BUS 393 Lecture Notes - Lecture 2: Standard Form Contract, Car Rental, Unconscionability

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 393
• Professor: ALL

Document Summary

Exclusion clauses: exclusion clauses: form part of the contract if certain conditions are met. Businesses can manage risk of liability: standard form contract (take it or leave it) Waivers, disclaimers, exculpatory, exclusion clauses, consent forms: all of them limit liability of one of the parties. If they don"t follow the ec, it doesn"t meet fairness standards. Summary: contract for design and construction of a highway. Prior to, other companies had submitted responses to the ministry of transportation and highways of bc (their interest). Impactors of the contract: exemption clauses, mistakes. One-sided or unilateral: misrepresentation: false/misleading statements or omissions that induce someone to enter. If you lie, have a reason to invalidate the contract: could be fraud, duress and undue influence. Don"t exert pressure, force people, or do things that are unethical and unfair. Duress: free will to bargain is lost: coercion, threat of violence, imprisonment, scandal, damage to property, inappropriate economic pressure.