.  Which of the following is an example of a unilateral mistake in contract law?*A) Both parties are mistaken about the terms of the contractB) One party is mistaken about the terms of the contract, and the other party knows about itC) Both parties knowingly agree to incorrect contract termsD) One party intentionally conceals the contract terms from the other party

Which of the following statements is incorrect with respect to misrepresentation?Group of answer choicesIt can be fraudulent, innocent or negligentEvery statement made by parties during pre‐contractual negotiations always become terms of the contractA misrepresentation is an untrue statement of fact that induces a party to enter into a contractIt is important to distinguish representations from terms and puff (exaggeration)

An artist entered into a contract to sell a sculpture, believing it to be her original work. The buyer, also believing it to be an original, agreed to purchase it. After the sale, it was revealed that the sculpture was actually a replica made by a third party. What type of mistake does this scenario illustrate, and what is the impact on the contract?a)  Mistake of law; contract is not voidb)  Unilateral mistake; contract is voidablec)  Bilateral mistake; contract is voidd)  Mistake regarding a private right; contract is voidable

Which of the following statements about bilateral and unilateral contracts is not correct?Group of answer choicesA unilateral contract does not require consideration (which means exchange of obligations) but simply a promise to perform an act is sufficientMore than one party is required for both bilateral and unilateral contractsBoth parties are obligated to perform their promises in a bilateral contractOnly one of the parties is obligated to perform an action in a unilateral contract

Which of the following is not a valid exception to the statute of frauds?Multiple choice question.Partial performance by one party to the contract with an interest in real propertyAn admission by one party of the existence of a contractPromissory estoppelA contract that is unprofitable to both parties

Choose TWO of the following examples that demonstrate a buyer breaching a sales contract? (Choose two correct answers.)Multiple select question.John fails to pay for goods when payment is due.Jonathan returns goods as they were damaged when received.Isabella pays the bill for goods when received.Amanda indicates an unwillingness to go ahead with the contract.