ITM 410 Final: LAW122Final Exam Review

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 410
• Professor: Vanessa Magness

Document Summary

Misrepresentation false statement of an existing fact that recipient to enter into a contract. A statement of an existing fact that is false when made, may be actionable if it induced a contract. Remedy general rule: contract will not be enforced. We treat the contract as though it never existed, parties are relieved of their obligations. Usually accompanied by restitution : a giving back and a taking back. Evidently, was not induced to enter the contract. Misrep, but still no undoing: the contract if you"ve affirmed the contract, third party rights involved. Capacity: legal power to give consent, voiding a contract means; avoid: escape the consequences of. Duress problems with circumstances around the creation of the contract: illegitimate threat of harm. Contract voidable at victims option: duress of person, threat of physical harm to party or loved one, duress of goods, threat to detain, damage or destroy goods, economic duress, threat of financial harm.