LAW 122 Lecture Notes - Lecture 9: Specific Impulse, Unconscionability, Transact
28 Feb 2018
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May be actionable if it induced a contract. When is a statement not a fact. Opinions, predictions, or statement of law are not statements of fact. Opinions vs fact = (car is reliable v the mechanic examined and said the car is reliable) Fact (zoning laws don"t apply v. zoning has been approved) Parties are not required to disclose material facts during negotiations, unless: Contract being negotiated is of utmost good faith. A special relationship exists between the parties. If any of this happens, it will be misrepresentation. Note: rescission and restitution are usually combined and apply to all kinds of misrepresentations, namely: innocent, fraudulent and negligent. Damages apply only to fraudulent and negligent misrepresentations, not innocent representations. Paint may already be applied to house. Restitution may be denied if third party rights. House may already be re sold to honest purchaser. Restitution may be denied if contract affirmed . Purchaser may already have acted as owner.
