Reference no: EM133855933

Questions

1. The Claimant bank was able to enforce its security and dispose of the mortgaged property in CIBC Mortgages plc v Pitt because it was not fixed with constructive notice of any undue influence.

True

False

2. Which of the following is NOT a type of Misrepresentation?

a. Negligent

b. Fraudulent

c. Innocent

d. Ambiguous

3. Contracts which are contrary to statute and therefore illegal in formation may be enforced if-

a. Neither party is aware of the illegality

b. There is no real injury to a third party

c. Only one party is aware of the illegality

d. None is correct

4. John is a farmer who grows carrots and beans. He has never been involved in the raising of any animals. in light of the recent drought, John decided to sell his farm to Peter who will use the property for grazing by his cows. When asked prior to the sale, John estimates that the farm can accommodate about 700 cows. After the purchase, Peter realises he can only accommodate 500 cows on the farm.

Your best advice to Peter in light of decided cases would be to:

a. Bear the consequences of his poor business decision unless John is minded to voluntarily relieve Peter of his obligations under the contract.

b. Sue John for Breach of Contract to recover lost earnings as a result of John's breach of contract.

c. Claim unilateral mistake and ask the Court to refuse specific performance of the contract

d. Sue John for Misrepresentation to recover the revenue he would have received if the land could accommodate 700 cows

5. In which of the following type of mistake is there consensus ad idem?

a. Mutual Mistake

b. Common Mistake

c. Unilateral Mistake

d. None

6. According to Dimskal Shipping Co Ltd v ITWF and R v Attorney General, the two criteria for economic duress are that:

a. There must be manifest disadvantage; and the threats should be illegitimate

b. There should be a special relationship between the parties; and the entity alleging duress should have no practical alternative but to submit

c. There must be threats to life or personal injury; and the threats must be illegitimate

d. The threats should be illegitimate; and the entity alleging duress should have had no practical alternative but to submit

7. The case of Dimmock v Hallet illustrates misrepresentation by:

a. duress

b. breach of fiduciary duty

c. half-truth

d. change in circumstances