The document discusses five doctrines that allow parties to avoid contracts due to lack of real consent: misrepresentation, fraud, mistake, duress, and undue influence. It provides elements for each doctrine and analyzes cases that apply the doctrines. For example, it discusses that a contract signed under duress or undue influence is voidable, not simply void. It also notes that mutual mistakes can be remedied by contract reformation.
This chapter discusses the rights of third parties in contracts. It covers the concepts of assignment, where a right under a contract is transferred, and delegation, where a duty is appointed to another person. There are limitations on assignment and delegation if they violate public policy or a contract clause. The chapter also discusses third party beneficiaries, who can enforce a contract if they were intended to benefit from it, versus incidental beneficiaries who were unintended. It provides examples and case summaries to illustrate these concepts.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
The document summarizes key concepts around offers in contract law:
1) An offer requires intent to enter a binding agreement, definite terms, and communication to the offeree.
2) Advertisements are generally invitations to negotiate rather than offers, but rewards are treated as unilateral contract offers that can be accepted with performance.
3) Offers can be terminated by revocation before acceptance, rejection, lapse of time, or subsequent illegality under common law, though the UCC provides more flexibility.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
This document summarizes the concept of capacity to contract. [1] It discusses how minors, those with mental disabilities, and intoxicated persons may lack capacity. [2] It explains that those without capacity can disaffirm or avoid contracts, but may also later ratify them. [3] The duties upon disaffirmance, such as returning consideration, are also outlined.
1) Contractual capacity refers to the legal ability to enter into a contract. Minors generally have the right to disaffirm contracts, but there are exceptions such as for necessaries.
2) For a contract to be valid, it cannot require illegal, tortious, or against public policy acts. Examples of illegal contracts include those related to usury, gambling, or discrimination.
3) Unconscionable contracts or clauses, as well as contracts in unreasonable restraint of trade can be considered void as against public policy. There are some exceptions such as covenants not to compete in sale of a business.
This document provides an overview of key concepts related to offer, acceptance, and mutual assent in contract law. It defines mutual assent as both parties knowing the contract terms and agreeing to be bound by them. An offer is a proposal indicating a willingness to enter a contract and must demonstrate serious intent, clear terms, and be communicated to the offeree. Acceptance occurs when the offeree agrees to the offeror's terms. Defects like fraud, misrepresentation, mistake, duress or undue influence can undermine mutual assent.
This document provides an overview of key concepts regarding written contracts, including:
1. It outlines 10 learning objectives related to the Statute of Frauds, contracts that must be in writing, contents of required writings, and legal rules for written contracts.
2. It describes the Statute of Frauds as the law requiring certain contracts to be in writing, and lists the types of contracts that must be in writing, such as contracts that cannot be completed within one year.
3. It explains legal rules for written contracts, including the standard construction rule for interpreting contracts, the parol evidence rule regarding oral statements made before signing, and exceptions to the parol evidence rule.
This document discusses contractual capacity and the capacity of minors to enter into contracts. It defines key concepts like capacity, disaffirmation, and emancipation. It provides examples of types of contracts that minors can void, like executory contracts, and contracts they are liable for, like necessaries. The document also discusses other capacity issues like mental impairment, intoxication, and ratification. It examines cases related to minors' contracts and restrictions on agreements that are considered unlawful.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Law and ethics 4 contractual capacity, consideration and contents
The document discusses contractual capacity and consideration. It states that for a contract to be valid, the parties must have capacity and there must be consideration. It outlines categories of people who may lack capacity, such as minors, persons of unsound mind, drunkards, and some companies. It also defines what constitutes consideration and notes it must be sufficient, not past, and not something a party is already obligated to do. The document concludes by discussing the various terms that can be included in a contract, including express terms, implied terms from custom, legislation, or courts.
This document provides an overview of the law of misrepresentation in contracts. It defines misrepresentation as a false statement of fact that induces a party to enter a contract. There are three types of misrepresentation: fraudulent, negligent, and innocent. For fraudulent misrepresentation, the innocent party can rescind the contract and claim damages. For negligent misrepresentation, rescission and damages are also available if there was a special relationship. For innocent misrepresentation, the court decides on remedies. The document discusses key cases like Hedley Byrne v Heller that established rules around duties of care for negligent misrepresentation. It provides examples and explains available remedies under the Misrepresentation Act 1967.
