Chapter 14 Notes - Chapter 14- Genuine Mutual Assent- a...

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Chapter 14- Genuine Mutual Assent - a real meeting of the minds Inducement- what brings you to the table, what makes you do the deal? Artificial inducement- changing the facts to make you do something you wouldn’t normally do I. Mistake a. Mutual mistake of fact i. Must be material ii. Remedy may be rescission iii. If both were on different pages, no defense to the contract b. Unilateral mistake normally don’t get relief i. Knowledge of mistake- if know mistake and take advantage of it 1. If the other party to the contract knows or should have known that a mistake of fact was made, the contract may not be enforceable ii. Calculation errors- not going to hurt someone c. Mistakes of Value (didn’t know it was a collector’s item, valuable) i. Not a defense II. Fraud a. Misrepresentation of material fact i. Not opinions or predictions ii. Concealment iii. Silence 1. a.
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Chapter 14 Notes - Chapter 14- Genuine Mutual Assent- a...

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