Question 1

In general,what is the effect of one party being mistaken about the subject matter of a contract?

Accepted Answer

A)   The mistaken party can rescind the contract.
B)   Either party can rescind the contract.
C)   Either party can rescind the contract, and the mistaken party can recover damages.
D)   Either party can rescind the contract and/or recover damages.
E)   Neither party can rescind the contract or recover damages.

Question 2

In general,the Statute of Frauds sets requirements for:

Accepted Answer

A)   the kinds of damages that are recoverable.
B)   the kinds of contracts that must be in writing to be enforceable.
C)   the kinds of misrepresentations that are actionable.
D)   the kinds of reliance that are justifiable.
E)   the kinds of fraud that justify an award of punitive damages.

Question 3

Which of the following may prevent genuine assent to a contract?

Accepted Answer

A)   mistake
B)   fraudulent misrepresentation
C)   duress
D)   undue influence
E)   mistake, fraudulent misrepresentation, duress, or undue influence

Question 4

Generally speaking,an oral contract that the Statute of Frauds requires to be in writing is unenforceable by either party.

Accepted Answer

A) True 
 B)False

Question 5

Fraud in the factum occurs if a person is deceived as to the nature of his or her act and does not know what he or she is doing.

Accepted Answer

A) True 
 B)False

Question 6

If a judge rules that a party has lost its case because of the Statute of Frauds,the judge has essentially stated that:

Accepted Answer

A)   the losing party purposely deceived the other party about a material fact.
B)   the losing party is not allowed to introduce evidence to contradict a written agreement.
C)   the losing party cannot enforce an oral contract that should have been in writing.
D)   the losing party was found by the court to have lied, and will therefore lose the case.
E)   the winning party has proven criminally fraudulent conduct on the part of the losing party.

Question 7

A mutual mistake of value results in a void contract.

Accepted Answer

A) True 
 B)False

Question 8

Hillay made an oral agreement to sell her car to Rudy for $1,000.The keys and money were exchanged the next day.Soon afterward,Rudy experienced problems with the car and tried to rescind the contract based on the statute of frauds.Will he be successful?

Accepted Answer

No,he will not be.The Statute of Frauds ...

Exam 12: Genuineness of Assent and Statute of Frauds

In general,what is the effect of one party being mistaken about the subject matter of a contract?

Correct Answer
verified

If a judge rules that a party has lost its case because of the Statute of Frauds,the judge has essentially stated that:

Correct Answer
verified

In general,the Statute of Frauds sets requirements for:

Correct Answer
verified

Which of the following may prevent genuine assent to a contract?

Correct Answer
verified

Generally speaking,an oral contract that the Statute of Frauds requires to be in writing is unenforceable by either party.

Correct Answer
verified

Fraud in the factum occurs if a person is deceived as to the nature of his or her act and does not know what he or she is doing.

Correct Answer
verified

Hillay made an oral agreement to sell her car to Rudy for $1,000.The keys and money were exchanged the next day.Soon afterward,Rudy experienced problems with the car and tried to rescind the contract based on the statute of frauds.Will he be successful?

Correct Answer
verified
No,he will not be.The Statute of Frauds ...
View Answer

A mutual mistake of value results in a void contract.

Correct Answer
verified

Exam 12: Genuineness of Assent and Statute of Frauds

In general,what is the effect of one party being mistaken about the subject matter of a contract?

Correct AnswerverifiedShow Answer

If a judge rules that a party has lost its case because of the Statute of Frauds,the judge has essentially stated that:

Correct AnswerverifiedShow Answer

In general,the Statute of Frauds sets requirements for:

Correct AnswerverifiedShow Answer

Which of the following may prevent genuine assent to a contract?

Correct AnswerverifiedShow Answer

Generally speaking,an oral contract that the Statute of Frauds requires to be in writing is unenforceable by either party.

Correct AnswerverifiedShow Answer

Fraud in the factum occurs if a person is deceived as to the nature of his or her act and does not know what he or she is doing.

Correct AnswerverifiedShow Answer

Hillay made an oral agreement to sell her car to Rudy for $1,000.The keys and money were exchanged the next day.Soon afterward,Rudy experienced problems with the car and tried to rescind the contract based on the statute of frauds.Will he be successful?

Correct AnswerverifiedNo,he will not be.The Statute of Frauds ...View AnswerShow Answer

A mutual mistake of value results in a void contract.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
No,he will not be.The Statute of Frauds ...
View Answer

Correct Answer
verified