courts rescind contract misrepresentation made party quizlet

Courts will not rescind a contract for a misrepresentation made by one party Quizlet

Answer the following questions and then press 'Submit' to get your score.

Question 1

Which one of the following statements is incorrect?

a) Misrepresentations cover false statements and half-truths.

b) A statement which is true when it is made but becomes false before the contract is completed may amount to a misrepresentation.

c) To be actionable the misrepresentation must be the only reason that persuaded the other party to enter into the contract.

d) In English law there is no duty to disclose information before a contract unless the contract is one of the utmost good faith or a special relationship of trust exists between the parties. .

Question 2

Misrepresentation in a contract makes the contract:

a) Void.

b) Illegal.

c) Voidable.

d) Unenforceable.

Question 3

An operative mistake in a contact makes the contract:

a) Void.

b) Illegal.

c) Voidable.

d) Unenforceable.

Question 4

What is meant by a common mistake in the law of contract?

a) A mistake that is often made.

b) Where both parties make the same mistake.

c) Where only one of the parties makes a mistake.

d) Where the parties are at cross purposes.

Question 5

George buys a vase from Louis for £20. Louis believes the vase is worthless but George knows it is valuable. George later sells it for £10,000. What legal action can Louis take against George?

a) Sue George for the return of the vase as the contract is void for unilateral mistake.

b) Sue George for breach of contract.

c) Louis has no legal remedy.

d) Sue George for the return of the vase as the contract is void for common mistake.

Question 6

The possible remedies for negligent misrepresentation are:

a) Rescission and damages.

b) Damages only.

c) Rescission only.

d) Specific performance.

Question 7

What does rescission of a contract mean?

a) The contract is set aside and the parties are put back in the same position as if the contract had never been entered into.

b) The parties are put into the same position as if the contract had been completed.

c) Monetary compensation.

d) A false statement of fact.

Question 8

Which of the following statements is incorrect?

a) Duress is where a party has entered into a contract after one party has threatened physical violence or serious economic coercion.

b) The presence of duress makes a contract void.

c) Undue influence is where a party has entered into a contract after excessive persuasion.

d) The presence of undue influence makes a contract voidable.

Question 9

When will the courts presume that there has been undue influence is the signing of a contract?

a) Where there is a fiduciary relationship with the party against whom the undue influence is alleged.

b) In all contracts made between a married couple (or a co-habiting partner).

c) The courts will not presume undue influence. The party alleging undue influence must prove it has occurred.

d) Where the contract is oral.

Question 10

Sally contracts with her employer that she will have a salary of £35,000 per annum plus a cash payment of £20,000 at the end of the year which will not be declared thereby avoiding tax. Sally's employer has now refused to pay her the £20,000. Can Sally take legal action to enforce the payment of £20,000?

a) Yes, Sally has completed the work as agreed.

b) Yes, provide the contract is in writing.

c) No, the contract is void for illegality.

d) No, the contract is void for mistake.

 

Under what circumstances will a court refuse to rescind a contract based on the defense of a mistake?

If only one of the parties is mistaken, that party will not be entitled to rescind, unless (1) the non-mistaken party had reason to know of the mistake and it was his fault which caused the mistake, or (2) the effect of the mistake is such that enforcement of the contract would be “unconscionable.” See, Larsen v.

Can a contract be rescinded because of a mistake?

In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. Rescission is the unwinding of a transaction.

Can a contract be rescinded in a unilateral mistake?

Unilateral mistake (where one party is mistaken and the other knows or ought to have known of the mistake). If the mistake relates to the fundamental nature of the offer the contract can be voided.

Which type of mistake will give both parties the right to rescind?

The following are some of the most common grounds upon which a party may rescind a contract: Mistake of Fact or Law: If both parties entered into the contract based on a mistake of fact, the contract may be rescinded. The fact must be material to the contract.

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