REALITY OF ASSENT_1

REALITY OF ASSENT_1 - CONDUCT INVALIDATING ASSENT OVERVIEW...

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CONDUCT INVALIDATING ASSENT
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OVERVIEW Law requires that mutual assent be voluntary and knowing Potential causes of action when assent is not both voluntary and knowing Fraud Mistake Duress Undue Influence
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Fraud (in the representation, inducement) (Distinguish from fraud in the execution) All elements must all be present for there to be a claim of fraud False representation of material fact Made with knowledge of falsity and intent to deceive (scienter) Reliance Detriment (damage, injury) If all elements present, contract is voidable, i.e. may be avoided (disaffirmed, rescinded) by defrauded party Also defense to breach of contract
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1. False Representation of Material Fact a. May be by words or conduct May be by concealment rather than affirmative representation Silence generally not false representation unless duty to speak Reed v. King , Case 8-3
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b. Of material fact 1) Fact vs. opinion Except where holding out as expert or having superior knowledge, e.g., Vokes v. Arthur Murray, Inc. , Case 8-2 vs. prediction vs. promise
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This note was uploaded on 12/13/2010 for the course LAW 1101 taught by Professor Reed during the Spring '08 term at CUNY Baruch.

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REALITY OF ASSENT_1 - CONDUCT INVALIDATING ASSENT OVERVIEW...

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