Chap017 - Chapter 17 - Legal Assent Chapter 17 Legal Assent...

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Unformatted text preview: Chapter 17 - Legal Assent Chapter 17 Legal Assent True / False Questions 1. A mistake of fact is an erroneous belief about the facts of the contract at the time the contract is concluded. True False 2. Mistakes in contract law result from untrue statements made by one party to the contract. True False 3. For fraudulent misrepresentation to be the basis for a contract rescission, the statement of fact need not be an actual assertion. True False 4. A negligent misrepresentation results when the party making the statement would have known the truth about the fact had he used reasonable care to discover or reveal it. True False 5. When a fraudulent misrepresentation is at issue, intent to deceive may not be inferred. True False 6. Nondisclosure involves the active hiding of the truth about a material fact. True False 7. Scienter is present when the party accused of making the fraudulent assertion believed that the assertion was false or made the claim without any regard for whether it was true or false. True False 17-1 Chapter 17 - Legal Assent 8. Undue influence refers to those special relationships in which one person has taken advantage of his or her dominant position in a relationship to unduly persuade the other person and interfere with that person's ability to make his or her own decision. True False 9. Threatening physical harm or extortion to gain consent to a contract is classified as undue influence. True False 10. Unconscionability is a concept strictly limited today to the sale of goods. True False Multiple Choice Questions 11. Which of the following involves a promise to buy or sell that the courts will require the parties to obey? A. Bilateral assent B. A special agreement C. Legal assent D. Contractual affirmance E. Legal affirmance 12. Without legal assent a contract may be ____. A. Unmarketable B. Unchargeable C. Chargeable D. Illegal E. Voidable 17-2 Chapter 17 - Legal Assent 13. When a contract is voidable, it may be ______. A. Chargeable B. Rescinded C. Deassented D. Reassented E. Uncharged 14. Which of the following was the result on appeal in the Case Opener involving the claim that Michael Jordan owed $5 million based on his agreement to pay the plaintiff's mother on the premise that he was the father although it was later determined that the child was not his? A. That the agreement to pay $5 million could be rescinded based on a mistake of fact. B. That the agreement to pay $5 million could be rescinded based on the mother's fraud. C. That the agreement to pay $5 million could be rescinded based on either a mistake of fact or based on the mother's fraud. D. That the agreement to pay $5 million could not be rescinded because Jordan was aware of a question about his parentage....
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