In Cases Where Both Parties to a Contract Are Mistaken

question 30

Multiple Choice

In cases where both parties to a contract are mistaken about either a current or a past material fact,either can choose to ______ the contract.

• A) Uphold
• B) Confirm
• C) Rescind
• D) Refute
• E) Disclaim

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Definitions:

20 Years

A period or duration of two decades.

Compounded Monthly

A term referring to the calculation of interest on the initial principal and also on the accumulated interest from previous periods, computed each month.

6.2%

A percentage expressing a portion, often signifying a rate such as an interest rate, growth rate, or efficiency ratio.

2 ½ Years

A time period of two and a half years.