G3: Contract Law (Section II)

Violations of a material warranty warrants for the contract to rescind.

Express Warranty

Implied Warranty

(memorize)
Representation=Implied Warranties
Representation=Written/Oral
Implied Warranties=Written/Oral

(memorize)
Information that does not need to be communicated in a contract.

Matters of Opinion CIC 339

Warranty

Material

(memorize!)
Materiality of concealment is the rule used to determine the importance of a representation (misrepresentation)

Fraud

Rescission

When insurer can Rescind

Representation

Promise

(Memorize!)
Representation can be altered/withdrawn BEFORE the execution of the contract but not AFTERWARDS

Misrepresentation

Concealment

(Memorize!)
Representation is FALSE when it FAILS TO CORRESPOND with its ASSERTIONS AND STIPULATIONS.