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

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

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

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