Question: 1 What is a mutual mistake? A situation in which the parties each made different mistakes with respect to the contract. A situation in which

1

  1. What is a mutual mistake?

    A situation in which the parties each made different mistakes with respect to the contract.

    A situation in which the parties mutually agree that there is a mistake in the contract.

    A situation in which a term of the contract is omitted by mistake.

    A situation in which the parties made the same mistake.

2

  1. What is one way in which a contract can be discharged?

    By the contract's own dissolution.

    By one party giving at least 90 days notice to the other.

    By the parties orally agreeing to terminate the contract.

    By a third party mediator declaring a contract to be void.

3

  1. What is an injunction?

    When a plaintiff is allowed to claim for partial performance

    When two parties find that they cannot complete a contract

    A remedy awarded which compels an action by the guilty party

    When a court orders a person not to break their contract

4

  1. What is a contract?

    An agreement by two or more parties to exchange services or products at some time in the future.

    An exchange of enforceable promises between two or more parties, usually, but not always, in writing

    An agreement by one party to complete work for another party

    An agreement by two or more parties to exchange services or products.

Question 5

  1. Alex persuaded his grandmother, Clara, to sell him her car for $1,000. They both knew the car was worth much more than that. However, Clara did not need the car anymore and loved her grandson, so she agreed to sell him the car. The next day Clara found out that Alex was planning to sell the car to a friend for $6,000. Clara can avoid the contract because of:

    Duress

    Fraud

    Undue Influence

    Mistake

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!