The document discusses performance and remedies for breach of contract. It covers key topics such as:
1) Strict performance requires full compliance with contract terms, while substantial performance allows for minor deviations.
2) Failure to perform obligations is a breach of contract, giving the non-breaching party rights to damages. Material breaches allow further legal remedies.
3) Anticipatory repudiation occurs when a party indicates unwillingness to perform before the time for performance. The non-repudiating party can withhold performance and sue for damages.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
The document provides an introduction to contract law, covering the nature and purpose of contracts, the elements of a valid contract, and the sources of governing contract law. It discusses bilateral and unilateral contracts, valid versus voidable versus void contracts, and the applicability of common law versus the Uniform Commercial Code. The document also addresses non-contract obligations such as quasi-contract theory and promissory estoppel.
This chapter discusses the rights of third parties in contracts. It covers the concepts of assignment, where a right under a contract is transferred, and delegation, where a duty is appointed to another person. There are limitations on assignment and delegation if they violate public policy or a contract clause. The chapter also discusses third party beneficiaries, who can enforce a contract if they were intended to benefit from it, versus incidental beneficiaries who were unintended. It provides examples and case summaries to illustrate these concepts.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
The document summarizes key concepts around offers in contract law:
1) An offer requires intent to enter a binding agreement, definite terms, and communication to the offeree.
2) Advertisements are generally invitations to negotiate rather than offers, but rewards are treated as unilateral contract offers that can be accepted with performance.
3) Offers can be terminated by revocation before acceptance, rejection, lapse of time, or subsequent illegality under common law, though the UCC provides more flexibility.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
This document summarizes the concept of capacity to contract. [1] It discusses how minors, those with mental disabilities, and intoxicated persons may lack capacity. [2] It explains that those without capacity can disaffirm or avoid contracts, but may also later ratify them. [3] The duties upon disaffirmance, such as returning consideration, are also outlined.
1) Contractual capacity refers to the legal ability to enter into a contract. Minors generally have the right to disaffirm contracts, but there are exceptions such as for necessaries.
2) For a contract to be valid, it cannot require illegal, tortious, or against public policy acts. Examples of illegal contracts include those related to usury, gambling, or discrimination.
3) Unconscionable contracts or clauses, as well as contracts in unreasonable restraint of trade can be considered void as against public policy. There are some exceptions such as covenants not to compete in sale of a business.
BUS 115 Chap008 offer acceptance mutual assentneogenesis6
This document provides an overview of key concepts related to offer, acceptance, and mutual assent in contract law. It defines mutual assent as both parties knowing the contract terms and agreeing to be bound by them. An offer is a proposal indicating a willingness to enter a contract and must demonstrate serious intent, clear terms, and be communicated to the offeree. Acceptance occurs when the offeree agrees to the offeror's terms. Defects like fraud, misrepresentation, mistake, duress or undue influence can undermine mutual assent.
This document provides an overview of key concepts regarding written contracts, including:
1. It outlines 10 learning objectives related to the Statute of Frauds, contracts that must be in writing, contents of required writings, and legal rules for written contracts.
2. It describes the Statute of Frauds as the law requiring certain contracts to be in writing, and lists the types of contracts that must be in writing, such as contracts that cannot be completed within one year.
3. It explains legal rules for written contracts, including the standard construction rule for interpreting contracts, the parol evidence rule regarding oral statements made before signing, and exceptions to the parol evidence rule.
This document discusses contractual capacity and the capacity of minors to enter into contracts. It defines key concepts like capacity, disaffirmation, and emancipation. It provides examples of types of contracts that minors can void, like executory contracts, and contracts they are liable for, like necessaries. The document also discusses other capacity issues like mental impairment, intoxication, and ratification. It examines cases related to minors' contracts and restrictions on agreements that are considered unlawful.
