Law Chapter 6

When a bilateral mistake is made, neither party may avoid the contract.

• True
• False

Individuals can make a false representation by not saying something that they should say.

• True
• False

A person may win a lawsuit for fraud even if no loss is suffered.

• True
• False

A threat to exercise one's legal rights is a form of duress.

• True
• False

People who cannot read English, but sign a contract written in English, are not bound by that contract.

• True
• False

Threats of a business nature that cause a person to enter into a K without real consent would qualify as

• undue influence
• duress
• economic duress
• fraud

Mutual mistake is also known as

• unilateral mistake
• bilateral mistake
• material mistake
• intentional mistake

A deliberate deception to secure unfair or unlawful gain is

• misrepresentation
• libel
• unilateral mistake
• fraud

If what seems to be a valid contract turns out not to be, the contract is

• fraudulent
• deceptive
• defective
• mistaken

A fact that is important to one of the parties to a contract is a(n)

• material fact
• unilateral fact
• crucial fact
• concealed fact