MGT223H5 Study Guide - Final Guide: Consumer Protection, Undue Influence, Oral Contract
Document Summary
Voidable means had a contract that can be set aside. If a contract violates breaches law can be struck down. Mistake: if both parties are mistaken, then they never had a contract, entering into a contract for something that doesn"t exist anymore, scenario. In 1960"s volvo and mercedes benz were sold in gta. Someone wanted a mercedes, went to gas station. Car comes from germany with cloth seats and no white walls. There was a mutual mistake between dealer and buyer. Mistake made while converting a contract from oral to writing. I have a real estate ms wants to buy. On jan 1 we do oral contract of selling the estate. We hire a lawyer to put it in writing. He puts closing date june 3 instead on june 30. Real estate prices go up by 12% i am sad. Ms goes to the judge to change the contract to make it june 30.