Business Law Chapter 7

žAn agreement is treated as valid as long as it meets all proper _________ requirements

• Legal
• Right
• Clear

Genuine Agreement/Assent is also known as......

• Meeting of the Minds
• Coming together
• Meeting and Agreeing

Genuine Agreement must be....

• Pressured
• Voluntary
• Misrepresentation

___________ is known as backing out of a contract

• Ratification
• Backing out
• Rescission

When you accept the contract completely it is known as.....

• Acceptance
• Rescission
• Ratification

žWhen one party uses an improper threat or act to obtain an of agreement it is known as __________

• Extortion
• Duress
• Threats
• Rescission

Which of the following is NOT apart of duress?

• Threats of illegal conduct
• Threats to report crimes
• Threats to sue
• All of the above are apart of duress

In order for economic threats to be consider duress, they have to ________ the manufacturer

• Help
• Harm
• Impact

What is NOT part of the key elements of undue influences?

• Relationships
• Unfair Persuasion
• Threats

True or False: Duress occurs when one party to a contract uses threats to obtain an agreement.

• True
• False