AFM231 Lecture Notes - Lecture 8: Parol Evidence Rule, Undue Influence, Unconscionability

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM231
• Professor: Darren Charters

Document Summary

Parties that are presumed to need protection. Parties that entered into a contract under false assumptions/information. Important to assess how serious the breach is. Whether it is minor or major if there is damages you can always claim them (might affect about) If i am an innocent party and i entitled to leave the contract. Law says it depends on the nature of the breach. If its minor term or warranty then you might not be able to leave the contract. Sometimes the innocent party is that they are really angry and stick it to them. If you leave the contract and are not allowed to you might end up with a counter claim and be sued. Non-performance due to argument the contract should not be enforced. A void contract is one that is considered legally until it is canceled a voidable contract is never considered a legal argument.