1. For both misrepresentation and fraud, the statement must be made with knowledge that the statement is untrue. True or False

2. The cognitive test for mental incapacity inquires whether the person was so affected by mental illness or mental defect as to render him or her unable to act in a reasonable manner in regard to the contract. Group of answer choices True or False

3. For both misrepresentation and fraud, the statement must be made with the intent to deceive the other party. True or False

4. Fraud in the factum is fraud in the essence. True or False

5. As a general rule, the minor who disaffirms the contract must compensate the other party for whatever he or she no longer has. True or False

6. The parties may include in their contract which of the following?

clauses mandating all three

a clause mandating choice of forum

a clause mandating choice of method of dispute resolution

a clause mandating choice of law

7. Which method of dispute resolution will produce the least predictable result?

negotiation

mediation

arbitration

litigation (with a jury)

8. A three-party private methods for resolving a dispute includes ________ where the neutral third party is both the trier of fact and law.

mediation

arbitration

litigation

negotiation