Business Law – 5/06/09
Bellwork: p. 135 #20 Q&A
Objectives:
Review Chapter 7 – Genuineness of Assessment
Classwork:
Chapter 7 Review Sheet- Due today
Chapter 7 Test – Online this Friday
1. When is a contract voidable?
2. What does rescission allow?
3. What does duress do to a contract?
4. List 4 different forms of duress.
5. What are the two key elements of undue influence?
6. List 2 types of mistakes that can make a contract void or voidable.
7. List two mistakes which do not affect a contracts validity.
8. When both parties have an incorrect belief about material facts relating to a contract, what may result?
9. What are the 3 criteria needed for a statement to be treated as fraud?
10. What is active concealment?
11. What are the 3 situations where disclosure is required?
12. List the two additional elements misrepresentation needs to become fraud .
13. What are the 3 remedies availab
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