Seminar 5 Misrepresenation & Mistake

Seminar 5 Misrepresenation & Mistake - Business and...

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    Business and law Seminar 5 Misrepresentation & mistake (Srivastava et al, 167-187)
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    Misrepresentation & mistake What is a misrepresentation? Fraudulent misrepresentation Negligent misrepresentation Innocent misrepresentation  What is mistake? Common mistake Mutual mistake Unilateral mistake What are the effects of misrepresentation and  mistake on a contract? What remedies are available to an innocent  party?
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    Misrepresentation  What is a misrepresentation? An untrue statement of [a material] fact, made  by one party to the other in the course of  negotiating a contract, that induces the other  party to enter into the contract. (Oxford Dictionary of Law, 1996) The person making the misrepresentation is  called the  representor , the person to whom it is  made, the  representee.
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    Misrepresentation A misrepresentation is a false statement of an  existing fact or  a past event The representor makes the misrepresentation to induce the  representee to enter into a contract.   The representee enters into the contract in reliance of the  statement. A misrepresentation may be made orally, in writing or by  conduct. By conduct – e.g.  Shum Kong & Others v Chui Ting Lin  [2001] HKEC 651 – see p 175 of Srivastava. Orally – e.g.  Leaf v International Galleries  (1950) In writing – e.g.  Attwood v Small  (1838)
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    Misrepresentation What is not a misrepresentation? Generally the following are not  misrepresentations: An opinion is not usually a statement of fact-  Bissett v Wilkinson  [1927] AC 177 A false statement of law A statement of intention
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    Misrepresentation  Fraudulent misrepresentation
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