LAW 122 Chapter 9: Chapter 9 LAW122 - word
6 Sep 2016
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Contractual term: a provision in an agreement that creates a legally enforceable obligation, it is a promissory statement. agrees to do something in the future. Pre-contractual representation: a statement one party makes by words or conduct with the intention of inducing an- other party to enter into a contract. Misinterpretation: when a non-contractual statement is false, result in legal liability, a false statement of an existing fact that causes a recipient to enter into a contract, only based on future performance not past or present. Breach of contract: when a contractual statement is not fulfilled, they fail to perform precisely as promised. Can be fraudulent if expressed in present mind/intention and the statement is false. 9/6/16: when a special relationship exists between the parties you are required to disclose all relevant facts (the cannot wait for you to ask the question they just have to be up front).
