Exam 13: Capacity and Consent

If Jane persuades Linda to buy her horse by telling Linda that the horse runs "like the wind," then Jane's statement is:

An example of the type of relationship required to find undue influence would be:

Mark's home had burned to the ground.When he met with his insurance adjuster,she accused him of burning down the house,and said she would have him criminally prosecuted if he didn't settle the claim for much less than the house was worth.Mark agreed to the settlement.If he changed his mind,he can probably rescind the settlement on the basis of:

Adrianna wants to purchase a ten-acre tract of land.Under what circumstances would the seller be required to divulge information Adrianna does not possess?

When courts consider economic duress,they consider all the following factors EXCEPT:

Spencer,age 18 and of sound mind,has the legal capacity to contract.

After her 18th birthday Lora may,by words or action,ratify a contract she made during the previous year.

Vince has begun forgetting things and is becoming very difficult to get along with.He is 85,has been ill,and is very fond of his housekeeper Annie.He gives a deed to Annie for all of his real property.At Vince's death,his children,who got only his photograph albums according to the will,ask that the deed be set aside and the land be put back in the estate for purposes of division among all the children.The probable result will be:

Angie,a minor,wants to avoid a contract she made with Cumberland Cycles.She may disaffirm the contract by:

Discuss the concept of a "material fact" in fraud situations.

If a minor can cancel a contract,it can be done at any time during minority or within a reasonable time after reaching majority.

In the case of Sepulveda v.Aviles,the New York Supreme Court,Appellate Division,found evidence of undue influence in:

Generally,a seller has no duty to disclose facts.However,there is a duty to disclose information or facts if the disclosure is necessary to:

A party injured by fraud generally has the choice of suing for damages or rescinding the contract.

When a party to a contract makes a unilateral mistake,the contract:

Jeff was a subcontractor,bidding on a contract for ACE Corp. ,the general contractor.When adding up the total of materials and labor,Jeff's secretary mistakenly moved the decimal point one place,ending up with a bid of $3500 rather than $35,000.ACE Corp.accepted Jeff's bid,mostly because all the other bids were over $30,000.When Jeff learned of the mistake,he tells ACE Corp.that he cannot do the job for $3500.If ACE Corp.sues to enforce this contract,what is the most likely result?

When a business is concerned about selling to minors because of their right to disaffirm contracts,the business might protect itself by:

Deborah purchased a boat from Sun 'N Surf Marine.She later learned that the salesman had made misrepresentations to induce her to make the purchase.Under UCC Section 2-721,Deborah can rescind the contract:

Reed,a 15-year-old,has run out of money while on a trip away from home.Martha gives him food,a place to sleep,and his bus fare home,in exchange for Reed's promise to pay $200 after he got home.Is Reed's promise enforceable?

Peter,a minor,purchased a car from ACME Motors.Using a fake ID,he misrepresented his age to be 18.The contract is fully executed.Which of the following is correct?