Genuine Assent
Physical threat used to force a contract.
Duress
Fact important enough to influence a decision.
Material fact
Both parties are wrong about the same fact.
Mutual mistake
A promise without real obligation.
Illusory
Improper persuasion from a trusted person.
Undue influence
Depending on a false statement.
Reliance
Only one party is mistaken.
Unilateral mistake
Giving up a legal right.
Forbearance
When amount of debt is known.
Liquidated
False statement of material fact.
Misrepresentation
Hiding a defect intentionally.
Concealment
A mistake that does NOT void a contract.
(mistake in) Value
Courts don't judge this part of consideration.
Adequacy
Agreement settling a disputed debt.
Accord
Misrepresentation with intent to deceive.
Fraud
Element that separates fraud from innocent error.
Intent
Mistake about an important existing fact.
Mistake of fact.
Symbolic or small form of consideration.
Nominal
Payment that completes an accord.
Satisfaction
Canceling a contract to original positions.
Rescission
Misrepresentation without intent to deceive.
Innocent
A substantial/important mistake allowing contract cancellation.
Material mistake.
When both benefit and detriment are exchanged
Consideration
Promise enforced due to reliance.
(promissory) Estoppel