BUL 4421 FINAL - FAU GENDLER CHAPTER
17 EXAM QUESTIONS AND ANSWERS
CHAPTER 17 - Correct Answers -Legal Assent
Legal Assent (Define) - Correct Answers -Offer and acceptance; both parties agree to
do the same thing.
Legal Assent is a promise - Correct Answers -courts will require parties to obey
Without it, the contract may be - Correct Answers -voidable, a circumstance that can
cost a business large profits when the transaction is significant.
A voidable contract can be - Correct Answers -rescinded, or canceled; permitting the
person who canceled the contract to require the return of everything she gave the other
party
Unilateral mistake - Correct Answers -Results from one party having an error about
material facts.
Mistaken party can rescind or reorganize the contract.
Unilateral mistake generally does - Correct Answers -not void a contract; courts are
hesitant to interfere when one of the parties has a correct understanding of the material
facts of the contract.
Mutual Mistakes - Correct Answers -Both parties have errors of material fact.
A fraudulent/intentional misrepresentation is - Correct Answers -A consciously false
representation of a material fact intended to mislead the other party.
parties cannot be said to have assented when - Correct Answers -one of the parties
was tricked into "agreement" by a fraudulent representation
Under a mutual mistake, rescission is - Correct Answers -fair because any agreement
was an illusion: Ambiguity prevented a true meeting of the minds.
Misrepresentation - Correct Answers -An untruthful assertion about a material fact. This
Misrepresentation prevents - Correct Answers -a mental agreement necessary for a
legal contract.
misrepresentation contracts lack - Correct Answers -(cont.) legal assent
17 EXAM QUESTIONS AND ANSWERS
CHAPTER 17 - Correct Answers -Legal Assent
Legal Assent (Define) - Correct Answers -Offer and acceptance; both parties agree to
do the same thing.
Legal Assent is a promise - Correct Answers -courts will require parties to obey
Without it, the contract may be - Correct Answers -voidable, a circumstance that can
cost a business large profits when the transaction is significant.
A voidable contract can be - Correct Answers -rescinded, or canceled; permitting the
person who canceled the contract to require the return of everything she gave the other
party
Unilateral mistake - Correct Answers -Results from one party having an error about
material facts.
Mistaken party can rescind or reorganize the contract.
Unilateral mistake generally does - Correct Answers -not void a contract; courts are
hesitant to interfere when one of the parties has a correct understanding of the material
facts of the contract.
Mutual Mistakes - Correct Answers -Both parties have errors of material fact.
A fraudulent/intentional misrepresentation is - Correct Answers -A consciously false
representation of a material fact intended to mislead the other party.
parties cannot be said to have assented when - Correct Answers -one of the parties
was tricked into "agreement" by a fraudulent representation
Under a mutual mistake, rescission is - Correct Answers -fair because any agreement
was an illusion: Ambiguity prevented a true meeting of the minds.
Misrepresentation - Correct Answers -An untruthful assertion about a material fact. This
Misrepresentation prevents - Correct Answers -a mental agreement necessary for a
legal contract.
misrepresentation contracts lack - Correct Answers -(cont.) legal assent
