Contract and Tort Def Chapter #5

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Author:
CaptainSeb
ID:
264844
Filename:
Contract and Tort Def Chapter #5
Updated:
2014-03-03 09:36:20
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Chapter
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C & T Def Chapter #5
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Contract and Tort Def Chapter #5
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  1. common mistake
    both parties to a contract are mistaken and make the same mistake
  2. duress
    an unlawful threat or coercion used by one person to induce another to perform some act against his or her will
  3. fiduciary
    a relationship where one person is in a position of trust to another and has a duty to safeguard the other’s interests ahead of his or her own interests
  4. fraudulent misrepresentation
    1. a false statement that the maker knows is false, made to induce a party to enter into a contract 2. intentional fraud that causes another to enter into a contract
  5. innocent misrepresentation
    a false statement that the maker of the statement does not know is false, made to induce a party to enter into a contract
  6. material inducement
    a statement made before a contract is struck that influences a party to enter into the contract
  7. mutual mistake
    both parties to a contract are mistaken but each makes a different mistake
  8. non est factum
    (Latin) “I did not make this”; a defence used by one who appears to be a party to a contract but who did not intend to enter into this type of contract; in effect, the party is denying that he or she consented to this contract
  9. rescission
    the cancellation, nullification, or revocation of a contract; the “unmaking” of a contract
  10. restitution
    remedy by which one seeks to rescind a contract; if granted, restitution restores the party, as far as possible, to a pre-contract position
  11. uberrimae fidei contracts
    a class of contracts where full disclosure is required because one party must rely on the power and authority of another, who must behave with utmost good faith and not take advantage of the weaker party
  12. undue influence
    persuasion, pressure, or influence short of actual force that overpowers a weaker party’s judgment and free will and imposes the will of the stronger party
  13. unilateral mistake
    one party to a contract is mistaken about a fundamental element of the contract

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