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Law and ethics 4 contractual capacity, consideration and contents msstephanielord
The document discusses contractual capacity and consideration. It states that for a contract to be valid, the parties must have capacity and there must be consideration. It outlines categories of people who may lack capacity, such as minors, persons of unsound mind, drunkards, and some companies. It also defines what constitutes consideration and notes it must be sufficient, not past, and not something a party is already obligated to do. The document concludes by discussing the various terms that can be included in a contract, including express terms, implied terms from custom, legislation, or courts.
This document provides an overview of the law of misrepresentation in contracts. It defines misrepresentation as a false statement of fact that induces a party to enter a contract. There are three types of misrepresentation: fraudulent, negligent, and innocent. For fraudulent misrepresentation, the innocent party can rescind the contract and claim damages. For negligent misrepresentation, rescission and damages are also available if there was a special relationship. For innocent misrepresentation, the court decides on remedies. The document discusses key cases like Hedley Byrne v Heller that established rules around duties of care for negligent misrepresentation. It provides examples and explains available remedies under the Misrepresentation Act 1967.
This document provides an introduction to contract law. It defines a contract as an agreement giving rise to legal obligations. The essential elements of a contract are identified as offer, acceptance, consideration, capacity, intention to create legal relations, and terms. Contracts are classified based on parameters such as whether they are bilateral, unilateral, void, voidable, or valid. Methods of discharging obligations under a contract include performance, agreement, breach, frustration, and discharge. Vitiating factors that can invalidate a contract such as mistake, misrepresentation, duress, illegality, unconscionability, and undue influence are also outlined.
A contractual term is “Any provision forming part of a contract”.
Each term gives rise to a contractual obligation, breach of which can give rise to litigation.
Not all terms are stated expressly and some terms carry less legal gravity as they are peripheral to the objectives of the contract.
In general, parties can only sue for enforcement of valid contractual terms as opposed to representations or mere puffs.
An exemption clause is an agreement in a contract that stipulates that a party is limited or excluded from liability.
There are three types of clauses, these are a ‘limitation clause’; this is where a party is limited from liability.
The other is an ‘exclusion clause’; this is where a party is excluded from liability.
‘Time limitation clause’ states that an action for a claim must be commenced within a certain period of time or the cause of action becomes extinguished.
The document discusses environmental regulation and laws in the United States. It provides an overview of the Environmental Protection Agency (EPA) and the goals of major federal environmental laws, including the Clean Air Act, Clean Water Act, and hazardous waste laws. It also discusses key concepts like pollution, different sources of environmental law, and how states and tribes can enact their own regulations. Global climate change is mentioned as an issue that may impact businesses in the future.
D'Agostino v Federal Ins Co , 969 F. Supp. 2d 116 (D. Mass. 2013)Richard Goren
1) The parties engaged in settlement negotiations but did not reach an enforceable agreement because while D'Agostino offered $1.15 million for a release, Federal responded with a release containing additional material terms like confidentiality requirements, which were not accepted.
2) The court denied Federal's motions to enforce the alleged settlement agreement and for protective orders, finding no agreement was formed.
3) The court also denied requests for sanctions from both parties, finding neither party's actions warranted sanctions.
Chapter 28 – Introduction to Credit and Secured TransactionsUAF_BA330
This document provides an overview of secured and unsecured credit transactions. It defines secured credit as transactions where the creditor requires the debtor to convey a lien or security interest on their property to minimize the creditor's risk of loss. It differentiates suretyship from guaranty as security devices. It also describes various types of liens that can be placed on real and personal property to secure credit obligations.
Chapter 19 – Formation of Terms of Sales ContractsUAF_BA330
The document provides an overview of formation and terms of sales contracts under the Uniform Commercial Code (UCC). It discusses key definitions and concepts related to sales contracts such as terms, title, risk of loss, and shipping terms. It also provides examples of cases related to sales contracts and tests readers' knowledge of concepts through multiple choice questions.
Chapter 34 – Checks and Electronic TransfersUAF_BA330
This document provides an overview of checks and electronic funds transfers. It discusses the relationship between depositors and banks, the bank's duties regarding payment and collection of checks, stop-payment orders, certified checks, cashier's checks, and issues related to forged, altered and stale checks. It also covers laws governing electronic funds transfers, check collection, funds availability, and wire transfers. Key points covered include a bank's liability for wrongful dishonor of checks and its right to charge properly payable checks, as well as obligations of both banks and customers regarding timely reporting of unauthorized transactions or errors.
