Chapter 9.2 Study Guide Questions

When one party makes a mistake, that party can:

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When one party makes a mistake, that party can:

Do nothing, because the contract is enforceable.

When an innocent party is fraudulently induced to enter into a contract, the contract normally can be avoided because that party has not voluntarily consented to its terms.

When a party is fraudulently induced into a contract, that party can ___1.___.

1. Rescind the contract.

Which of the following is NOT an element of fraud?

Intent to improve one's bargaining position

Misrepresentation by conduct involves:

A seller preventing a buyer from learning of some fact that is material.

When a naïve purchaser relies on the opinion of an expert, the innocent party may be entitled to ___1.___.

1. Rescission or reformation.

Misrepresentation of law ordinarily does not entitle a party to relief from a contract.

The presence of termites in a home qualifies as a latent defect.

Ordinarily, any party to a contract has a duty to come forward and disclose facts that the other party does not know about.

One party's intent to deceive the other party to a contract is known as: