Management and Organizational Studies 2275A/B Chapter Notes - Chapter 11: Undue Influence, Uberrima Fides, Punitive Damages

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: James F Hildebrand

Document Summary

Chapter 11 failure to create an enforceable contract. A tenant who paid the premiums could go to court to recover the money paid on the basis of mistake of law because the premiums are illegal and because the restriction applies only to landlords. Mistake of fact: one rule is that if the parties are not aware or are mistaken to subject matter of the contract, then the contract may be void. For example, sunset sails offers to sell a yacht to beverley and the offer is accepted. Unknown to both parties, there was a fire at the marina were the boat was being held and it destroyed the boat. If the identity of one of the parties is essential to the contract, the contract may not be enforceable. Able company wants a soil testing company to do an inspection. Able company would be able to successfully avoid the contract.