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True or False Quiz
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1
If the subject matter of a contract was destroyed before the agreement was made, the agreement may be rescinded.
A)True
B)False
2
Charles agrees to sell his business to John so that John will not hurt Charles' children. Charles has experienced undue influence.
A)True
B)False
3
The seller of a house keeping silent about termite damage that the buyer cannot see would be an example of passive fraud.
A)True
B)False
4
A member of a company's board of directors is in a fiduciary relationship to customers of that company.
A)True.
B)False.
5
Ceja does not see the statement "not responsible for theft" printed on the back of the claim stub when she checks her mink coat at the theatre. Ceja may not sue the threatre for theft if the coat is stolen.
A)True
B)False
6
Marek mistakenly believes that the lawn mower he is selling to Evza has a three horsepower engine and so informs Evza. Evza may not successfully sue Marek for fraud.
A)True
B)False
7
A unilateral mistake will not allow one to rescind a contract.
A)True
B)False
8
The general rule today is that ignorance of the law is no excuse.
A)True
B)False
9
Rapid Repair, Inc. disassembled Jose's truck transmission to provide a "free" repair estimate but then insisted that Jose pay $700 in order to have it reassembled. Jose is being subjected to emotional distress.
A)True
B)False
10
A mutual mistake as to value is a mistake that allows a contract to be rescinded.
A)True.
B)False.





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