MCS 3040 Chapter 8: Chapter 8

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Andrew Mac Dougall

Document Summary

Normally, the law is concerned with enforcing contracts, and it is difficult to (cid:28705)(cid:28661)(cid:28660)(cid:28662)(cid:28670) (cid:28674)(cid:28680)(cid:28679)(cid:28706) (cid:28674)(cid:28673)(cid:28662)(cid:28664) (cid:28684)(cid:28674)(cid:28680) (cid:28667)(cid:28660)(cid:28681)(cid:28664) (cid:28664)(cid:28673)(cid:28679)(cid:28664)(cid:28677)(cid:28664)(cid:28663) (cid:28668)(cid:28673)(cid:28679)(cid:28674) (cid:28660) (cid:28662)(cid:28674)(cid:28673)(cid:28679)(cid:28677)(cid:28660)(cid:28662)(cid:28679). Otherwise, the value of contracts would be lost. Exceptions to the general rule that a contract is enforceable. Sometimes, however, it is necessary for the court to intervene and allow a party to cancel or to avoid a contract. Situations where a court might assist a party to cancel a contract. Where there is a relationship between the parties. Where one party has misrepresented an important fact. Where an important mistake has been made. Where there is a defect within the contract itself. Voidable contract a contract that in certain circumstances an aggrieved party can choose to keep in force or bring to an end. Void contract a contract involving a defect so substantial that it is of no force or effect.