Philosophy 2080 Lecture Notes - Clean Hands, Undue Influence
Document Summary
Lecture 4 contracts ii: mistake, misrepresentation and duress. 5 factors to determine legality of contract: consensus, legality, capacity, consideration, intent. Arguments that result in no contract even though it appears there is: mistake. Legal definition; much narrower than the dictionary definition. When both parties are mistaken by the existence of the subject matter at no fault of their own, there is no contract. Example: mistaken about the term of the contract: I send an email offering to buy 1000 computers for million and the person accepts. However, when the email was sent the person thought he was buying 1000 pcs and the other thought he was selling 1000 macs. Both are mistaken about the essential terms lack of consensus. Example: suppose i learn of the mistake. It is beneficial to me (take advantage of the other"s carelessness). Can"t take advantage of someone else"s carelessness.