BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Stress
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Confusion
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Undue Influences
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Recession
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Detailed explanation-1: -The use of undue influence by one party over another puts the free will of one of the parties entering the contract into question, and therefore leads to the contract being unenforceable and voidable by the victim party.
Detailed explanation-2: -Fraud in the inducement occurs when a person tricks another person into signing an agreement to one’s disadvantage by using fraudulent statements and representations. Because fraud negates the “meeting of the minds” required of a contract, the injured party can seek damages or terminate the contract.
Detailed explanation-3: -When consent to an agreement is caused by undue influence, the agreement is a contract voidable at the option of the party whose consent was so caused.
Detailed explanation-4: -Duress in contract law is focused on the concept of undue influence. This means the use of false imprisonment, threats, force, psychological pressure, or coercion to influence someone to act in a way that is not in their best interest or to act in a manner they do not wish to act.