LAWS 3003 Lecture Notes - Lecture 7: Rescission, Collateral Contract, Specific Performance
Document Summary
An opinion can be transformed into a statement of fact when it is made by someone with superior skill and knowledge about the contract. Things may become binding if they are part of the contract, but how do we know when they become part of the contract. To induce may require that the statement be unambiguous ( whether it is clear, the reasonable person test is used here) That there be reliance on the statement. The representee must"ve relied on the statement to enter the contract. Where the representee knew of the misrepresentation and entered the contract anyway (cid:1) (cid:1) 1) change in circumstances between the time of negotiating the agreement. 2) silence can be a misrepresentation where half truths are told fraudulent misrepresentations negligent misrepresentations innocent misrepresentations. A statement is fraudulent if it is made with knowledge of its falsity or without belief in its truth. Knowledge of its falsity or without belief in its truth.
