Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. A classic example of -------------------- is the bank manager who assists the robbers in gaining entry to the bank vault because a) they have

1.

A classic example of -------------------- is the bank manager who assists the robbers in gaining entry to the bank vault because a) they have a gun to his head, or b) he reasonably believes they are holding his family hostage.:

A classic example of -------------------- is the bank manager who assists the robbers in gaining entry to the bank vault because a) they have a gun to his head, or b) he reasonably believes they are holding his family hostage.

2.

There was a contract to ship merchandise on a vessel named Peerless. However, the parties involved had a different understanding of each other. Each party was referring to a different vessel, and therefore, they did not agree when to ship the merchandise. In this case, both parties thought they were in consent until they realized were both misguided about each others different meaning is an example of ----------.:

There was a contract to ship merchandise on a vessel named Peerless. However, the parties involved had a different understanding of each other. Each party was referring to a different vessel, and therefore, they did not agree when to ship the merchandise. In this case, both parties thought they were in consent until they realized were both misguided about each others different meaning is an example of ----------.

3.

The equitable remedy of correcting mistakes made in the recording agreement and is only applicable in the case of written contracts.:

The equitable remedy of correcting mistakes made in the recording agreement and is only applicable in the case of written contracts.

4.

Auto dealers lie about the accident history of a used vehicle, and you sign a contract because you thought the car was never in an accident (but it was), then it might be considered as ----------------------.:

Auto dealers lie about the accident history of a used vehicle, and you sign a contract because you thought the car was never in an accident (but it was), then it might be considered as ----------------------.

5.

The duty of both the insurer and the policyholder to act honestly toward each other can be referred to as -------------.:

The duty of both the insurer and the policyholder to act honestly toward each other can be referred to as -------------.

a.Duress

b.rescission

c.utmost good faith

d.Mutual Mistake

e.Fraudulent misrepresentation

f.Rectification

g.mistake of fact

h.negligent misrepresentation

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Payroll Accounting 2020

Authors: Jeanette Landin

6th Edition

1260247961, 9781260247961

More Books

Students also viewed these Accounting questions

Question

=+b. Who would the brand be as a famous person?

Answered: 1 week ago