Class Notes (836,067)
Canada (509,611)
Business (3,286)
BU231 (319)
Valerie Irie (103)
Lecture

Impeachment of K.docx

3 Pages
41 Views
Unlock Document

Department
Business
Course
BU231
Professor
Valerie Irie
Semester
Fall

Description
Recession: -can in fact reside contract by agreement -defect and want it set aside is impeachment -saying want contract to go away -not same as when one party fails to perform contract -this is breach of contract, may discharge other party -breach to put parties in position had contract been performed -rescission back into position if contract never been performed Mistake in Terms: -sit down and want to negotiate maybe aren’t face to face -forget, there was an error, 10 instead of 1 -reality is that what a typographical error -look to evidence earlier email offered, response not reasonable -would reasonable bystander recognize this as typographical error (legal test) -one writing back and forth, other way error in recording -both parties agree face to face, want to put it in writing, someone types it up and they make an error -forgotten something, typed an error -look and say there is a mistake there -mistake end up being favour in one person -have rescission -if contract is incomplete/vague -court won’t make contract for you -contract considered voidable -situation where you have language interpreted in more then one way -be very clear in your language -court very rarely voids contract, completely as if it never existed -shipment arrives 2 months late according to purchaser -contract was not very good anymore for purchaser -vendor maintained that it was not late, it was exactly on time, therefore purchaser was breaching contract -went to court plaintiff was vendor, for not purchasing cotton -in course of trial by pure chance, when negotiated contract there were two ships at harbour in India, both shipping out cotton -both called ‘Peerless’, never said which ship it was -because vague there, court found plaintiff didn’t need burden of proof -therefore defendant was allowed to ask for rescission -contract was made void by defendant -effect parties asked for rescission -mistake in terms, vagueness, want rescission Mistake in Assumption: -goods don’t exist, under circumstances so then vendor breaching contract -vendor would defend with a mistake in assumptions respect to existence of subject matter -ask for rescission -becomes voidable at their option -purchaser loses right to sue, has to be legitimate -lets move it to today -now have an issue, everyone has a way to communicate -that information is quickly communicated, someone storing goods, and goods destroyed in place of storage, but don’t know yet -same principle Mistake and Innocent 3 Parties: -two innocent victims -make decision who has to bear the loss -how does first person get goods back -order to pursue recovery of goods, or money -person has to resort to tort of conversion -if voidable then have to make sure third party is innocent Non Est Factum: -saying I did not agree to this -did not read document, have to read by courts -really hard in this day where everyone is literate these days, very hard to succeed Misrepresentation: -made before formation that turns out to be false -statement oral or written -in this case tort of deceit -tort of carelessness if misrepre
More Less

Related notes for BU231

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit