Chapter11slides

Chapter11slides - Defenses to Contract...

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Unformatted text preview: Defenses to Contract Enforcement-plaintiff proved their side, but now can get out of contract-Look at US GOVT buying bank shares-constitution does not equal fair-does it violate equal protection? Exam 2: similar format as the first-next exam covers one topic (contract law), but six chapter Defense allows a party to avoid its obligations under a contract  4 Basic reqs. Of a contract are present, but something allows one party to avoid the contract Unilateral—One party has a mistaken impression  Exception to chapter 8  Mistaken party cannot avoid Exception: If the non-mistaken party knows of the mistake and takes advantage of it Car a/c example November day Never had a/c, can buyer get out of deal  No b/c it was her mistake, sad but salesperson did not tell/ask her If salesperson said it had a/c then they both could get out of it Exception; if salesperson says it has a/c and lies to her / did nothing  Fraud case Subcontractor bidding Key is on honest mistake instead of fraud Did both have mistake? Either can get out Bilateral mistake Just one? Depends, usually no General rule is the one that makes the contact cannot get out of the contract One exception is if non-mistaken is being taken advantage of Both parties are wrong...
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Chapter11slides - Defenses to Contract...

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