BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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No misrepresentation, duress or undue influence
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Give time to their business partners
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Money or free items
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A set abide of rules following the 2010 Act.
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Detailed explanation-1: -Misrepresentations are false statements of truth that affect another party’s decision related to a contract. Such false statements can void a contract and in some cases, allow the other party to seek damages.
Detailed explanation-2: -The defense of duress exists to protect against contracts that are obtained by some type of threat or coercion. The defense of undue influence exists for a more specialized role, to protect against assent obtained by unfair persuasion.
Detailed explanation-3: -’Undue influence’ defined.-(1) A contract is said to be induced by ‘undue influence’ where the relations subsisting between the parties are such that one of the parties is in a position to dominate the will of the other and uses that position to obtain an unfair advantage over the other."
Detailed explanation-4: -If a party to the contract relies on the fraudulent misrepresentation and enters into a contract based on that misrepresentation, the contract is voidable by the innocent party.