Quiz 3 Flashcards
1
Q
Fraud in the Inducement
A
fraud that occurs when the party knows what he or she is signing but has been fraudulently induced to enter into the contract
2
Q
Statue of Frauds
A
A state statue that requires certain types of contracts to be in writing
3
Q
guaranty contract
A
a promise in which one person agrees to answer for the debts or duties of another person. It is a contract between the guarantor and the original creditor
