LAW 321 Lecture 4: Lecture 4
Document Summary
Topics: privity of contract, representations and terms, misrepresentations, contractual terms, conditions and warranties, remedies, expectation damages, mitigation, remoteness, specific performance. In general, with exceptions, only someone who has provided consideration can sue or be sued on a contract. Misrepresentation: a misrepresentation is a false pre-contractual statement. It has to be a fact and the other party had to have relied on it to enter into a contract. Examples: an incorrect statement of belief or opinion, an incorrect statement made without any contractual intent (sales talk), an incorrect statement of fact not relied upon, for a pre-contractual statement to be actionable as a misrepresentation: It must be an incorrect statement of an existing fact when made; and: the innocent party must have been induced to enter into the contract (if only in part) by the incorrect statement of an existing fact. There has to be reliance: there are two possible remedies for the deceived party, rescission, damages.
