Chap008 - Chapter 008 : Mutual Agreement Student: _ 1....

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Chapter 008 : Mutual Agreement Student: ___________________________________________________________________________ 1. Genuineness, or reality of an agreement, is said to be present in a contract when there is a true meeting of the minds. BT: Knowledge PO: 1 True False 2. A fraud charge can be proven only if it is available in writing, but not if it is spoken, by acts or conduct. BT: Knowledge PO: 2 True False 3. If there is any misunderstanding or if any force or deception is used by either party to obtain the necessary agreement of the other party, the contract is voidable, and may be disaffirmed at the option of the injured party. BT: Knowledge PO: 1 True False 4. Misdemeanor is the intentional misstatement or nondisclosure of a material fact made by one party with the hope of influencing the other party. BT: Knowledge PO: 2 True False 5. Puffing is considered a mere expression of opinion that refers to generalities. BT: Knowledge PO: 2 True False
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6. There is no remedy for the injured party under fraud and misrepresentation. BT: Knowledge PO: 3 True False 7. In the eyes of the law, a misrepresentation is a belief that is not in accord with the facts. BT: Knowledge PO: 4 True False 8. Mistakes relating to contracts may be concerned with the nature of the subject matter or the quality of the subject matter. BT: Knowledge PO: 4 True False 9. For a contract to be dissolved because of a mistake, the law usually requires that only one of the parties has to be part of the mistake. BT: Knowledge PO: 4 True False 10. A person who has power and abuses it to control the actions of another person on the basis of a special or confidential relationship commits fraud. BT: Comprehension PO: 5 True False 11. A physician may have the power to control the actions of his patients because of a special or confidential relationship. BT: Comprehension PO: 5 True False 12. Duress is the act of applying unlawful or improper pressure or influence to a person in order to gain his agreement to a contract. BT: Knowledge PO: 6 True False
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13. The "take-it-or-leave-it" contracts are quite common and are normally unenforceable. BT: Knowledge PO: 7 True False 14. The pressure under duress only take the form of a threat of bodily harm to an individual or to his family, but not the threat of serious loss or damage to his property. BT: Knowledge PO: 6 True False 15. When the UCC was written, it was intended that the unconscionable clause would apply only to sales of goods. BT: Knowledge PO: 8 True False 16. Genuineness, or reality, of agreement is said to be present in a contract when there is: A. true meeting of minds. B. knowledge of falsity. C. puffing.
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This note was uploaded on 09/25/2011 for the course GENB 4350 taught by Professor Louis during the Spring '11 term at Houston Baptist.

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Chap008 - Chapter 008 : Mutual Agreement Student: _ 1....

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