In a Legal Sense, Mistake Is

question 46

Multiple Choice

In a legal sense, mistake is

• A) an error of judgment.
• B) narrowly defined and limited in scope.
• C) a misrepresentation.
• D) a mistake of fact.
• E) a misunderstanding.

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Definitions:

Purpose Clause

A section within a legal document or law that outlines the intent or goal of the document or statute.

Model Business Corporation Act

A model set of laws prepared by the American Bar Association that serve as a guide for state legislations to regulate corporate formation, operation, and dissolution.

Minority Shareholder

An investor who owns less than 50% of a company's shares, holding less control over decisions.

Oppression

The officers, directors, or controlling shareholder’s isolation of one group of shareholders for disadvantageous treatment to the benefit of another group of shareholders.