Term
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Definition
| a promise to buy or sell that the courts will require the parties to obey |
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Term
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Definition
| erroneous belief about the facts of the contract at the time the contract is concluded |
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Definition
| result of an error by one party about a material fact |
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Definition
| shared by both parties to the agreement |
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Term
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Definition
| untruthful assertion by one of the parties about a material fact |
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Term
| innocent misrepresentation |
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Definition
| results from a false statement about a fact material to an agreement that the person making the statement believed to be true |
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Definition
| person who made the false statement had no knowledge of the falsity of the claim |
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| negligent misrepresentation |
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Definition
| happens when the party making the statement would have known the truth about the fact had he used reasonable care to discover or reveal it |
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Term
| fraudulent misrepresentation (intentional misrepresentation) |
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Definition
| false representation of a material fact that is consciously false and intended to mislead the other party |
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Definition
| the active hiding of the truth about a material fact |
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Term
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Definition
| a failure to provide pertinent information about the projected contract |
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Definition
| present when the party making the false statement claims or implies that he or she has personal knowledge of the accuracy of the assertion |
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Term
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Definition
| those special relationships in which one person has taken advantage of his or her dominant position in a relationship to unduly persuade the other person |
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Term
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Definition
| one party was forced into the agreement by the wrongful act of another |
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