LAW 122 Lecture Notes - Lecture 10: Unconscionability, Undue Influence, Risk Management
18 Dec 2017
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Contractual defects: misrepresentation: (if you knew you wouldn"t have entered the contract) Test: look at if the statement made was fact or opinion: we are the greatest in the world" is false because it"s an opinion. A statement of an existing fact that is false when it is made, may be actionable against if it induced a contract. Contract being negotiated is of utmost good faith. To be misrepresentation, false statement induced deceived party to enter contract. Generally, contract will not be enforced: rescission: not good if part of contract has already been fulfilled. Restoration of money, land, or goods: incapacity: General rule: people who need a guardian/caretaker legally usually aren"t allowed to enter a contract and will not be held to anything they say. Usually to people who are underage or mentally ill. It depends on the degree of illness that the person who wants to enter a contract has; they may be allowed to enter that contract.
