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Exam 14: Voluntary Consent

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Question 31

Multiple Choice

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In entering into a contract with Marc for the sale of a cold storage warehouse, Nan fails to reveal the fact that the freezers do not consistently maintain a proper temperature. Most likely, this is fraudulent misrepresentation if

A) Nan is not aware of the fact.
B) the fact concerns the value or quality of the freezers.
C) the fact is a serious defect known to Nan but not to Marc.
D) any of the choices.

E) A) and B)
F) A) and C)

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Question 32

True/False

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If a contractor's bid was significantly low because he or she made a mistake in adding up the total estimated costs, any contract resulting from the bid is still normally enforceable.

A) True
B) False

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Question 33

Multiple Choice

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Dennis sells a motorcycle to Elton without disclosing that the odometer, which reads 10,000 miles, was disconnected 100,000 miles ago. Dennis is most likely liable for

Ned threatens physical harm to force Omar to pay for "protecting" Omar's restaurant, Pasta Plates, from vandalism. Most likely, Omar may

Voluntary consent to a contract is not lacking if one of the parties is mistaken about an important fact concerning the subject matter of the bargain.

Generally, a contract will be set aside because certain pertinent information is not volunteered.

Generally, a unilateral mistake does not give the mistaken party any right to relief from the contract.

Big Dig LLC makes an offer to perform an excavation and related tasks for Commercial Development Corporation, but due to a substantial mathematical mistake, significantly underprices the work. Commercial accepts the offer. Data Big's best defense against enforcement of the contract is that Commercial knew

One type of bilateral mistake can occur when a word or term in a contract is subject to more than one reasonable interpretation.

The distinction between "seller's talk" and facts allows sellers to tout their products and services, thereby creating potential liability for fraud.

Eugene, an accountant, convinces his client Faye to enter into a contract to invest her savings in Gathering, a non-existent social media site. There is clear and convincing evidence that Faye did not act out of her free will. This is

Undue influence can arise from a confidential relationship or a relationship based on trust.

Dim threatens physical harm to force Ed to sell his Flower Shop to Dim for a below-market price. This is

Only a mistake of value or quality makes a contract voidable.

Al induces Beth to enter into a contract for the purchase of a Chef's Burger restaurant. Al knowingly misrepresents a number of material features about the restaurant and the business. When Beth discovers the truth, she can rescind the contract on the basis of

Ordinarily, every party to a contract has a duty to come forward and disclose facts.

Persuasion that induces a person to act according to the will of a dominant party is undue influence.

The presence of fraud does not affect the authenticity of the innocent party's consent to a contract.

Gary owns two all-terrain vehicles (ATVs) , worth $1,000 and $500, respectively. Helen enters into a contract to buy "Gary's ATV" for $750. Gary believes, in good faith, that he is selling the $500 ATV. Helen believes, in good faith, that she is buying the $1,000 ATV. In this situation

The essential feature of undue influence is a party being taken advantage of suffers from a mental or physical impairment.