GENUINENESS OF ASSENT
LAW IN SOCIETY
Most everyone knows that in order for there to be a binding contract there must be a "meeting of the minds." But over the past several years I have seen a very surprising number of legal disputes in which that phrase was quite poorly understood, by both parties and their experienced counsel. The governing legal principles are not brand new, but they are in some respects counterintuitive and so there is a widespread misunderstanding of when a party can back out of a deal because of fundamental differences in understandings as to an important contract term.
Genuine Assent is a complete agreement between two competent parties. A party who demonstrates that he or she did not genuinely assent to the terms of a contract may void the contract. Genuine assent may be lacking due to mistake, fraudulent misrepresentation, undue influence or duress. Contracts lacking genuine assent are voidable, not void.
1. Where do you stand? In the hot debate on page 126?
2. Define rescind
3. Use the word in an original sentence
4. What’s your Verdict? Can Cameron rescind his offer and get his horse back?
5. What are the forms of legal duress? Explain each form.
6. Give me an example of true and genuine assent
7. What is duress?
8. Create a PowerPoint in Google Drive Presentation using the “Key Terms” as well as the sub headings for each section in 7-1 Duress and Undue Influence, pages 127 to 129.
9. What is meant by a "Meeting of the Minds"?
10. Give three instances when courts will find that a "Meeting of the Minds" has taken place and has not taken place.
GENUINENESS OF ASSENT 4310-4315
����� A party who demonstrates that he or she did not genuinely assent to the terms of a contract may avoid the contract. Genuine assent may be lacking due tomistake, fraudulent misrepresentation, undue influence, or duress. ����� As was true with contracts entered into by persons lacking contractual