BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Rescission is conduct suggesting you intend to be bound by the contract. The absence of genuine assent will make the contract voidable. Committing an act of violence to obtain a signature on a written contract is duress.

Detailed explanation-2: -Ratification is conduct that confirms an intent to be bound by the contract. Grounds for a recession due to a lack of genuine assent include duress, undue influence, mistake, misrepresentation, and fraud.

Detailed explanation-3: -In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence.

Detailed explanation-4: -If one party makes a unilateral mistake of fact and the other party knew or should have known that a mistake was made, the mistaken party will not be permitted to rescind the contract.

Detailed explanation-5: -A mutual mistake occurs when the parties to a contract are both mistaken about the same material fact within their contract. They are at cross-purposes. There is a meeting of the minds, but the parties are mistaken. Hence the contract is voidable.