1 / 7

Chapter 7 Genuineness Of Assent

Chapter 7 Genuineness Of Assent. Brad, Jeff, Brittany, Luke. Genuine Assent And Duress. Genuine Assent- A true and complete agreement. Duress- Occurs when one party uses an improper threat or act to obtain an expression of agreement.

bien
Download Presentation

Chapter 7 Genuineness Of Assent

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter 7 Genuineness Of Assent Brad, Jeff, Brittany, Luke

  2. Genuine Assent And Duress • Genuine Assent- A true and complete agreement. • Duress- Occurs when one party uses an improper threat or act to obtain an expression of agreement. • Undue Influence- Occurs when one party to the contract is in a position of trust and wrongfully dominates the other party.

  3. Undue Influence And Assent • Undue Influence- Occurs when one party to the contract is in a position of trust and wrongfully dominates the other party. • The Relationship • Relationship of trust, confidence or authority must exist between parties of contract • Unfair Persuasion • Stronger party should act with complete honesty

  4. Types Of Contractual Mistakes • Unilateral mistake- Occurs when only one party holds an incorrect believe about the facts or laws related to the contract. • Mutual mistake (bilateral mistake)- Both parties have an incorrect belief about an important fact or the applicable law. • Material Fact- important facts that influence the party’s decisions about a contract.

  5. Misrepresentation • Innocent misrepresentation- In contract negotiations parties make statements that turn out to be untrue. • Fraudulent misrepresentation- If the seller knows that the statement is untrue.

  6. Untrue Statements of Fact • Active Concealment-Substitutes false statement for fact. • Silence • Omits important information • True statement is made false • Party knows a false assumption

  7. FraudAndRemediesForFraud • Fraud-When a person deliberately lies or conceals a material fact. • Based on same elements from misrepresentationalong with two additional elements, which are intentand injury • Remedies for fraud • Rescission • Damages • Punitive damages

More Related