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Creado por miguelabascal
hace alrededor de 11 años
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A mistake in law
A mistake is usually about
Misunderstanding that destroys consensus results in
For consensus to be destroyed the one-sided mistake must be
Mistake must go to
Mistake must be
Careless party responsible when mistake is
Fundamental shared mistake about subject matter
Let the buyer beware – CAVEAT EMPTOR
When seller makes an obvious mistake selling something in 25 when it was 2500
mistake is not an
Failure to read the document before signing, can defeat the defence of
The defence of non-est factum (“it is not my act”) is not available for
Express terms are
Implied terms are
There are two main approaches used for interpreting terms:
Reasonable person test applies when there is
Courts apply literal meaning to
Ambiguous wording interpreted
The parol evidence rule
A misrepresentation is
Misrepresentation is a
A misrepresentation is made during
An opinion is not usually a misrepresentation, unless
When an expert in the area covered by the contract gives an opinion and the other party relies on that opinion, the opinion is considered a
A misrepresentation can occur through omission if
contracts of utmost good faith
The two main types of contracts of utmost good faith are
An innocent misrepresentation is
A fraudulent misrepresentation is
A negligent misrepresentation or misstatement occurs
Misrepresentation must be
Silence or non-disclosure is not
Partial disclosure may be
A victim of misrepresentation must show that
. For innocent misrepresentation, the only remedy available is
Rescission amounts to
Rescission not available in certain circumstances:
Rescission and/or damages for torts for
Failure to correct an innocent misrepresentation without delay turns into
Damages for negligence may be available in cases of
Duress occurs when
Duress involves threats of violence or imprisionment – Contract is
With undue influence, the victim feels
The court may find undue influence in the following situations:
Where an unfair contract has been entered into and there was an inequality of bargaining power between the parties, the courts may set the contract aside as
only the parties to the contract can sue under the contract; third parties cannot sue on the contract. This is the principle behind
Insurance policies are an exception to the rule of
Some of the most common exceptions are
Novation occurs when
A trust is
Land law is not covered by the concept of
An assignment is a
The parties who transfer their rights are
the third parties to whom rights are transferred are
The scope of the rights acquired by the assignee against the promisor cannot be any broader than
To qualify as a statutory assignment, all of the following requirements must be met:
Often, contractual obligations are performed by someone else, but this is not an assignment. In vicarious performance, the first party’s obligations to the second party are performed by
Negotiable instruments are another exception to the general rules regarding
When a contract is discharged, it has come to an end. There are five ways a contract can be discharged:
Discharge by performance occurs when
Tender of performance is
Contracts usually consist of major terms (called conditions) and minor terms
Where warranty breached, contract is
Contract discharged when contract substantially performed Example
Tender of performance ends
When a party has substantially fulfilled the requirements of a contract
Discharge by agreement occurs when
The parties may replace one of the parties to the contract with a new party and discharge the former party from its obligations under the contract. This is called
Accord and satisfaction occurs where
Accord refers to the agreement to
A condition precedent or “subject to” clause is
. If a condition precedent is not satisfied, there is
A condition subsequent occurs where
Conditions precedent determine when obligations to perform contract
Conditions subsequent determine when contractual obligations
Sometimes the contract anticipates some catastrophic event, such as a riot, invasion, earthquake, or flood that will interfere with the performance of the contract. This is referred to as a
A frustrating event is an
The frustrating event must take place after the making of the contract and
. A self-induced frustration is
In a few situations, a contract may be discharged by
If a frustrating event occurs, the Frustrated Contracts Act in most provinces allows for
Breach of contract occurs when
A breach of a condition is a
A warranty is a
An exemption clause is a
When a breach of condition in a contract has been accepted by the other party, it is
For an exemption clause to be effective, the promisor must
Repudiation occurs when
An anticipatory breach occurs where
Rescission
Rectification
Damages
Damages are awarded for
Parties who have suffered a loss as a result of another party’s breach of contract are under a
Damages are not generally awarded to compensate an injured party for some unusual or unexpected consequence of a breach, as such consequences would be considered
Parties may also predetermine what damages will need to be paid if there is a breach; these are called
Liquidated damages may be prepaid in the form of a
Where an award of damages is not sufficient for a breach of contract, the court may award an equitable remedy, such as
When the equitable remedy of an injunction is ordered, it is
Courts may order breaching conduct to stop
But not
Interlocutory injunction is
Quantum meruit when