LAW 122 Chapter Notes - Chapter 9: Uberrima Fides, Standard Form Contract, Rescission
9 Jan 2014
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Distinguish misrepresentations from other false statement made during contractual negotiations. If a non-contractual statement is false, the parties have made a misrepresentation - a false statement of an existing fact that causes a recipient to enter into a contract. When a contractual statement is not fulfilled, one of the parties is in breach of contract. Distinction is impt. b/c misreps and breach of contract have diff. legal effects. Nature of misreps - false statement of fact, causes recipient to enter into contract, incorrect statement of existing fact, unlike contractual term which provides promise of future performance. Who had better access to the info: not every misstatement during pre-contractual negotiations is a misrep. If an opinion is shared in a way that it makes someone thinks it must be true than it"s a misrep offering an opinion within your area of expertise.
