B LAW301 Lecture Notes - Lecture 9: Uberrima Fides, Rescission, Equitable Remedy
3 Apr 2017
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Contractual term: a provision in an agreement that creates a legally enforceable obligation: breach of contract if false. Definition: a false statement of an existing fact that causes a recipient to enter into a contract. A misrepresentation only occurs if the speaker claimed to state a fact. Not: opinion: statement of a belief or judgement. Constitutes misrepresentation if it is made fraudulently or the future conduct is described in terms of a present intention: statement of law: Misrepresentation does not arise simply because you inaccurately describe a law, i. e. telling someone zoning laws do not apply. However, there may be misrepresentation if you inaccurately describe the consequences of a law, i. e. telling someone zoning approval has been granted. Definition: cancellation of a contract, by the parties or the court, with the aim of restoring the parties to their pre-contractual state (available for all types of misrepresentation). Terminates contract ab inito (from the beginning); contract treated as if it never existed.
