out of the transaction by asking for the return of what you gave in the transaction, and offering to give back what you have received. |
| Ratification | is conduct suggesting you intend to be bound by the contract. |
| Duress | occurs when the party uses improper threat or act to obtain an expression of agreement |
| Undue influence | occurs when one party to the contract is in position of trust and wrongfully dominates the other party. |
| Unilateral mistake | occurs when one party holds an incorrect belief about facts related to a contract. |
| mutual mistake | Both parties have an incorrect belief about an important fact. |
| material facts | Important facts that influence the parties' decisions about a contract |
| Innocent misrepresentation | If the seller didn't know a fact about the item due to a previous owner |
| Fraudulent misrepresentation | if the seller knew an important fact about the item and didn't tell the buyer |
| Fraud | based on misrepresentation. |
