Under the Doctrine of ______,A Court May Invalidate an Agreement

question 24

Multiple Choice

Under the doctrine of ______,a court may invalidate an agreement if one party had sufficient influence and power over the other as to make genuine assent impossible.

• A) fraud
• B) mistake
• C) undue influence
• D) detrimental reliance

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Definitions:

Tax Exemptions

Deductions from taxable income or specific revenues not subject to taxation, often granted to encourage certain activities or investments.

Patent

Guarantee to an inventor exclusive rights to an invention for 17 years.

Economic System

The organized way a country allocates its resources and distributes goods and services to its citizens, including capitalism, socialism, and communism.

Major Industries

Key sectors of the economy which are significant in terms of their output, employment, or revenue generation.