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10 Cards in this Set
- Front
- Back
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Mistakes of fact |
This mistake makes the contract avoidable |
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Mistakes of value |
Mistakes related to the value of the item |
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Unilateral mistake |
A mistake that is made by only one of the parties |
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Latent defects |
Defects that could not be readily ascertained |
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Scienter |
Knowledge in the part of the misrepresenting party that facts have been falsely represented |
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Innocent misrepresentation |
When a person makes a statement that they believe is true but that actually misrepresents material facts |
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Negligent misrepresentation |
Party does not exercise reasonable care in identifying the facts or use the skill that is needed for his business or profession |
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Punitive damages |
Damages intended to punish the defendant and are granted to a plaintiff over and above compensation for the actual loss |
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Exemplary damages |
Similar to punitive damages |
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Adhesion contracts |
A contract written exclusively by one party |
