Midterm Notes - Combination of textbook and in class lecture

Aggravated reason injuredharmed is bc of defendants

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4. Aggravated – reason injured/harmed is b/c of defendant’s actions to you ex. intentional harm 5. Exemplary/Punitive – to punish wrongdoer and make an example; message to society; purpose is to deter behavior and tell society not to act this way; prevent poor behavior in future Chapter 4 – Professional Liability 1. Duty under contract – contractual obligations that you owe client (Income Tax Return) 2. Duty under tort – obligation to ensure advice to client is accurate; not misrepresented/negligent 3. Duty - breach of the fiduciary duty; duty to account – person who commits a breach of trust to hand over any profits derived from the breach Fiduciary duty - A duty imposed on a person who stands in a special relationship of trust to another. 2. Duty Under Tort Third-party liability – liability to some other person who stands outside a contractual relationship - Misrepresentation – o tort of deceit/fraudulent misrep. – INTENTIONAL TORT; damage is caused by a false statement made with the intention of misleading another person o Negligent misrepresentation – UNINTENTIONAL tort; incorrect statement made without due care for its accuracy, and injury is caused
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5 Elements of Negligent Misrepresentation – must prove all 5 1. Duty of care are based on a special relationship between the representor and the representee 2 Representation must be untrue/misleading 3. Representor must be negligent 4. Representee must have reasonably relied on the untrue statement 5. Reliance was detrimental to representee and resulted in damages Detrimental reliance – worsening of situation after acting upon false information Omissions – providing partial/incomplete info. to an inquiry can be negligent misrep. - Ex. Fine Flowers insurance agent never told that insurance coverage excluded water damage Chapter 5/6(135-140) – Formation of a Contract: Offer and Acceptance - Has to be an exchange of values - Contract has 3 forms: oral, written/verbal, combination - “Restitution” not a contract (ex. loan $ interest free) 5 Elements that must exist 1. Offer – someone must start the process; writing/verbal/oral 2. Acceptance – 3. Consideration - exchange of value; value paid for the promise made (doesn’t have to be money) 4. Legal Capacity – sound mind/mental capability; adult (21 under common law; 18 under age of majority legislation (Ontario)) 5. Intention – to create a legal relationship ** NOT A CONTRACT IS ONE ELEMENT IS MISING Offeror – making offer; dictates method of communication Offeree – receiving offer; must follow method of communication “Mailbox Rule” – contract once offeree mails leter of acceptance; no longer offeror/offeree promisor/promise; once offer is put in mail, doesn’t matter if revocation was mailed prior and received after - Law places more responsibility to offeror; if they wanted to revoke, they just use all means to communicate to the offeree before they put their acceptance in the mail Offer (not contract) Termination 1. Revocation – offeror provides notice of revocation any time before acceptance
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