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Running head: LEGAL ASSESTS 1
Legal Assets
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Chapter 17 legal assents
Question and problem answers
Question one
Unilateral mistake alludes to a situation where only one party is mistaken regarding words,
definition, quantity, terms or other measurements described in a contract. In contrast, mutual
mistakes refer to an error that occurs when parties of a contract are mistaken about the same
material facts within the contract.
Question 2
A contract may be deemed voidable from a unilateral mistake if the following instances happen
If the error was unconscionable in that it was so severe and unreasonable to be deemed
outrageous
The occurrence of a clerical error that, in any way, did not lead to gross negligence.
If one party relied on the statement of another about the material facts that the second party
already knew or should previously have known, it was a mistake by the party.
Question 3
Innocent misinterpretation refers to a false statement of the material facts mainly by the
defendant, who, in time of signing of the contract, is aware that the statement is untrue while
negligent misinterpretation refers to contracts rescissions and the presence of possible damage.

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Running head: LEGAL ASSESTS 1 Legal Assets Name Institutional Affiliation Chapter 17 legal assents Question and problem answers Question one Unilateral mistake alludes to a situation where only one party is mistaken regarding words, definition, quantity, terms or other measurements described in a contract. In contrast, mutual mistakes refer to an error that occurs when parties of a contract are mistaken about the same material facts within the contract. Question 2 A contract may be deemed voidable from a unilateral mistake if the following instances happen If the error was unconscionable in that it was so severe and unreasonable to be deemed outrageous The occurrence of a clerical error that, in any way, did not lead to gross negligence. If one party relied on the statement of another about the material facts that the second party already knew or should previously have known, it was a mistake by the party. Question 3 Innocent misinterpretation refers to a false statement of the material facts mainly by the defendant, who, in time of signing of the contract, is aware that the statement is untrue while negligent misinterpretation refers to contracts rescissions and the presence of possible damage. Question 4 Druss refers to wrongful pressure that is exerted upon an individual with the aim of coercing that person into entering into a contract that he or she would not enter in ordinary circumstances while undue influence is taking advantage of another individual through a p ...
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