LAW 122 Lecture Notes - Lecture 9: Parol Evidence Rule, Contra Proferentem, Collateral Contract
4 Apr 2016
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Document Summary
Contractual term: a provision in an agreement that creates a legally enforceable obligation. A pre-contractual representation is a statement one party makes by words or conduct with the intention of inducing another party to enter into a contract. One of the parties had misrepresentation if a non-contractual statement is false. Misrepresentation: a false statement of an existing fact that causes a recipient to enter into a contract. In contrast, a contractual term is not meant to describe an existing state of facts but rather a promise of future performance. A breach occurs only when one of the parties fails to perform precisely as promised. A misrepresentation occurs only of the speaker claimed it as a fact, An opinion is the statement of a belief or judgment. It is risky to offer an opinion when: Stating an opinion that leads other party to think it must be true, especially opinion within my expertise.
