Introductory Business Law CLEP Prep Practice Exam

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Prepare for the CLEP Business Law Exam with flashcards and multiple-choice questions. Each question comes with hints and explanations to help you succeed. Master the content and pass your exam!

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What is the legal principle that explains that a contract can be enforced even though an error was made in the agreement?

Impersonal principle
Unconscionability
Offer and acceptance
Mutual mistake

The correct answer is: Mutual mistake

The legal principle being described is known as mutual mistake, which means that both parties accidentally made an error in the contract. Option A, impersonal principle, is not a recognized legal term and does not relate to contract enforcement. Option B, unconscionability, refers to a contract being so one-sided or unfair that it would be unjust to enforce it. Option C, offer and acceptance, is a basic principle of contract law, but it does not specifically address errors in the contract. Therefore, option D, mutual mistake, is the best answer as it directly relates to the question and explains how a contract can still be enforced despite an error being made.