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