Law 2101 Study Guide - Quiz Guide: Netherlands, Consumer Rights Act 2015, Lloyds Bank Ltd V Bundy
Document Summary
Contract law defects of consent and misrepresentation. Civil law where there is a defect" in the intention (because it is based on a wrong assumption) this must affect the validity of the contract. Traditionally, three defects of consent are accepted: mistake, fraud, threat, several jurisdictions also allow avoidance of the contract for undue influence. Self-induced misaprehension avoidance on the basis of mistake not caused by a misrepresentation; scope very limited. 1132 cc: germany - 119 bgb and 122 bgb, the netherlands art. The contract wouldn"t have been concluded under the same conditions on a correct assessment of the facts. The mistake is caused by incorrect information given by the other party. A party can"t rely on just any information. More concrete statements made by the other party can become part of the contract itself e. g. if a seller says that the product is fit for a certain use or has a certain quality.
