The Term for When Both Parties to a Contract Are

question 29

Multiple Choice

The term for when both parties to a contract are mistaken about the same fact is called?

• A)Mutual mistake
• B)Mutual duress
• C)Unilateral mistake
• D)Unilateral duress

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Definitions:

Concrete Operational Thought

Piaget’s term for the ability to reason logically about direct experiences and perceptions.

Formal Operational Thought

The final stage of cognitive development (according to Piaget), characterized by the ability to think abstractly, logically, and systematically.

Imaginary Audience

A psychological concept where an individual imagines and believes that multitudes of people are enthusiastically listening to or watching them.

Invincibility Fable

A cognitive bias often found in adolescents, believing themselves to be immune to common dangers.