22download_doc-12.php

22download_doc-12.php - L293(3/4/2009) Chapter13...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
L293 (3/4/2009) Chapter 13 Reality of Consent Absence of Consent  o Five doctrines that permit people to avoid their contracts because of the absence  of real consent: Misrepresentation Fraud Mistake Duress, and  Undue influence Effects of Doctrines o Contracts induced by mistake, fraud, misrepresentation, duress, or undue  influence are  voidable  Person claiming non-consent has power to cancel the contract Person claiming non-consent must not act in a manner to ratify (affirm)  the  contract Misrepresentation or Fraud? o A misrepresentation is a false statement  May be negligent (innocent); or  Fraudulent (made with knowledge of falsity and intent to deceive)  o A person who commits fraudulent misrepresentation may be additionally liable for  punitive damages  Elements o 1. Defendant made an untrue assertion of fact Includes active concealment and non-disclosure
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/18/2011 for the course BUS 293 taught by Professor Brown during the Winter '09 term at Indiana.

Page1 / 2

22download_doc-12.php - L293(3/4/2009) Chapter13...

This preview shows document pages 1 - 2. Sign up to view the full document.

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