BAC 102 Final Exam

An oral contract will be easier to enforce if...

• it is recorded

• there is a witness

• there are multiple witnesses

• all of the above

This is the act of making intelligible that was not before understood, ambiguous, or not obvious.

• Ratification

• Identification

• Formulation

• Interpretation

This remedy is used when there has been meeting of the minds of the parties, hence a contract exists but the written instrument purporting to embody the contract does not express the true intention of the parties by reason of mistake, fraud, inequitable conduct, or accident.

• Annulment

• Reformation

• Rescission

• Ratification

What is the proper remedy if mistake, fraud, inequitable conduct, or accident has prevented a meeting of minds of the party?

• Reformation

• Annulment

• Cancellation

• Rescission

It is the mistake of fact that is common to both parties of the instrument which causes the failure of the instrument to express their true intention.

• One-sided Mistake

• Dual Mistake

• Mutual Mistake

• Double-Sided

A seller unknowingly offering defective merchandise to a customer.

• Fradululent Misrepresentation

• Negligent Misrepresentation

• Innocent Misrepresentation

Which of the following is NOT a Mistake?

• Common

• Mutual

• Unilateral

• Fraudulent

It is the employment of serious or irresistible force to obtain consent.

• intimidation

• threat

• violence

• moral coercion

A contract entered into by an incapacitated person is:

• Void

• Voidable

• Rescissible

• Unenforceable

A contract entered into by an insane person during a lucid interval is:

• Valid

• Voidable

• Rescissible

• Void