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12 Cards in this Set
- Front
- Back
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Infancy Doctorine
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Disaffirmation of contract. Any time prior to age 18 or for a reasonable time thereafter
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Duty of Competent Party
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Adults cant take advantage of minors. Minor has option to cancel contract, adult gives back, minor gives back. (Car Example)
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Mental Incompetence Legality
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Void: Doesnt have a mental capacity to sign contract
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Mental Impairment
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Voidable on days when syndrome occurs.
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Intoxication Void
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Voidable. Does not understand the nature of the contract
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Fraud in the Inducement (5)
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Doesnt know they are signing a contract. Voidable
-Misrepresent a material fact -Scienter (knowledge of falsity) -Intent to decieve -Reasonable Reliance -Suffered Damages |
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Material Misrepresentation
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Items: Court can undo contract
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Immaterial Misrepresentation
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Acts: Court will keep contract in place
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Undue Influence (ex)
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Voidable. Dominant person overcomes free will of innocent party. Caretaker makes incapable person enter contract.
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Duress
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Threatens party to enter into contract through violence, imprisonment, conversion, economic.
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Subjective Standard
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Convincing the court you were under duress during the time the you signed the contract.
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Mistakes: Unilateral and Mutual
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Uni: Court will uphold contract. Mutual: both parties were mistaken, voidable.
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