FINAL EXAM – BUSINESS LAW

DURESS is

• physical violence that deprives a person free will

• coercion, either physical or mental, that deprives a person free will

• threat of physical violence that deprives a person free will

UNCONSCIONABILITY is

• the effect of drug or metal illness that renders the contract void

• general or specific

• gross unfairness brought about by the superior position of one of the parties of the contract

MISTAKE to be relevant must be

• mutual

• material

• unilateral

FRAUD to be relevant must

• cause an injury to the other party

• determine a misrepresentation

• be brought in front of a Court

QUASI CONTRACT are intended

• to avoid unjust enrichment

• to protect the weak party

• neither a) nor b)

MORAL RULES are

• legally non-binding rules

• legally binding rules

• neither a) nor b)

ONE OF AN AGENT’S DUTIES IS

• to act as a member of the board of directors

• to avoid conflicts of interest

• to find business opportunities

UNDUE INFLUENCE

• occurs in case of labour contracts

• occurs when one of the parties takes advantage of another by reason of the superior position

• occurs in any case of superior position of one of the parties

CAPACITY OF THE PARTIES is

• a requirement of valid contract

• a requirement of effective contract

• a requirement of enforceable contract

A VOID CONTRACT IS

• not binding on both parties

• binding on only one of the parties

• unenforceable