TABL1710 Chapter Notes - Chapter 5: Caveat Emptor, Equitable Remedy, Dmg Media

130 views8 pages

Document Summary

Privity of contract: as a general rule, a person who is not a party to the contract (a third party) cannot be sur or be sued for breach of the contact. This is known as the doctrine of privity of contract. Unilateral mistake: one party makes a serious mistake about a fundamental aspect of the contract, the other party knows that they have made a mistake, and they seek to take advantage of that mistake unfairly. Common mistake: both parties are mistaken as to a fundamental aspect of the contract. Mutual mistake: the parties believe they have reached an agreement but in fact has been no meeting of minds. If one party compel the other party to enter into the contract by threatening negative consequences, they are said to have engaged in duress and the contract is voidable: the threat may be: To the personal safety of the other party or to that of their loved ones,

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents