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LAW 122 Chapter 9: Chapter 9 Notes

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salmonraccoon911

4 Apr 2011

School

Ryerson University

Department

Law and Business

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Professor

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Document Summary

not every statement communicated during the negotiation process is a contractual term. A statement becomes a contractual term only if it is included in the agreement as a legally enforceable obligation. The person who makes it voluntarily agrees to do something in the future. in contrast, a pre-contractual representation is a statement one party makes by words or conduct with the intention of inducing another party to enter into a contract. It may induce the creation of a contract, but it does not form part of the contract. the distinction b/t the contractual term and pre-contractual representation is especially important if a statement is false. the distinction is important b/c misrepresentation and breach of contract have different legal effects. pre-contractual representation may result in a form of legal liability, such as actionable misrepresentation, but not in an action for breach of contract.

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Related Questions

Which of the following would be an example of foreign direct investment from the United States to Taiwan?

a. A U.S. bank buys bonds issued by a Taiwan computer manufacturer.

b. A U.S. car manufacturer enters into a contract with a Taiwan firm for the latter

to make and sell it spark plugs.

c. Microsoft hires a Taiwanese computer programmer to debug some software for

d. The state of California rents space in Taipei for one of its employees to use

promoting tourism in California.

e. Warren Buffet (a U.S. citizen) buys a controlling share in a Taiwanese

electronics firm.

periwinkleferret554

Which of these statements about corporate bonds is correct?

A. Bonds provide equity financing.

B. Issuing new bonds dilutes the existing ownership in the firm.

C. Interest paid to bondholders represents a tax-deductible business expense.

D. Debenture bonds require assets pledged as collateral.

crimsonhippopotamus650

or over five years, Rick was the CEO of JB Guitars Inc, a corporation operating a chain of retail guitar stores. He had gained tremendous practical experience and decided to start his own business selling guitars. When he first started working at JB Guitars, Rick agreed not to carry on a competing business for two years after he ended his employment with the corporation. To avoid breaching that contract, Rick incorporated a corporation named Generation X Guitars Inc to carry on the business. He is the sole shareholder, director, and president. JB Guitars claims that the new corporation is just a way of getting around the non-competition agreement and has sued for a court order prohibiting Generation X Guitars from carrying a business competing with JB Guitars. Will JB Guitars be successful?