MGMT 209 Lecture Notes - Lecture 9: Rescission, Oopsy Daisy, Undue Influence
Document Summary
Section 1: voluntary consent: recall that as a part of the agreement condition for a contract to be legal, there has to be. Ii. definite acceptance on the offeree"s half (unequivocal assent) It is possible that the assent was not actually voluntary consent because there is no true meeting of the minds meaning the two parties weren"t on the same page in terms of what was going on. This usually manifests as one of four conditions: mistakes, fraudulence, undue influence, or duress. If any of these conditions is present, the party with the lack of choice has the opportunity to opt out of the contract (discharge it: mistakes - oopsy daisy . Mistakes are errors or unconscious ignorance/forgetfulness of a past or present material fact to the contract. A material fact is a fact that a reasonable person would consider important when trying to decide what to do.
