Asked by Kristin Plucinski on Jun 13, 2024
Verified
Misunderstanding occurs when each party has a different understanding of the terms of the agreement, in which case the courts apply a reasonable interpretation of the contract.
Misunderstanding
A failure to understand something correctly, which can lead to conflicts or voidable agreements in legal contexts.
- Understand the critical role of justice-oriented principles in contract law, such as undue influence, misinterpretation, and the principles surrounding unconscionable bargains.
Verified Answer
KF
Kameron FlemingJun 20, 2024
Final Answer :
True
Explanation :
When there is a misunderstanding between parties regarding the terms of an agreement, courts often apply a "reasonable person" standard to interpret the contract, aiming to find an objective understanding of the terms based on what a reasonable person would have understood them to mean.
Learning Objectives
- Understand the critical role of justice-oriented principles in contract law, such as undue influence, misinterpretation, and the principles surrounding unconscionable bargains.