PLST 226 Quiz 3 Mutual Assent

PLST 226 Quiz 3 Mutual Assent

PLST 226 Quiz 3 Mutual Assent of the Parties Drafting a Contract

1. Misstatement of a minor fact is sufficient to prove fraud.
2. Many mistakes can be prevented by carefully checking contracts for ________ .
3. A contract may be considered terminable at the will of either party if it does not state its duration.
4. Unless the contract specifies otherwise, it is presumed that a buyer will pay for goods ________ .
5. If your law office represents a seller of goods, ensure that normal ________ are permitted under the contract; this will facilitate filling the order.
6. If a time of the essence provision is clearly drafted, a court will enforce it strictly.
7. Acceleration contracts are those in which payments are made incrementally until the agreed balance is paid.
8. Fraud consists of (1) the misstatement of a fact (2) that is material (3) and is made with the knowledge and intent to deceive, leading to (4) reliance on deception and (5)
9. The signature block of a contract must specify the ________ in which someone is signing.
10. In a unilateral mistake case, a plaintiff must prove either unconscionability or that the other party caused or knew of the mistake.
11. It is harder to prove fraud than misrepresentation, because ________ .
12. Under the U.C.C., lack of a specific price may give rise to a contract that is ________ .
13. Termination provisions should reflect the parties’ needs and facts.
14. When drafting a contract to which a corporation is a party, identify it clearly as a corporation in the introductory paragraph of the contract.
15. The duty of a fiduciary is ________ .
16. To understand the duty to disclose, you need to know ________ .
17. In a mistake case, the mistake often appears on the face of the contract.
18. To avoid a contract in a duress case, a party must prove ________ .
19. Which type of contract is normally unassignable?
20. A plaintiff alleging that a contract lacked mutual assent must prove both fraud and misrepresentation.
21. The speaker’s intent distinguishes fraud from misrepresentation.
22. Mutual assent is judged by an objective standard.
23. Proof of all elements of fraud usually entitles a plaintiff to void his or her contract with the defendant.
24. Undue influence is most often raised as a defense in cases that involve caretakers, relatives, or fiduciaries.
25. When there is no meeting of the minds, a contract cannot be ________ .