LAW 122 Lecture Notes - Lecture 9: Uberrima Fides, Rescission, Force Majeure
26 Feb 2015
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Chapter 9-representations and terms: pre-contractual and contractual statement, a statement becomes a contractual term only if it is included in the agreement as a legally enforceable obligation. A contractual term is, by its very nature, a promissory statement. The person who makes it voluntarily agrees to do something in the future: a pre-contractual representation is a statement one party makes by words or conduct with the intention of inducing another party to enter into a contract. In contrast, a contractual term is not meant to describe an existing state of facts, but rather it provides a promise of future performance: a contractual term cannot be false when it is given. Nor can a breach of contract occur as soon as such a promise is made: a breach occurs only when one of the parties fails to perform precisely as promised.
