es 2 00 understand contract law n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
ES 2.00 UNDERSTAND CONTRACT LAW PowerPoint Presentation
Download Presentation
ES 2.00 UNDERSTAND CONTRACT LAW

Loading in 2 Seconds...

play fullscreen
1 / 10

ES 2.00 UNDERSTAND CONTRACT LAW - PowerPoint PPT Presentation


  • 96 Views
  • Uploaded on

ES 2.00 UNDERSTAND CONTRACT LAW. Obj. 2.01 Understand the elements and characteristics of a contract 2.01 B Genuine Agreement. GENUINE AGREEMENT (ASSENT). A valid offer has been made by the offeror, and a valid acceptance has been exercised by the offeree

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'ES 2.00 UNDERSTAND CONTRACT LAW' - guri


Download Now 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.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
es 2 00 understand contract law

ES 2.00 UNDERSTAND CONTRACT LAW

Obj. 2.01 Understand the elements and characteristics of a contract

2.01 B Genuine Agreement

genuine agreement assent

GENUINE AGREEMENT (ASSENT)

A valid offer has been made by the offeror, and a valid acceptance has been exercised by the offeree

Several causes for genuine agreement to be lacking in a contract

Duress

Undue Influence

Unilateral or Mutual Mistake

Innocent Misrepresentation

Fraudulent Misrepresentation

duress

Overcoming a person’s free will by use of force or by threat of force or bodily harm

  • Threats of Illegal Conduct
  • Threats to Report Crimes
  • Threats to Sue
    • Threats to sue made for purpose unrelated to the suit
  • Economic Duress
    • Threats to a person’s business or income
Duress
undue influence

Unfair and improper persuasive pressure within a relationship of trust

  • Must be able to prove:
    • Relationship of trust, confidence or authority
    • Unfair persuasion
Undue Influence
unilateral mistake

An error on the part of one of the parties

  • Does not affect validity of the contract
  • Cannot get out of contract
  • Nature of the Agreement
    • Signing a contract you don’t understand or have not read
    • Signing a contract in a language you don’t understand
Unilateral Mistake
mutual mistake bilateral mistake

Both parties are mistaken about an important fact

  • Impossibility of Performance
    • Contract is impossible to perform
    • Contract is void
  • Subject Matter
    • Either party can void contract
  • Existing Law
    • Contract is valid
    • Parties are expected to know the law
Mutual Mistake (Bilateral Mistake)
innocent misrepresentation

Innocent statement of supposed fact that turns out to be false

    • Statement must be one of fact
    • Statement must be material
    • Statement must be relied upon
  • Injured party has the right to rescind (take back) the offer
  • No rights to damages
Innocent Misrepresentation
fraudulent misrepresentation

Party to a contract deliberately makes an untrue statement of fact

  • Deliberate: Done with or marked by full consciousness of the nature and effects; intentional
  • Deception: The fact or state of being deceived
  • Gain: To secure as profit or reward
  • In order to prove fraud, you must prove the above 3 definitions
Fraudulent Misrepresentation
proving fraudulent misrepresentation

Untrue statement of fact

    • Must be one of fact, not opinion
    • Active concealment
    • Silence – may stay silent about defects except when:
      • statement is about material facts
      • True statement is made false by subsequent events
      • One party knows the other party has made a basic mistaken assumption
  • Materiality
    • Statement would cause reasonable person to contract
    • If one party knows the other party would rely on the statement
    • If one party knows the statement is false
Proving Fraudulent Misrepresentation
proving fraudulent misrepresentation1

Reasonable Reliance

    • One party must reasonable rely on statement
  • Intentional or reckless
    • One party deliberately lies or conceals a material fact
    • One party recklessly makes a false statement of fact, without knowing whether it is true or false
    • Statement must be intended to induce party to enter into contract
  • Resulting Loss
    • Must cause an injury
Proving Fraudulent Misrepresentation