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A Contract Is Always Enforceable Even If One Party Is

question 31

True/False

A contract is always enforceable even if one party is aware that the other party made a mistake of fact.


Definitions:

Formal

Adhering to established conventions or requirements; official.

Purchase Price

The amount of money paid to buy goods, services, or assets.

Offeror

The party in a contractual agreement who proposes the terms of the contract to the offeree for acceptance.

Binding Contract

An agreement that is legally enforceable, with clearly defined obligations and rights for all parties involved.

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