Ch 11-12 BLAW3430

Ch 11-12 BLAW3430 - Ch 11 Conduct & Invalidating Assent...

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

View Full Document Right Arrow Icon
Ch 11 Duress - wrongful or unlawful act or threat that overcomes the free will of a party - physical compulsion= makes the agreement void - improper threats (economic and social coercion)= make the contact voidable Undue Influence - taking unfair advantage of a person by reason of a dominant position based on a confidential relationship - makes the contact voidable FRAUD Fraud in the execution (intention; very rare) - deceit that causes a person to sign a document different that what the person believes he or she is signing - makes the agreement void Fraud in the Inducement (intentional)- the contact is voidable if ALL of the following are true: - false representation - fact - materiality - scienter (knowledge of falsity & intention to deceive) - justifiable reliance MISTAKE Mistake- an understanding not in accord with the facts Mutual mistake - makes the contact voidable by either party unilateral mistake - no relief for mistaken party Palpable Unilateral Mistake - contact is voidable by mistaken party CONSIDERATION General rule: if a promise is not supported by consideration, the promise is not legally enforceable under contract law Elements of consideration: - legal sufficiency: a legal benefit to promisor or a legal detriment by promissee
Background image of page 1

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

View Full DocumentRight Arrow Icon
- bargained for exchange= an act done in the past (past consideration) is not consideration for a present promise - Most bilateral contacts (a promise made in return for a promise) do NOT have a consideration problem -
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 4

Ch 11-12 BLAW3430 - Ch 11 Conduct & Invalidating Assent...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online