MCS 3040 Chapter 8: Chapter 8 Non Enforcement of Contracts

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3040
• Professor: Joseph Radocchia

Document Summary

Misrepresentation or importance mistakes concerning the contract. Contract that, in certain circumstances, an aggrieved party can choose to keep in force or bring to an end. A contract involving a defect so substantial that it is of no force or effect. Age at which a person becomes an adult for legal purposes. Contracts made from the result of one party being threatened with physical harm are not enforceable. Threat of economic harm that coerces the will of the other party that results in a contract not enforceable. Dugaid and partner applied for a business loan, bmo would only approve if wife cosigned she did. Did ms. dugaid cosign the loan as a result of her husband"s. The undue undue influence? influence from her husband would release the wife from her loan obligation if the bank had known or should known about the undue influence. The bank knew the transaction to wifes disadvantage and loan was set aside.