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17 Cards in this Set

  • Front
  • Back
Duress
wrongful or unlawful act or threat that overcomes the free will of a party
Physical duress
coercion involving physical force renders the agreement void
Improper threats
improper threats or acts, including economic and social coercion, render the contract voidable
Undue influence
the unfair persuasion of a person by a party in a dominant position based on a relationship of trust and confidence
Fraud in the execution
a misrepresentatino that deceives the other party as to the very nature of the contract; renders the agreement void
Fraud in the inducement
misrepresentation regarding the subject matter of a contract that induces the other party to enter into the contract; renders the contract voidable
Misrepresentation
some positive statement or conduct that is not in accord with the facts
Conealment
action taken to keep another from learning of a fact
Fiduciary
person who owes a duty of trust, loyalty, and confidence to another
Fact
an event that took place or a thing that exists
Opinion
belief in the existence of a fact or a judgment as to value
puffing
sales talk that is considered general bragging or overstatement
Material
substantial importance likely to induce a reasonable person to enter into the contract
Scienter
Guilty knowledge
Justifiable reliance
reasonably influenced by the misrepresentation
Mistake
an understanding that is not in accord with existing fact
Mutual mistake
both parties have a common but erroneous belief forming the basis of a contract