Chapter 21 – Performance of Sales ContractsUAF_BA330
The document summarizes key concepts related to performance of sales contracts under the Uniform Commercial Code (UCC). It discusses general rules like good faith, course of dealing, and trade usage. It also covers obligations of buyers and sellers regarding delivery, inspection, payment, acceptance, revocation, rejection, and assurance. Specific cases are referenced to illustrate concepts like revocation of acceptance, demand for assurances, and excuse of performance. Test questions assess understanding of delivery location, inspection expenses, and grounds for demanding assurances.
Chapter 37 – Introduction to Forms of Business and Formation of PartnershipsUAF_BA330
The document provides an overview of different forms of business including sole proprietorships, partnerships, corporations, and limited liability companies. It discusses key characteristics of each form and how choosing an appropriate form depends on an owner's goals for control and liability. The document also covers topics related to partnerships specifically, including how partnerships are created, the concept of purported partners, and issues regarding partnership property ownership.
The document discusses negotiable instruments and commercial paper. It provides an overview of negotiable instruments, including different types like promissory notes, checks, and certificates of deposit. It also covers key concepts like negotiability, holders in due course, and the Uniform Commercial Code articles that govern commercial paper. Examples are provided of cases involving ambiguous terms in negotiable instruments.
The document discusses different types of bankruptcy proceedings including Chapter 7 liquidations, Chapter 11 reorganizations, and Chapters 12 and 13 for family farms and consumer debt adjustments. It explains the process for filing bankruptcy, the automatic stay of creditor actions, how claims are handled, trustee duties in distributing assets and developing reorganization plans, and issues around discharge of debts and dismissal for abuse. Key cases discussed include In re Rogers regarding homestead exemptions and In re Made In Detroit regarding plan feasibility for confirmation.
The document outlines different types and classifications of law including constitutions, statutes, common law, equity, administrative regulations, treaties, ordinances, and executive orders. It discusses jurisprudential philosophies like legal positivism and natural law. It also covers legal reasoning techniques, precedent, and statutory interpretation.
Chapter 38 – Operation of Partnerships and Related FormsUAF_BA330
This document discusses partnership duties and liability. It covers key duties partners owe each other including loyalty and good faith. Partners generally cannot compete with the partnership without consent. The document also discusses liability of partners for torts and contracts committed by other partners, as well as how limited liability partnerships can reduce some personal liability for partners.
This chapter discusses the liability of parties involved in negotiable instruments. It explains the differences between primary and secondary liability and outlines warranties made during the transfer and presentment of negotiable instruments. The chapter also discusses exceptions to normal liability rules, discharge of liability, and key court cases related to liability for negotiable instruments.
This document provides an overview of limited liability companies (LLCs), limited partnerships, and limited liability limited partnerships. It discusses the key attributes of each type of business entity including formation, management, taxation, liability of members/partners, duties, dissociation, dissolution and more. The document contains learning objectives, definitions, comparisons of the different entity types, and sample test questions to assess understanding.
This document provides an overview of product liability law, including theories of liability such as express and implied warranties, negligence, and strict liability. It discusses key concepts like merchantability and fitness for a particular purpose under warranties. Case examples demonstrate how courts analyze issues like design defects, failure to warn, and damages in product liability claims. The goal of product liability law is to appropriately allocate responsibility and costs for injuries from defective products between manufacturers and consumers.
Chapter 32 – Negotiation and Holder in Due CourseUAF_BA330
This document provides a 3-page summary of key concepts related to negotiation and holders in due course of negotiable instruments. It begins by explaining the process of transferring negotiable instruments from one person to another, distinguishing between order paper and bearer paper. It then discusses the requirements for negotiation, types of endorsements, and effects of endorsement. The summary concludes by outlining the requirements to achieve holder in due course status and the rights and limitations of a holder in due course.
Chapter 4 - Business Ethics, Corporate Social Responsibility, Corporate Gover...UAF_BA330
This document provides an overview of key concepts in business ethics including ethical theories, corporate social responsibility, corporate governance, and critical thinking. It discusses utilitarianism, rights theory, justice theory, and other ethical frameworks. It also covers guidelines for ethical decision making, identifies logical fallacies, and provides test questions to assess understanding.
