Question 1

Marquez agrees to buy Dale's pickup truck so he can pull his trailer.Both Marquez and Dale believe that the truck is big enough to do the job.After they complete the deal, Marquez finds that the truck is not strong enough to handle the trailer.The contract between Marquez and Dale can be rescinded because of:

Accepted Answer

A)  ​a unilateral mistake.
B)  a defective acceptance. 
C)  ​a mutual mistake.
D)  ​negligent misrepresentation.

Question 2

A young stockbroker was rather overwhelmed by a flood of new clients.Assunta, one of his clients, had purchased XYZ Corp.stock through the broker at a price of $35 per share.The price had gone down to $29 by the time Assunta telephoned the broker.Assunta told the broker that she wanted to sell the stock if it went below $30 and inquired as to the price.The broker did not check the price, but thinking it could not have fallen below the $30 threshold, simply reassured Assunta that it was still "in the low 30s."
Marta, Assunta's cousin, also had purchased XYZ stock at $35 per share and made a similar call to the broker and received the same response.Marta, however, coincidentally saw the price on a stock ticker tape when she hung up and realized the broker had made an error.Both Assunta and Marta held the stock and did not sell.?Later that same day, the stock price fell an additional $7 per share.Facing sizable losses, both Assunta and Martha decided to sue for fraud when Marta told Assunta of the broker's misstatement.Discuss the probable outcome of the lawsuits.

Accepted Answer

The broker's reckless disregard for the ...

Question 3

A claim of undue influence will be unsuccessful unless the contracting parties have a close relationship of trust.

Accepted Answer

A) True 
 B)False

Question 4

An apparently voluntary agreement may in fact not be voluntary if:

Accepted Answer

A)  ​undue influence is present.
B)  physical duress is present.
C)  ​economic duress is present.
D)  ​all of these.

Exam 13: Capacity and Genuine Assent

An apparently voluntary agreement may in fact not be voluntary if:

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Correct Answer
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The broker's reckless disregard for the ...
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Correct Answer
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A claim of undue influence will be unsuccessful unless the contracting parties have a close relationship of trust.

Correct Answer
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Exam 13: Capacity and Genuine Assent

An apparently voluntary agreement may in fact not be voluntary if:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedThe broker's reckless disregard for the ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

A claim of undue influence will be unsuccessful unless the contracting parties have a close relationship of trust.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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The broker's reckless disregard for the ...
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Correct Answer
verified

Correct Answer
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