LAW 122 Lecture Notes - Legal English, Contractual Term, Parol Evidence Rule
27 Nov 2012
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Document Summary
Pre contractual representation: a statement one party makes by words or conduct with the intention of inducing another party to enter into a contract. Contractual term: a provision in an agreement that creates a legally enforceable obligation. If a non-contractual statement is false, it is defined as a party"s misrepresentation. If a contractual statement is not fulfilled, it is defined as a party"s breach of contract. Misrepresentation: a false statement of fact that causes the recipient to enter in to a contract. When an opinion is false it is not considered to be misrepresentation rather a misstatement. Statement of future conduct: is not a statement of fact as it is only an indication of a person"s future intentions. As a general rule, parties are not required to disclose material facts during pre-contractual negotiations, no matter how unethical non-disclosure may be.
