LAW 122 Lecture Notes - Lecture 8: Risk Management, Contra Proferentem, Golden Rule

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Statements made during the negoiaion of a contract. Pre-contractual representaions: a statement made by one party (through words or conduct) with the intenion of inducing another party to enter into a contract, does not impose a contractual obligaion: if false = misrepresentaion. Contractual terms: provision in an agreement that creates a legally enforceable obligaion (e. g. promissory statement; agreement to do something in the future, if false = breach of contract. Therefore, consequences are diferent; have diferent legal efects (acionable misrepresentaion vs. breach of contract) Representaions statements made to induce contract do not become contractual promises. May be acionable if they falsely induce contract: acionable if mis-representaion (i. e. if pre-contractual representaion is false) Misrepresentaion deined: a statement of an exising fact (i. e. statement about the past or present) , that is false when made , may be acionable if it induced a contract. Note: in a contract, there is a promise of future performance.

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