BUS201 U4 Questions with complete solution 2024

BUS201 U4 Questions with complete solution 2024 Which of the following best describes the concept of "incapacity" as a vitiating factor? - correct answer The law views certain persons such as a young child and people who are intoxicated to lack the capacity to enter into a contract. There are four types of mistakes that can vitiate a contract. Which of the following is one such mistake? - correct answer Unilateral mistake. "A contract entered into as a result of duress is unenforceable. Which of the following may constitute duress? I) Threat against a person's assets. II) Threat of injury against a person's family. III) Commercial negotiation over business issues. IV) Unconscientious use of one's power over another party to achieve an objective." - correct answer I and II "Which of the following is/are element(s) of misrepresentation? I) It is a false statement of fact. II) The other party relied on the false statement. III) The false statement induced the other party to enter into the contract. IV) The other party who relied on the false statement did not suffer any loss." - correct answer I, II and III In which of the follow