BSL 212 - CHAPTERS 11 & 13 TEST
QUESTIONS WITH 100% CORRECT
ANSWERS { GRADED A+}
A contract lacks consent if - ✔✔(1) misrepresentation (2) mistake (3) duress (4)
undue influence
misrepresentation - ✔✔(1) untrue statement of fact (2) about something material,
(3) reliance on the untrue statement (4) that is reasonable
untrue statement of fact - ✔✔(1) false affirmative communication about
objectifiable data (2) act of concealment (3) non-disclosure (in certain scenarios, a
statement of opinion)
opinions will rise to the level of fact if - ✔✔(1) made by a person in a position of
trust
(2) the relying party is unusually susceptible to statements of opinion (e.g.
mentally incapacitated)
, (3) reliance on a person with a position of superior skill
non-disclosure - ✔✔fiduciary obligation, duty to correct half truths, duty to
correct statements made false by later events, (in real estate) duty of good faith and
fair dealing
fiduciary obligation - ✔✔party has an obligation to act in the best interest of
another; Ex: lawyer, accountant
duty to correct half truths - ✔✔failure to correct half truths will rise to the level of
an untrue statement of fact
duty of good faith and fair dealing - ✔✔an obligation to affirmatively disclose
defects with a property
opinions will rise to the level of fact - ✔✔(1) if made by a person in a position of
trust
(2) if the relying party is unusually susceptible to statements of opinion
(3) reliance on a person with a position of superior skill
a particular feature becomes material if - ✔✔a party indicates an idiosyncratic
preference for it
QUESTIONS WITH 100% CORRECT
ANSWERS { GRADED A+}
A contract lacks consent if - ✔✔(1) misrepresentation (2) mistake (3) duress (4)
undue influence
misrepresentation - ✔✔(1) untrue statement of fact (2) about something material,
(3) reliance on the untrue statement (4) that is reasonable
untrue statement of fact - ✔✔(1) false affirmative communication about
objectifiable data (2) act of concealment (3) non-disclosure (in certain scenarios, a
statement of opinion)
opinions will rise to the level of fact if - ✔✔(1) made by a person in a position of
trust
(2) the relying party is unusually susceptible to statements of opinion (e.g.
mentally incapacitated)
, (3) reliance on a person with a position of superior skill
non-disclosure - ✔✔fiduciary obligation, duty to correct half truths, duty to
correct statements made false by later events, (in real estate) duty of good faith and
fair dealing
fiduciary obligation - ✔✔party has an obligation to act in the best interest of
another; Ex: lawyer, accountant
duty to correct half truths - ✔✔failure to correct half truths will rise to the level of
an untrue statement of fact
duty of good faith and fair dealing - ✔✔an obligation to affirmatively disclose
defects with a property
opinions will rise to the level of fact - ✔✔(1) if made by a person in a position of
trust
(2) if the relying party is unusually susceptible to statements of opinion
(3) reliance on a person with a position of superior skill
a particular feature becomes material if - ✔✔a party indicates an idiosyncratic
preference for it
