Business Law
30th May Thursday 11-12 (replacement)
1b) Negligence misrep – For this, the common law negligent misrep is followed- i.e. that is duty of care, “special relationship” , breach of standard of care, causation, and remoteness.
1c) Duress is pressure exerted by one person to coerce (influence someone to do smth) another to contract on particular terms. The main types are duress of the person “actual or threatened violence or unlawful imprisonment”, duress of goods “wrongful detaining, damaging or destruction of goods or threatening the same”, and economic duress “using economic power to exert pressure”.
Remedies – The contract is voidable by the party coerced and damages may be available under the tort of intimidation. It is not provided for under the Contract’s Act 1950.
- Coercion : Section 15 of the Contract’s Act 1950
- Undue Influence : Section 16 of the Contract’s Act 1950
- Mistake : Section 21 of the Contract’s Act 1950
1d) Rescission – party are restored to the position they occupied before the contract was entered into. The right to recint is lost where: - The representee affirms the contract
- It is impossible to return the parties to their pre-contract position
- An innocent party has acquired an interest in the subject matter of the contract before it has been recinded
- In cases of innocent misrep, if the contract have been executed – (The Rule in Seddon’s case)- but this rule has been abrogated(deleted) by statute in the context of “consumer” sales of goods.
4) This question is used to tie in the following issues:
- Was the statement a term of the contract?
- PER (Parole Evidence Rule) – It is a written contract with no reference to the promise about the creak.
- Exceptions to the PER – Particularly whether the contract was partly oral “the promise” and partly written.
- Collateral Contract – Was the promise about the creak a separate collateral contract?
- Misrepresentation – What type? Fraudulent, innocent or negligent
1b) Negligence misrep – For this, the common law negligent misrep is followed- i.e. that is duty of care, “special relationship” , breach of standard of care, causation, and remoteness.
1c) Duress is pressure exerted by one person to coerce (influence someone to do smth) another to contract on particular terms. The main types are duress of the person “actual or threatened violence or unlawful imprisonment”, duress of goods “wrongful detaining, damaging or destruction of goods or threatening the same”, and economic duress “using economic power to exert pressure”.
Remedies – The contract is voidable by the party coerced and damages may be available under the tort of intimidation. It is not provided for under the Contract’s Act 1950.
- Coercion : Section 15 of the Contract’s Act 1950
- Undue Influence : Section 16 of the Contract’s Act 1950
- Mistake : Section 21 of the Contract’s Act 1950
1d) Rescission – party are restored to the position they occupied before the contract was entered into. The right to recint is lost where: - The representee affirms the contract
- It is impossible to return the parties to their pre-contract position
- An innocent party has acquired an interest in the subject matter of the contract before it has been recinded
- In cases of innocent misrep, if the contract have been executed – (The Rule in Seddon’s case)- but this rule has been abrogated(deleted) by statute in the context of “consumer” sales of goods.
4) This question is used to tie in the following issues:
- Was the statement a term of the contract?
- PER (Parole Evidence Rule) – It is a written contract with no reference to the promise about the creak.
- Exceptions to the PER – Particularly whether the contract was partly oral “the promise” and partly written.
- Collateral Contract – Was the promise about the creak a separate collateral contract?
- Misrepresentation – What type? Fraudulent, innocent or negligent