Blue Manufacturing Company is trying to decide whether to trade in equipment used in its manufacturing process for a newer model.The new equipment will save money because it will be more efficient to use.Indicate if the following items are relevant or irrelevant to this decision.
Definitions:
Untrue Statements
Assertions or claims that are not accurate or correct, often made with the intent to deceive.
Mutual Mistake
A legal concept where all parties involved have a mistaken understanding regarding a basic assumption on which a contract is based, potentially making the contract voidable.
Basic Assumption
A fundamental, often implicit, belief that shapes the framework of individual or collective reasoning and actions.
Coercion
The act of compelling someone to act in a certain way by use of force or threats, often rendering any resulting agreement voidable.
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