Which of the Following Statements Is True About a Court's

question 35

Multiple Choice

Which of the following statements is true about a court's willingness to rescind a contract due to a mistake?

• A) Courts are more willing to rescind a contract when a unilateral mistake has occurred.
• B) Courts are equally willing to rescind a contract whether the mistake is unilateral or bilateral.
• C) Courts are more willing to rescind a contract when a bilateral mistake has occurred.
• D) Neither a unilateral nor a bilateral mistake constitutes sufficient reason to rescind a contract.

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Definitions:

Quarterly Payments

Payments made every three months during a fiscal year, often used for taxes, insurance, or interest payments.

Life Policy

An insurance contract that pays a designated beneficiary a sum of money upon the death of the insured person.

Maximum Loan

The highest amount of money that a lender is willing to lend to a borrower, determined by factors such as creditworthiness and collateral.

Life Policy

A contract with an insurance company that pays out a sum of money either on the death of the insured person or after a set period.