Management and Organizational Studies 2275A/B Chapter Notes - Chapter 8: Caveat Emptor, Equitable Remedy, Clean Hands

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

* you can only sue if it was a breach of contract. When it is communicated: when it"s put in the mailbox. When it is communicated accepted someone who has given you a gift. 12 and 13 are both examples of promisory estoppel. Mistake one or both parties made mistakes no consensus: one party makes mistake (unilateral mistake) General rule: (99 percent there is no remedy) General rule is that there is no remedy because you are responsible to check into it yourself. Exception: types of misrepresentation (false statement of: fraudulent lie they lied to you they know it was a lie. They told me something that wasn"t true, because they didn"t know about the information. They didn"t look hard enough/thorough enough regarding that information: no third party, negligent they were negligent in giving me that. Remedy: rescission, tort of negligence: innocent the person did everything that they could. They did everything that a reasonable salesperson would have done.