Examlex
What are the three ethical decision criteria? Explain.
Interpretation
The process of explaining, defining, or clarifying the meaning of words, texts, or actions.
Bilateral Mistake
A misunderstanding where both parties involved in a contract have an incorrect belief about a basic assumption on which the contract is based.
Mistake Of Value
An error made by one or both parties at the time of entering into a contract, regarding the value or worth of the subject matter of the contract.
Voidable
Refers to a contract that is valid and enforceable unless challenged and declared void by a party to the contract who is deemed to have been disadvantaged or defrauded.
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