ADMS 2610 Chapter Notes -Undue Influence, Non Est Factum

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olivecrocodile263

10 Oct 2012

School

York University

Department

Administrative Studies

Course

ADMS 2610

Professor

all

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Document Summary

Failure to create an enforceable contract not tortillas with dip[anchovies & cheese] Recall requirements for a valid contract: offer, acceptance, consideration, capacity. Mistake one party or both parties have formed an erroneous opinion as to identity of subect matter or an important term: mistake of law. No relief provided: mistake of fact. Mistake as to existence of the subject matter of the contract or the identity of a party. Mistake as to subject matter of a contract. Depends if it is an essential: non est factum. If they can establish they were not aware of the true nature of the document, and were not careless in its execution then they can avoid liability: unilateral and mutual mistake. Mutual mistake mistake where both parties have made mistaken assumptions as to the subject matter of the agreement. Courts will not enforce agreements when the other party is aware of the mistake being made. If both parties make same mistake as :

Related Questions

Insurance Planning-Legal Principles

Define the following legal requirements of an enforceable contract: 1, Offer and acceptance 2. Offer and acceptance 3. Competent parties 4. Consideration

Under which of the following conditions would the signing of a contract by Adam NOT be considered duress?
Answer
A. Ben holds a gun to Adam's head.
B. Ben is holding Adam on the ground threatening to beat him.
C. Ben threatens the entire criminal prosecution process against Adam, "When I finish with you, you'll be underneath the jail!"
D. None of the above, that is, ALL of the above examples would constitute duress by Ben upon Adam.

Andy Youngman called at the used car lot of Shearem & Co. and saw a 1979 automobile with $1000 painted on the windshield. Shearem lied to Andy telling him that the car was a 1980 model, but Andy knew that it was NOT because Andy knew the 1980 models were smaller. Is the contract voidable for Fraud because Shearem said it was a 1980 model?

Answer
A. YES
B. NO

In the above Question #31, was there an offer to sell the car for $1000?
Answer
A. YES
B. NO

Cindy purchases a sparkling stone from Sally for $20. At the time of contracting, neither party had any idea what the stone was. Later, when Sally is cleaning the stone before delivery to Cindy, she discovers that it is an uncut diamond worth $200,000. Based on the above situation:
Answer
A. Sally can have the contract rescinded on the basis of unilateral mistake.
B. Cindy can have the contract rescinded on the basis of unilateral mistake.
C. Either or each of the parties can have the contract rescinded on the basis of mutual mistake.
D. Neither party can have the contract rescinded on the basis of mutual mistake. This is an arms length transaction. The contract stands.

Edsel, an attorney, requests bids for built-in bookcases for his new office. Three contractors, Larry, Curley and Moe submit bids. The bids are $5300, $5100 and $520 respectively. Moe's bid of $520 was way off the mark, considering the specifications that were to be included in the bid. Edsel accepts Moe's bid. Moe then realizes his error and discovers his "missing zero" of his bid. His bid should have read "$5200". Based on the above situation, the contract is probably:
Answer
A. Not voidable; Moe would be forced to complete the contract at the accepted price.
B. Voidable, on the basis of mutual mistake.
C. Voidable on the basis of unilateral mistake.
D. Voidable on the basis of fraud.

Describe an example of a contract that you or someone you know entered into (for example, rental agreement, cell phone agreement, property purchase or leaseï¿½car, home, furniture, etc.; home or car repair, student loan agreement). In your description, be sure to provide specific contractual details including parties and subject matter involved. You must also address the following:

Describe the five essential elements of an enforceable contract, and give an example of each element from the selected contract.

Explain whether or not the contract was fulfilled. If not, discuss at least one available breach remedy.

ADMS 2610 Chapter Notes -Undue Influence, Non Est Factum

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