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Business Law Ch14 Part I
Test Description: Good Luck!
Instructions: Answer all questions to get your test result.
1) A contract is always enforceable even if one party is aware that the other party made a mistake of fact.
A
true
B
false
2) What is the diameter of Earth?
A
8000 Miles
B
16000 Miles
3) A mistake of fact cannot be unilateral.
A
false
B
true
4) Misrepresentation of a material fact is an element of fraud.
A
false
B
true
5) A statement of opinion is generally subject to a claim of fraud.
A
true
B
false
6) Reliance on a expert’s statement of opinion will normally enti¬tle a party to relief.
A
true
B
false
7) Reformation is a remedy in which the terms of a contract are altered to reflect the true intentions of the parties.
A
true
B
false
8) Misrepresentation of a material fact cannot occur through words alone.
A
true
B
false
9) Misrepresentation of a material fact cannot occur through conduct alone.
A
true
B
false
10) Forcing someone to enter into a contract through fear created by threats is duress.
A
true
B
false
*select an answer for all questions
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