LAW 122 Study Guide - Condition Precedent, Non Est Factum, Debit Card

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Leigh Lampert

Document Summary

Legal effects of statements made/adopted by parties in connection with their contracts and what happens when those statements are false. And consider how terms can be incorporated into a contract and the standard form agreements in consumer transactions. A statement is contractual only if it is included in the agreement as a legally enforceable obligation; it is a promissory statement (promise of future performance & breach of contract if false). A pre-contractual representation is a statement one party makes by words or conduct with the intention of inducing another party to enter into a contract (statement of existing fact). It doesn"t impose a contractual obligation but may induce the creation of a contract (misrepresentation if false). If non-contractual statement is false, then one of the parties has made a misrepresentation. The nature of misrepresentation: a misrepresentation is a false statement of an existing fact that is false when made which may cause a recipient to enter into a contract.