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| meeting of the minds; consent; agreement. It flows from a good offer and a good acceptance. Mutual acceptance equals mutual assent. Both parties agree to the offer. |
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| cancellation of a K (either by the party or the court); rescind |
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| deception that is intended to induc, and does induce, another to part with something of value, or surrendar some legal right |
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| something that is important |
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| the obligation of the seller to disclose the fact where the buyer does not and connot know them himself |
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| intentional misrepresentation of a material fact, or failure to disclose induciig the other to enter a contract |
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intentionally misrepresenting the existence of the character of the contract itself;
ex. sign a contract w/o telling them it's a contract |
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| Negligent Misrepresentation |
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| tort action; it is the misstatement of material fact, or failure to disclose that the offeror kew or should have known would have affected the offeree's decision to enter into the contract |
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a misunderstanding of a material fact, shared by both parties or all parties to the contract.
Mutual mistake is adequate to rescind a contract if proven |
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| a misunderstanding of a material fact by one party; usually not grounds to rescind a contract w/o showing fraud, neg. misrepresentation, undue influence, bad behavior. |
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coercion applied for the purpose of compelling a person to do, or refrain from doing something.
ex. physical, economic coersion, reduce price thru coersion. |
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| it is unfair persuasion by a party who is in a position of trust and confidence, or a position of dominance; this is another factor keeping you from having mutual assent. |
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| when one party has an unfair advantage over another one; the weaker party is taken advantage of by the stronger party. This offends our sense of what is right or wrong. |
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| it is a "take it or leave it" contract where the weaker party has no real choice |
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| it is a K where you pay over time. It is often an unconscionable contract because one late payment could breach contract. |
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