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19 Cards in this Set
- Front
- Back
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Voluntary
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facts and circumstances surrounding a case indicate that the parties reached an agreement
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Parties duty of care
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parties to a contract are required to exercise reasonable caution and judgement
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Disaffirmed
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before performance has been rendered
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Rescind
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cancellation after performance is rendered
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Misrepresentation
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not necessarily knowing, could be honest mistake
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Material fact
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varies with circumstances
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Puffering
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indicate sales talk
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Justifiable reliance
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must be a causal connection between the misrepresentation and the complaining party having entered into the contract
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Detriment
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harm as a result of justifiable reliance on a misrepresented material fact
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Fraud
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intentional misrepresentation. knowingly, intent to decieve
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Scienter
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mental state of the defendant
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Caveat emptor
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let the byer beware
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Fraud in the execution
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misstatements about the content or legal effect of something usually contained in a form or preprinted contract
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Deceit
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affirm/ratify the contract and sue in tort . equivalent of criminal fraud in a civil action
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Duress
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there must be a threat of physical injury, there must be a wrongful injury
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Under influence
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nature of the relationship
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Mistake
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belief is not the product of a misstatement by the other party
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Mutual
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always a basis for rescission
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Unilateral
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no reccession where one party operates under a mistaken belief
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