Which of the Following Is True Regarding the Elements That

question 16

Multiple Choice

Which of the following is true regarding the elements that must be satisfied in order for a mutual mistake to interfere with legal consent?

• A) The required elements are: (1) a basic assumption about the subject matter of the contract, and (2) an admission by one of the parties that a misrepresentation occurred.
• B) The required elements are: (1) a basic assumption about the subject matter of the contract, and (2) a material effect on the agreement.
• C) The required elements are: (1) a basic assumption about the subject matter of the contract, and (2) an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement.
• D) The required elements are: (1) a basic assumption about the subject matter of the contract, (2) a material effect on the agreement, and (3) an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement.
• E) The required elements are: (1) a basic assumption about the subject matter of the contract, (2) an adverse effect on a party who did not agree to bear the risk of mistake at the time of the agreement, (3) a material effect on the agreement, and (4) fraud.

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Definitions:

Unrestrained Zeal

Excessive enthusiasm or eagerness that is not limited or controlled.

Justice System

A framework of legal institutions, laws, and practices aiming to ensure fairness, resolve disputes, and punish wrongdoing.

Counterbalance

To oppose or offset the effect of something with an equal but opposite force or influence, maintaining equilibrium.

Prosecution and Defense

The two opposing sides in a court case; the prosecution argues the case against the defendant, while the defense represents and argues on behalf of the defendant.