Mistake
Misrepresentation
Duress & Undue Influence
Negotiable Instruments
Discharging Contractual Obligations
100
when both parties have made the same serious error
What is Mistake?
100
It involves false and misleading statements
What is misrepresentation?
100
A force or threat to enter into a contract
What is duress?
100
Substitutes for money or instruments of credit that bestow unique benefits
What is negotiable instruments?
100
Failure to properly perform the obligations agreed to in a contract
What is breach of contract?
200
Where court corrects the written wording of a shared mistake in the contract
What is shared rectify?
200
A duty where an agent has a duty to act in the best interests of a principal
What is duty of good faith?
200
Where there is a contract but one of the parties has the option to end it
What is voidable?
200
An innocent third party entitled to collect on a negotiable instrument in spite of any claims of the original parties
What is holder in due course?
200
Major terms of a contract
What is conditions?
300
When two parties to a contract have a different unsderstanding as to the meaning of a specific provision
What is Misunderstandings?
300
Returning the parties to the postion they were in before the contract
What is rescission?
300
A special relationship that induces a person to enter a contract to his disadvantage
What is undue influence?
300
A type of negotiable instrument where a maker promises to pay the amount stated on the instrument to a payee
What is promissory note?
300
Minor terms of a contract
What is warranties?
400
Where only one of the parties makes a mistake with respect to the nature or effect of a contract
What is a one sided mistake?
400
Where the person making the misleading statement does not believe it to be true
What is fraudulent misrepresentation?
400
When one of the parties to a transaction is under extreme disadvantage
What is unconscionability?
400
A special form of bill of exchange drawn on a bank, payable on demand
What is cheque?
400
Repudiation of contract before performance is due
What is anticipatory breach?
500
Where a party is not bound by terms of a document because he did not understand the nature of the document signed
What is non est factum (It is not my act)?
500
Where the person making the misleading statement believes it to be true but has been careless in that belief
What is negligent misrepresentation?
500
When duress can also be claimed where the threats are against a property
What is economic duress?
500
Negotiable instrument where drawer directs the drawee to pay out money to a payee
What is bill of exchange?
500
Victims of breach must make an effort to lessen the loss
What is mitigation?
M
e
n
u