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Lecture

Backing Out of Contracts.docx

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Department
Business
Course
BU231
Professor
Valerie Irie
Semester
Fall

Description
Backing Out of Contracts: Mistake & Misrepresentation  Mistake as a Legal Concept o General mistakes do not provide legal grounds for getting out of a contract o Mistakes that provide cause to end a contract  Terms  Inadvertence (VOIDABLE) o The words I used weren’t what I meant, essentially a typo  Meaning (VOID) o The meaning to each party is different and so there was no a level of understanding  Subject Matter  Existence (VOID) o  Value (VOIDABLE) o If the value is u
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