Question

If a party to a contract has an intent to deceive the other party, this is known as:

a. scienter.
b. revision.
c. rescission.
d. optimization.

Answer 1

If a party to a contract has an intent to deceive the other party, this is known as:

a. Scienter

Scienter is a term for intent of wrongdoing. For example, if a person sells a bicycle with bad brakes and she knows about the brake problem, then the seller has scienter. The word has the root scie from the Latin (knowingly).

Answer 2

A is the correct answer.

Scienter is when a party to a contract has the knowledge and intent to deceive the other party.