TABL1710 Study Guide - Final Guide: Rescission, Standard Form Contract, Specific Performance

85 views6 pages

Document Summary

Mistake of fact: only mistakes of fact can render contract void, money paid under mistake of law may be recoverable e. g. david securities pty ltd v. If parties meet face-to-face, it is assumed that contract was concluded between parties because offer was accepted by person to whom it was directed onus of rebutting presumption. Importance of unilateral mistake third party cannot get good title to goods and original owner can recover them from whoever has possession. Misrepresentation: apparent consent of parties can be affected if subsequently found that one party had misrepresented facts to other. If misrepresentation is established in case, contract can be either declared void ab initio or disaffirmed for fraud. Innocent party may be able to rescind contract and/or recover damages. Innocent party must have suffered some loss: fraud must be distinctly pleaded and clearly proved not misrepresentation if other party believed their statements were true.