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22download_doc-12.php - L293 Chapter13 RealityofConsent...

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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
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