Class Notes (834,175)
Canada (508,396)
Rotman Commerce (1,103)
RSM225H1 (70)
Dan Shear (32)
Lecture

misrepresentation

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Department
Rotman Commerce
Course
RSM225H1
Professor
Dan Shear
Semester
Winter

Description
Misrepresentation Contract vs. Tort  When a person makes an innocent misstatement, no tort is committed. If that person later discovers her error, she must inform the other party of the true situation as a message she can.  An innocent misrepresentation becomes fraudulent or negligent if the party responsible fails to correct it when in a position to do so.  Material: could reasonably be expected to influence or induce the decision of a party to enter into a contract  In a contract law, any material misrepresentations are innocent, negligent or fraudulent gives rise to the right to rescind the contract.  If the maker of the misrepresentation also acted fraudulently or negligently, the court maker and damages against the wrongdoer, or if the misrepresentations was an act of innocent without negligence, a node damages will be awarded; the injured parties remedy is restricted to the right to rescind the contract.  A misrepresentation that is incorporated into the offeror becomes a term of the contract, and will give rise to a breach of c
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