Detailed Presentation on Fraud in Contract
Made By:
Edited By: Ayush Patria, Sangam University, Bhilwara
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Website: www.lawlaboratory.com
The document provides an overview of contract law under the Indian Contract Act of 1872. It defines a contract and outlines the essential elements of a valid contract such as offer, acceptance, lawful consideration, lawful object, free consent, and competent parties. It also discusses different types of contracts such as contingent contracts, contracts of indemnity, guarantee, bailment, pledge, and agency. Key aspects like formation, performance, discharge and remedies for breach of contracts are summarized.
BUS 115 Chap009 consideration and cyberpaymentsneogenesis6
This document discusses consideration in contracts and cyberpayments. It defines consideration as a bargained-for exchange between parties where each party provides benefits and suffers detriments. Consideration must involve a legal detriment like doing something one is not required to do or refraining from something one can legally do. The document also discusses issues like adequacy of consideration, bargained exchanges, and exceptions to consideration like promissory estoppel. It analyzes cyberpayment options and security issues in light of EU privacy directives.
The document discusses key elements of a contract, including offers, acceptance, consent, and validity. It provides definitions and examples of:
- What constitutes a valid offer and how offers can be terminated
- The requirements for valid acceptance of an offer
- Factors that can invalidate consent such as coercion, undue influence, fraud, and misrepresentation
- Specific definitions and illustrations of coercion, undue influence, and fraud
The document examines these various components of a contract in detail with applicable laws and examples to comprehensively cover the essential elements and requirements for forming a valid contract.
This document discusses legal capacity and consent to enter into contracts. It covers topics such as capacity for minors and mentally impaired persons, disaffirming contracts for minors, remedies for misrepresentation or fraud, mistakes in contracts, and situations where undue influence or duress may make a contract voidable. Key exceptions are noted, such as minors being responsible for payment of necessities and not being able to disaffirm contracts they fully executed.
This document discusses the concepts of misrepresentation and fraud in contracts. It begins by defining representation and the difference between representations of fact versus promises. It then examines key elements of misrepresentation, including that a misrepresentation must be a false statement of existing fact, addressed to and relied upon by the misled party. The document outlines defenses to misrepresentation claims and notes the psychological element that distinguishes fraud (the intent to deceive). Specific types of fraudulent statements and active concealment of facts are described. The document concludes by noting that while misrepresentation involves unintentionally misleading statements, fraud requires an intent to deceive the other party.
T1, 2021 business law lecture 4 - contracts 3markmagner
The document discusses key concepts in contract formation including consent, legality, mistake, misrepresentation, duress and unconscionable conduct. It explains that for a contract to be valid, there must be genuine consent between the parties without mistakes, misrepresentations, duress or other vitiating factors. It also discusses implied terms, integration of collateral contracts, and consequences of signing documents such as exclusion clauses. Legality of contract purpose and restraint of trade provisions are also addressed.
This document discusses consideration and the essential elements required for a valid contract. It defines consideration as the price for which a promise is made. An example is provided of a sale agreement where the factory price is the consideration. Essential elements of consideration include it being real, moving at the desire of the promisor, and not being something the promisor is already bound to do. The document outlines different types of consideration like present, past, and future consideration. It also discusses capacity of parties, void agreements, and factors like coercion, undue influence, fraud, and misrepresentation that can invalidate an agreement due to lack of free consent.
T1, 2021 business law lecture week 6 - law of torts - negligence 2markmagner
The document discusses the legal concept of vicarious liability and negligent misstatements.
[1] Vicarious liability holds an employer liable for acts or omissions of their employees that were committed in the course of employment. There are two tests for determining an employer-employee relationship - the control test and integration test. Several cases are discussed that demonstrate when an employer will be held vicariously liable.
[2] Negligent misstatements occur when a party provides advice, information or an opinion to another party who reasonably relies on it, but the advice was given carelessly. The document outlines the tests for establishing a duty of care in cases of negligent misstatement and discusses several cases where parties were found liable for negligent
The document defines key terms related to contracts under Indian law such as proposal, acceptance, consideration and consent. It outlines the essential elements of a valid contract including offer and acceptance, intention to create a legal relationship, lawful consideration, capacity and consent of parties. It also discusses circumstances that can invalidate consent such as coercion, undue influence, misrepresentation and fraud.
