Genuine Agreement

1
Genuine Agreement

• A valid offer has been made by the offeror, and a
  valid acceptance has been exercised by the
  offeree

2
Mistake

• Unilateral Mistake
• An error on the part of one of the parties
• Cannot get out of contract
• Types
• Nature of the Agreement
• Signing a contract you dont understand or have
  not read
• This applies to signing a contract in a language
  you dont understand
• Identity of a Party
• Bound by contract with face to face meetings
• May be able to void a contract made NOT face to
  face

3

• Bilateral Mistake (Mutual Mistake)
• Both parties are mistaken
• Types
• Possibility of Performance
• Contract is impossible to perform Either party
  can void contract
• Subject Matter
• Either party can void contract

4
Fraud

• Deliberate deception for an unfair or unlawful
  gain
• Define each word in bold

5

• Deliberate Done with or marked by full
  consciousness of the nature and effects
  intentional
• Deception The fact or state of being deceived
• Gain To secure as profit or reward
• In order to prove fraud, you must prove the above
  3 definitions

6

• Proving Fraud
• False Representation of Fact
• Must be a material (important) fact
• Concealment (nondisclosure) may be considered
  false representation
• Representation Known to be False
• False Representation Intended to be Relied Upon
• False Representation Actually Relied Upon
• Resulting Loss

7
Innocent Misrepresentation

• Make an innocent statement of supposed fact that
  turns out to be false
• Injured party has the right to rescind (take
  back) the offer No rights to damages

8
Duress

• Overcoming a persons will by use of force or by
  threat of force or bodily harm
• Economic Duress
• Threats to a persons business or income
• Actual physical harm will void the contract
• Threat of physical harm will make contract
  voidable
• A threat of exercising ones legal right is NOT
  duress Ex Threatening to sue someone and you
  have right to sue, is NOT duress

9
Undue Influence

• Unfair and improper persuasive pressure within a
  relationship of trust

10
Match the column on left with who they have undue
influence over in the right column?

• Doctor
• Lawyer
• Parents
• Teacher

• Student
• Children
• Client
• Patient

Answers 1-4, 2-3, 3-2, 4-1