Examlex
The overriding objective of a cartel is to maximize the amount of profit each of its members can earn through cooperation with the other members.
Acceptance
In contract law, refers to the expression by the offeree to agree to the terms of an offer, resulting in a binding contract.
Offer
A proposal by one party to form a contract, which becomes binding if accepted by the party to whom it's made.
Genuineness Of Assent
Knowing and voluntary assent to the terms of a contract. If a contract is formed as a result of mistake, misrepresentation, undue influence, or duress, genuineness of assent is lacking, and the contract will be voidable.
Fraudulent Misrepresentation
Any misrepresentation, either by misstatement or omission of a material fact, knowingly made with the intention of deceiving another and on which a reasonable person would and does rely to his or her detriment.
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