True/False
Indicate whether the sentence or statement is true
or false.
|
|
|
1.
|
When
both parties are mistaken as to the same material fact, neither party can rescind the
contract.
|
|
|
2.
|
If
the parties to a contract attach materially different meanings to a contract term, the contract
cannot be rescinded.
|
|
|
3.
|
A
contract is always enforceable even if one party is aware that the other party made a mistake of
fact.
|
|
|
4.
|
If a
price quotation contains a mistake in the adding of a number of figures, the contract may not be
enforceable.
|
|
|
5.
|
Mistakes in judgment as to value or quality will permit one to avoid a
contract.
|
|
|
6.
|
Overestimating the value of an object is a mistake for which a court will normally
provide relief.
|
|
|
7.
|
An
innocent party can enforce a fraudulent contract.
|
|
|
8.
|
One
of the elements of fraudulent misrepresentation is an adhesion contract.
|
|
|
9.
|
A
statement of opinion is generally subject to a claim of fraud.
|
|
|
10.
|
Reliance on a non-expert's statement of opinion will not normally entitle a party to
relief.
|
|
|
11.
|
An
expert's false statement to a naive buyer about a technical detail will not usually entitle the buyer
to rescind a contract.
|
|
|
12.
|
An
act of concealment, with an affirmative misrepresentation, will not be sufficient to give rise
to an action for fraud.
|
|
|
13.
|
One
of the elements of fraudulent misrepresentation is intent to deceive.
|
|
|
14.
|
A
seller's failure to volunteer certain pertinent information about a product for sale will
never give rise to an action for fraud.
|
|
|
15.
|
Reliance on a misrepresentation is justified if the misrepresentation is an obviously
extravagant statement.
|
|
|
16.
|
To
rescind a contract for fraud, a plaintiff must prove an injury.
|
|
|
17.
|
To
serve as a basis for an action for fraudulent misrepresentation, a misleading statement must be
consciously false.
|
|
|
18.
|
A
contract entered into under duress is voidable.
|
|
|
19.
|
Economic need is always sufficient to constitute duress.
|
|
|
20.
|
An
adhesion contract can occur in a one-sided transactions in which one party has substantially superior
bargaining power.
|