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Business > Chapter 9 TEST 2 > Flashcards

Chapter 9 TEST 2 Flashcards

1
Q

Unconscionable

A

A contract or clause that is void on the basis of public policy because one party, as a result of his or her disproportionate bargaining power, is forced to accept terms that are unfairly burdensome and

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2
Q

Adhesion contract

A

205

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3
Q

Substantive Unconsionability

A

205

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4
Q

Exculpatory Clause

A

205

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5
Q

Voluntary Consent

A

205

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6
Q

Mistakes of fact

A

206

Bilateral and Unilateral

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7
Q

Mistake of Value

A

207

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8
Q

Fraudulent Misrepresentation

A

207 Has to be a misrepresentation of a material fact

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9
Q

Actual Fraud

A

?

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10
Q

Legal Fraud

A

?

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11
Q

Undue Influence

A

EX. one parent dead other in 80s one child lives in mobile others everywhere else. One in mobile always checks on parents for 4 more years. When parent dies they give half or more to mobile child and split the other half between 5 children. 5 children are going to say Undue influence.
Could be undue influence, if dementia were an issue.
However if her mind was there, it would be hard to claim undue influence.

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12
Q

Duress

A

When somebody forces you to do something against your will.
EX. go into a drugstore only one open on sunday, if drugstore owner knows hes only one open and you need it and he charges you double.

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13
Q

Statute of Frauds

A

A type of contract that in order to be enforcable has to be in writing.
1. Involving interest of land
2.cannot n
etc on 208

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14
Q

Third Party Rights

Intended beneficiary

A

Asks attorney to write will, attorney makes error thats not found until after death omitting one of the siblings. Does that sibling have a remedy? What can they do? If she can prove that she was intended to be a beneficiary, she could sue the attorney for what she wouldve gotten.

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15
Q

Unintended beneficiary

Incidental Benificiary

A

A is selling a car to pay C, B signs contract to buy car, B backs out, can C sue B? no.

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16
Q

Assignment

A

The transfer of contractural rights to a third party

Ex: A is selling a car to pay C, B signs contract to buy car You ask B to pay C directly, he doesnt pay, C can now sue because she was the intended beneficiary

list on 208

17
Q

Delegations

A

The transfer of contractual duties to a third party

  1. When special trust has been placed in the obligot
  2. When preformance depends on the personal skill or talents of the obligor person to contractually obligated to perform
  3. When performance by a third party will vary materially from that expected by the obligee
  4. When the contract expressly prohibits delegation

Business (4 decks)

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