Unformatted text preview: I tell you a lie to get you to do/ buy something a. 1) an untrue 2) factual 3) statement 4) made to induce entry into contract b. Lie must be able to be proven as a lie, can’t be opinion c. State of mind of lying party matters for compensation of damages: c.i. Negligent: not knowing if there are termites or not and saying there aren’t, but it turns out there are c.ii. Intentional (fraud): knowing there are, saying there aren’t c.ii.1. Can result in punitive damages d. Silence= can result in misrepresentation if there is a duty to speak d.i. Duty to speak= you have to say something if there is a defect in subject matter of contract CAN ALSO RESCIND IF: A contract that must be written is not written *contracts that must be written: 1. Any contract dealing with land 2. co-siging a loan 3. Anything that cannot completed in under a year 4. UCC term- tangible goods over $500 (watch out for mixed contracts pg. 110)...
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This note was uploaded on 11/21/2011 for the course BUS 207 taught by Professor Perello during the Fall '03 term at Cal Poly.
- Fall '03