AFM231 Chapter Notes - Chapter 8: Undue Influence, Perjury, Uberrima Fides

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM231
• Professor: Valerie B Irie

Document Summary

Voidable contract: a contract that, in certain circumstances, an aggrieved party can choose to keep in force or bring to an end: e. g. someone signs a contract under duress. Void contract: a contract involving a defect so substantial that it is of no force or effect. Inequality between the parties: one party is unsophisticated, poorly educated, lacks language ability or has lower economic standing, an improvident bargain, proof of substantial unfairness. Ingredients of an actionable misrepresentation: false, clear and unambiguous, material to the contract. Induces the aggrieved party to enter into the contract: concerned with a fact and not an opinion unless the speaker claims to have special knowledge or expertise, categories of actionable misrepresentation, fraudulent misrepresentation. Speaker deliberately intends to mislead without believing the statement is true: negligent misrepresentation. Speaker has misrepresented a fact: remedies for misrepresentation, fraudulent, rescission in contract, damages in tort, negligent, rescission in contract, damages in tort.