Ch9 - ch9 Student 1 Mutual assent means that the parties have had a face-to-face meeting True 2 Jan purchases a toaster oven from a department

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ch9 Student: ___________________________________________________________________________ 1. Mutual assent means that the parties have had a face-to-face meeting. True False 2. Jan purchases a toaster oven from a department store. This transaction is an example of mutual assent. True False 3. Sandra unknowingly tells Mike that the new lawnmower he is purchasing has a five-year warranty when in fact it has only a three-year warranty. Sandra has engaged in fraud. True False 4. In a fraud case, a material fact is one that is very crucial to the terms of the contract. True False 5. When Tom and Pete were negotiating a price for the sale of Tom's couch, Tom said truthfully, "I paid $450 for the couch three years ago". Tom's statement is a material fact. True False 6. Aubrey paints over the rusted spots of her car before offering it for sale and is silent about rust damage when discussing the car with Charles, a purchaser. Aubrey has committed active fraud. True False 7. Alberto sells his car to Yanti without telling her that the car has been wrecked and rebuilt. Alberto has engaged in passive fraud. True False 8. If a hidden problem exists in the subject matter of a contract, the offeror must always reveal it. True False 9. Roberta is Ichi's attorney. Roberta is in a fiduciary relationship with Ichi. True False 10. Misrepresentation is a false statement made innocently with no intent to deceive. True False 11. Cases based on innocent misrepresentation allow rescission and monetary damages. True False
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12. A unilateral mistake may permit a rescission by the offeror. True False 13. When both parties are mistaken in the identification and description of subject matter, rescission will not be granted. True False 14. Mitch signed a receipt for a home carpet cleaning demonstration that included a promise to pay $100. Failure to read the document before signing it will excuse Mitch from paying the $100. True False 15. Bristan purchases a painting at a yard sale in the mistaken belief that it is a valuable antique. Bristan may not rescind his purchase. True False 16. Unjust efforts to prevent employment might constitute emotional duress. True False 17. Eva is told by her employer that unless she agrees to clean the garbage bins she will be fired and "never work in this town again". Eva has experienced physical duress. True False 18. A woman who wants to prove that her supervisor used physical duress must show that the supervisor violated a confidential relationship. True False 19. Ann and Charles are married. Ann persuades Charles to disinherit his children by a previous marriage and prepare a will leaving all of his property to Ann. Charles' children may assert a claim of economic duress. True False
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This note was uploaded on 06/13/2011 for the course ACC online taught by Professor Prof during the Spring '10 term at Seton Hall.

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Ch9 - ch9 Student 1 Mutual assent means that the parties have had a face-to-face meeting True 2 Jan purchases a toaster oven from a department

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