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10 Cards in this Set
- Front
- Back
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If the subject matter (house) is offered but then destroyed by casualty (fire,etc) there is no contract due to destruction it is called
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Subject Matter Loss
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(Intentional) misrepresentation by either party invalidates mutual consent - making false statements, which they know are false - relied upon by the victim and causes victim damage is called
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Fraud
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(Intentional) An agent can be held liable if he/she does not disclose a material fact it is called
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Misrepresentation
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Statements of opinion is called - ex. "this neighborhood is the best one!"
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Puffing
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this can invalidate a contract
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Mutual Mistake
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use of force and will invalidate a contract as there is no "voluntary" consent is called
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Duress
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the "threat" of use of force will also invalidate is called
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Menace
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the use of "unfair advantage" to get a contract - blackmail, influence of drugs or alcohol
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Undue Influence
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"Substitution of Contract" - mutual consent
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Novation
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"Substitution of Parties"
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Assignment
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