Management and Organizational Studies 2275A/B Chapter Notes - Chapter 8: Undue Influence, Resale Price Maintenance, Perjury

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

It must prevent people from pulling out of deals because they have found better opportunities elsewhere or have failed to conduct diligent negotiations. It must remedy situations where an apparently valid contract fails to reflect the real agreement of both parties or is fundamentally unjust. There are legal doctrines that are exceptions to the general rules that a contract, once formed, is enforceable. It categorizes these doctrines on the basis of there being: an unequal relationship between the two parties, misrepresentation or important mistakes concerning the contract, a defect within the contract itself. Ex: when someone signs a contract under pressure, it is that person"s chose whether to abide by the contract or seek to have it set aside by a judge. In limited instances, the legal problem is so serious that the aggrieved party has no choice in the matter, a court must declare the contract to be null and void.