CHAPTER 13 T - CHAPTER 13 T/F SELF TEST True/False Indicate...

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CHAPTER 13 T/F SELF TEST True/False Indicate whether the sentence or statement is true or false. T 1. When both parties are mistaken as to the same material fact, neither party can rescind the contract. ANSWER: T 2. A unilateral mistake always affords the mistaken party a right to relief from the contract. ANSWER: T 3. A contract is always enforceable even if one party is aware that the other party made a mistake of fact. ANSWER: T 4. When an obvious clerical error exists in a written contract, the contract may not be enforceable. F NOTES: REF: p. 258 F NOTES: REF: p. 259 F NOTES: REF: p. 259
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T 5. If the parties to a contract attach materially different meanings to a contract term, their mutual misunderstanding will prevent the contract from being rescinded. ANSWER: T 6. A general contractor who knows that a subcontractor's bid is a mistake can still enforce the bid. ANSWER: T 7. If a price quotation contains a mistake in the adding of a number of figures, the contract may not be enforceable. ANSWER: T 8. A general contractor who suspects that a subcontractor's bid is a mistake can still enforce the bid. ANSWER:
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This note was uploaded on 11/12/2010 for the course BUS 45860 taught by Professor Pardee during the Fall '09 term at Riverside Community College.

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CHAPTER 13 T - CHAPTER 13 T/F SELF TEST True/False Indicate...

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