A _____ Is One Where Both Parties Involved in a Contract

question 47

Multiple Choice

A _____ is one where both parties involved in a contract are under a mistaken belief about a material fact.

• A) state of duress
• B) state of undue influence
• C) mutual mistake
• D) unilateral mistake

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Definitions:

Social Phenomena

Behaviors, patterns, or events that influence or are influenced by individuals within a society.

Cognitive Dissonance

A mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Rationalize

The act of justifying behaviors or decisions with logical reasons, often after the fact, to make an action or belief appear more acceptable.

Mere Exposure Effect

A mental effect in which individuals grow more affectionate or preferential towards elements simply due to their familiarity.