business law assignmnet 1 - Shakeel ahmed(VSS30766 Business...

Info icon This preview shows pages 1–3. Sign up to view the full content.

Shakeel ahmed (VSS30766) , Business and corporation Law, individual assignment Question 1 A ) To advice Eve of her legal rights and the various remedies that she can avail to protect her interests in the given circumstance based on the case facts. Rule There are various conditions that need to be fulfilled in order to have a valid and enforceable contract. One of these conditions is that there should be no misrepresentation which induces either of the parties to enter into the contract. It is imperative to understand misrepresentation and the type of misrepresentation along with the potential remedies available in each case for the aggrieved party based on the judgement in the various relevant cases (Davenport & Parker, 2014). During the negotiation of the contract, statements are made which are known as representation. However, in the event that this representation turns out to be incorrect, then it is called as misrepresentation. Representation may be of three different types which are as follows (Latimer, 2005). 1) Innocent Misrepresentation – This is a kind of representation where the representor has valid grounds on which the information was dissipated and even the representor was not aware that the information was incorrect or false. As a result, there was no intention of fraud in such cases. 2) Negligent Misrepresentation – In this particular misrepresentation, the misrepresentation happens primarily because of the negligence of the representor since there are no valid grounds on which the representation is made. The burden of proof in this particular case lies on the representor to prove that the statement made had valid grounds. An example of negligent misrepresentation is Howard Marine v Ogden [1978] QB 574 case. 3) Fraudulent Misrepresentation – In case of fraudulent misrepresentation, misrepresentation is done intentionally with the objective of luring the other party into executing the contract. It is apparent from the judgement of the Derry v Peek (1889) 5 T.L.R. 625 case that in order for a statement to be qualified for fraudulent misrepresentation, one of the conditions must be satisfied (Gibson & Fraser, 2014). The statement is known to be false.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

The statement is made by the representor without considering whether it is true or not The statement is made without belief on the representor’s part that it is true
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.
  • Spring '16
  • Eve, fraudulent misrepresentation

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern