Business_Law_chap_8_vocab

Business_Law_chap_8_vocab - one of the parties. Undue...

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Ben Quach Business Law vocab Chap 8 Fraud – the intentional misstatement or nondisclosure of a material fact made by one party with the hope of influencing the other party. Puffing – a general expression of opinion, typically in a sales contact, that is used to persuade a prospective purchaser to buy. It does not constitute a misrepresentation of material text. Misrepresentation – a misstatement of a material fact that results in inducing another to enter into an agreement to his or her injury. Mistake – a belief that is not in accord with the facts. Unconscionable contract- a contract that is so one sided that it is oppressive and gives unfair advantage to
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Unformatted text preview: one of the parties. Undue influence the improper use of excessive pressure by the dominant member of a confidential relationship to convince the weaker party to enter a contract that greatly benefits the dominant party. Duress- the act of applying unlawful or improper pressure or influence to a person to gain his or her agreement to a contract. Contract of adhesion a contract drawn by one party that must be accepted as is on a take it or leave it basis....
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