A ________ Exists If Both Parties Know the Object of the Contract

question 68

Multiple Choice

A ________ exists if both parties know the object of the contract but are mistaken as to its value.

• A) unilateral mistake
• B) unilateral mistake of value
• C) mutual mistake of a material fact
• D) mutual mistake of a value
• E) mutual mistake of identity

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Definitions:

Statement of Cash Flows

a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents, and breaks the analysis down to operating, investing, and financing activities.

Investing Transactions

Financial activities related to the acquisition or sale of long-term assets and other investments.

Financing Transactions

Deals and agreements related to raising capital through the borrowing of funds or the issuance of stock in a company.

Ethnorelativistic

Pertaining to an attitude or viewpoint that recognizes and appreciates the value of cultural diversity, understanding that individual behaviors and values are culturally grounded.