For a Contract to Be Dissolved Because of a Mistake,the

question 8

Multiple Choice

For a contract to be dissolved because of a mistake,the law usually requires that both the parties be a part of the:

• A) mistake.
• B) duress.
• C) misunderstanding.
• D) undue influence.

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Definitions:

Revocation

The official withdrawal or cancellation of a right, privilege, license, or contract, often by the party who granted it or by law.

Renunciation

The formal rejection of a claim, right, or possession, often in a legal context.

Gratuitous Agent

A person who voluntarily undertakes to perform a service for another without receiving any compensation.

Undisputed Compensation

Payment or remuneration that is acknowledged and accepted by all parties involved as fair and just, without any objections.