Question

Genuine assent-how to create-it or destroy it. Review what comes under this legal/contract concept.

Answer 1

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.

 A valid offer and valid acceptance generally results in an enforceable contract.  If one of the parties used physical threats to acquire the other person’s signature on a contract, then there isn’t really a genuine agreement.  genuine agreement (genuine assent or mutual assent)exists when consent is not clouded by fraud, misrepresentation, duress, undue influence, or mistake.  If genuine agreement is missing, the victim may cancel or disaffirm the contract because the contract is voidable.  voidable contractcontract in which the injured party can withdraw, thus canceling the contract.  rescissionbacking out of the transaction by asking for the return of what you gave and offering to give back what you received. to be effective, it must occur shortly after you discover that there is no genuine agreement. it must occur before you ratify the contract.  ratificationacting toward the contract as though one intends to be bound by it.