Notes

Due today:
Philosophy Self Project
Due tomorrow:
Govt Presidential Lookup Project
Philosophy Self Project
Final Studying
Business website
Due Thursday:
English Presentation
Govt Supreme Court Project
Philosophy Final Project

**Genuine Assent Page:**

**Define Genuine Assent (1):** Genuine assent refers to the true and voluntary agreement of all parties involved in a contract, free from any coercion, mistake, misrepresentation, or undue influence.

**Define Voidable (1):** Voidable is a term applied to a contract that can be either affirmed or rejected by one or both parties involved due to factors such as mistake, misrepresentation, duress, or undue influence.

**Define Rescission (1):** Rescission is the act of canceling or annulling a contract, restoring the parties to their pre-contractual positions. It is often invoked in cases of voidable contracts.

**Define Ratification (1):** Ratification occurs when a party affirms or accepts a contract that was initially voidable, either through explicit approval or through actions that imply acceptance.

**Create an example of a person ratifying a contract (1):** Suppose a minor enters into a contract for the purchase of a car. Upon turning 18, the minor decides to keep the car and make regular payments, thereby ratifying the contract.

**How Can Genuine Assent be Found Lacking in Court? Subpage to Genuine Assent Page:**

**Define Duress (1):** Duress is a situation where one party is forced into a contract against their will due to threats or acts of violence.

**Create your own example of duress that would make a contract voidable (1):** If Party A threatens physical harm to Party B unless they sign a contract to sell their property at an unfairly low price, the contract is voidable due to duress.

**Define Undue Influence (1):** Undue influence occurs when one party takes advantage of their dominant position to manipulate the decision-making of another party.

**Create your own example of undue influence that would make a contract voidable (1):** If an elderly person is pressured by their caregiver to sign over their estate, and the caregiver is in a dominant position, the contract is voidable due to undue influence.

**Define Mistakes (1):** Mistakes refer to erroneous beliefs about the facts of a contract at the time it is concluded.

**Define Unilateral Mistakes (1):** Unilateral mistakes are errors made by one party about a material fact in the contract.

**Create your own example that shows a unilateral mistake, but the contract is still binding (1):** Party A sells a rare antique to Party B, thinking it's a replica. Although Party A made a unilateral mistake, the contract is still binding as long as Party B was unaware of the mistake.

**Define Mutual Mistake (1):** Mutual mistakes occur when both parties share an erroneous belief about a material fact in the contract.

**Create your own example that shows a mutual mistake, and the contract is voidable (1):** If both parties enter into a contract for the sale of a painting, believing it to be a famous artwork when, in reality, it's a forgery, the contract is voidable due to mutual mistake.

**Define Misrepresentation (1):** Misrepresentation is an untruthful assertion by one of the parties about a material fact in the contract.

**Create your own example of innocent misrepresentation (1):** Party A sells a used car to Party B, honestly believing it has never been in an accident, but later, Party B discovers it was in a minor collision. This is innocent misrepresentation.

**Define Negligent Misrepresentation (1):** Negligent misrepresentation is a false statement made by a party who would have known the truth had they exercised reasonable care.

**Create your own example of negligent misrepresentation (1):** A real estate agent provides incorrect square footage information about a property, unaware that the information is inaccurate. This is negligent misrepresentation.

**Define Fraudulent Misrepresentation (1):** Fraudulent misrepresentation is a consciously false representation with the intent to deceive.

**Create your own example of a fraudulent misrepresentation (1):** Party A knowingly sells a property with severe structural issues, falsely representing it as sound. This is a fraudulent misrepresentation.

**List the three requirements for statements to be treated as misrepresentations (3):**
1. A false statement about a past or existing material fact in the contract.
2. Intent to deceive, which can be inferred from the circumstances.
3. Justifiable reliance on the false statement by the innocent party seeking to enforce or rescind the contract.

**Total Points _________________________/23**