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MGMT 311 EXAM 3 NEWEST 2026/2027 ACTUAL EXAM
COMPLETE 100 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||JUST
OUT!!!
What is a mistake of future value? - ANSWER-A mistake about
the future market value of the object of the contract. Contracts
cannot be rescinded due to this mistake.
What is Fraudulent Misrepresentation? - ANSWER-When an
innocent party is fraudulently induced to enter into a contract,
the contract can be avoided because the party did not
voluntarily consent to its terms.
Fraudulent Misrepresentation consists of the following
elements: - ANSWER-- a misrepresentation of a material fact
must occur
- there must be an intent to deceive
- the innocent party must have justifiably relied on the
misrepresentation
- to collect damages, a party must have been harmed as a result
of the misrepresentation
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What is misrepresentation by conduct? - ANSWER-When a
party takes specific action to conceal a fact that is material to
the contract.
An intent to deceive is: - ANSWER-Knowledge on the part of the
misrepresenting party that facts have been falsely represented.
Intent to deceive exists if a party: - ANSWER-- knows that a fact
is not as stated
-makes a statement that he believes is not true
- makes a statement recklessly without regard to whether it is
true or false
- says (or implies) that a statement is made on some basis, such
as personal knowledge, when it is not
In fraudulent misrepresentation, if the innocent party wants to
recover damages: - ANSWER-Proof of injury is required
In fraudulent misrepresentation, if the innocent party wants to
simply rescind the contract: - ANSWER-No proof of injury is
required
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A contract is voidable if entered into due to __________ since
such contract lacks voluntary consent. - ANSWER-Undue
Influence
Undue Influence is the: - ANSWER-1. Inappropriate pressure
2. Applied by a trusted, more powerful party
3. on a trusting, less powerful party
4. to enter into a legally binding agreement against their will,
which falls slightly short of duress
What is duress? - ANSWER-The force of threats to force a party
into a contract.
Undue influence arises in relationships where: - ANSWER-One
party has significant influence over the other (eg caregiver and
dependent)
Duress can occur between: - ANSWER-any parties, not
necessarily with a pre-existing relationship of trust.
Undue influence may be: - ANSWER-Subtle or manipulative and
exploits a trust or relationship
MGMT 311 EXAM 3 NEWEST 2026/2027 ACTUAL EXAM
COMPLETE 100 QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||JUST
OUT!!!
What is a mistake of future value? - ANSWER-A mistake about
the future market value of the object of the contract. Contracts
cannot be rescinded due to this mistake.
What is Fraudulent Misrepresentation? - ANSWER-When an
innocent party is fraudulently induced to enter into a contract,
the contract can be avoided because the party did not
voluntarily consent to its terms.
Fraudulent Misrepresentation consists of the following
elements: - ANSWER-- a misrepresentation of a material fact
must occur
- there must be an intent to deceive
- the innocent party must have justifiably relied on the
misrepresentation
- to collect damages, a party must have been harmed as a result
of the misrepresentation
,2|Page
What is misrepresentation by conduct? - ANSWER-When a
party takes specific action to conceal a fact that is material to
the contract.
An intent to deceive is: - ANSWER-Knowledge on the part of the
misrepresenting party that facts have been falsely represented.
Intent to deceive exists if a party: - ANSWER-- knows that a fact
is not as stated
-makes a statement that he believes is not true
- makes a statement recklessly without regard to whether it is
true or false
- says (or implies) that a statement is made on some basis, such
as personal knowledge, when it is not
In fraudulent misrepresentation, if the innocent party wants to
recover damages: - ANSWER-Proof of injury is required
In fraudulent misrepresentation, if the innocent party wants to
simply rescind the contract: - ANSWER-No proof of injury is
required
, 3|Page
A contract is voidable if entered into due to __________ since
such contract lacks voluntary consent. - ANSWER-Undue
Influence
Undue Influence is the: - ANSWER-1. Inappropriate pressure
2. Applied by a trusted, more powerful party
3. on a trusting, less powerful party
4. to enter into a legally binding agreement against their will,
which falls slightly short of duress
What is duress? - ANSWER-The force of threats to force a party
into a contract.
Undue influence arises in relationships where: - ANSWER-One
party has significant influence over the other (eg caregiver and
dependent)
Duress can occur between: - ANSWER-any parties, not
necessarily with a pre-existing relationship of trust.
Undue influence may be: - ANSWER-Subtle or manipulative and
exploits a trust or relationship
