LAW 122 Lecture Notes - Lecture 10: Perjury, Specific Performance, Non Est Factum

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Stan Benda

Document Summary

242) by ensure association has capacity/ individual has resources to perform obligations. Statue of frauds: required contract to be evidenced in writing to reduce risk of perjury/ lying in legal proceedings. Managing risk in association w/ writing requirements pg. General principles: occur when error affects basic process of contract formation-> mistake negate agreement-> x contract, mistake pertains to existence of contract"s subject matter-> contract may defective. Mistakes preventing creation of contracts: mistaken identity not render contract defective unless. Mistake was material: one that matters to mistaken party in important way: mistake about subject matter (cross-purposes) The doctrine of frustration: event makes performance impossible/ radically undermines its very purposes apply if neither party is responsible for relevant event if neither party is at fault, may agree that one of them bear risk of loss. Managing risk concerning mistake & frustration pg.