The document defines key terms related to contracts under Indian law such as proposal, acceptance, consideration and consent. It outlines the essential elements of a valid contract including offer and acceptance, intention to create a legal relationship, lawful consideration, capacity and consent of parties. It also discusses circumstances that can invalidate consent such as coercion, undue influence, misrepresentation and fraud.
Vitiating Elements in Formation of Contract: Duress and Undue InfluencePreeti Sikder
This document discusses various vitiating elements in contract formation under Bangladeshi law. It begins by defining duress, economic duress, and instances of these concepts in Bangladeshi law. It then examines the concepts of consent, coercion, and free consent as defined in Sections 13-15 of Bangladeshi contract law. Sections 16-19 discuss undue influence and voidability of agreements without free consent. The document also discusses void agreements such as those without consideration or in restraint of marriage/trade. It concludes by examining breach of contract and compensation under Section 73 of Bangladeshi law.
This document discusses free consent in contracts. It defines free consent as consent that is not caused by coercion, undue influence, misrepresentation, or mistake. It outlines situations that invalidate consent, including coercion (using unlawful threats), undue influence (exploiting a power imbalance), fraud (intentional misrepresentation), and mistake. For each situation, it provides definitions, essential elements, examples, and the legal effect of invalidating consent. It also discusses differences between coercion and undue influence, as well as fraud and innocent misrepresentation. Overall, the document comprehensively covers the key aspects of free and valid consent as it relates to forming enforceable contracts under Indian law.
This document discusses the concept of free consent in contracts. It defines coercion and undue influence as flaws in consent that can make a contract voidable. Coercion involves threatening unlawful acts, while undue influence involves exploiting a power imbalance in a relationship. Misrepresentation and fraud can also vitiate consent if they involve intentional false statements. Mistakes can include mistakes of fact by one or both parties, or mistakes of law. Overall, the document examines the key conditions required for consent to be free for a valid contract.
The document discusses the essential characteristics and requirements of a valid contract. It begins by defining a contract and outlining the 7 essential elements: 1) agreement must be lawful, 2) parties must have contractual capacity, 3) parties must intend to contract, 4) parties must communicate their intentions, 5) agreement cannot be vague, 6) parties must agree on the subject matter, and 7) performance must be possible. It then examines each of these elements in more detail with examples. The document also discusses the differences between void and voidable contracts.
The document discusses the capacity of parties to enter into a contract under Indian law. It outlines who is competent to contract based on their age and mental state. Minors and those of unsound mind are not considered competent. It also discusses various circumstances that can affect the validity of an agreement such as coercion, undue influence, fraud, misrepresentation, mistake, and considerations that are unlawful or against public policy.
The document summarizes key aspects of consent, free consent, and void agreements under the Indian Contract Act of 1872. It discusses concepts such as coercion, undue influence, misrepresentation, mistake, consideration, and expressly declared void agreements related to restraint of marriage, trade, legal proceedings, uncertainty, wagering, and impossible acts/events. Key highlights include definitions of consent requiring identical understanding, examples of void agreements, and classifications of different types of mistakes and void agreements.
1) Consideration is something of value that is exchanged between parties to an agreement. It is required for a contract to be valid. Consideration can be past, present or future as long as it is real and lawful.
2) For consideration to be valid, it must induce the promisor to make a promise and cannot be something the promisor is already legally obligated to do. Consideration does not need to be financially adequate.
3) Exceptions to the requirement of consideration include natural love and affection between family as well as agreements to pay for past voluntary services rendered.
CONTRACT- UNDUE INFLUENCE AND MISREPRESENTATION.pptxNishi668568
This document discusses the topics of free consent, undue influence, and misrepresentation as they relate to contract law in India. It defines these concepts and provides examples from case law. Specifically:
- Undue influence involves exploiting a position of power over another to obtain unfair consent, such as between a spiritual advisor and follower. The burden is on the party in the dominant position to prove consent was freely given.
- Misrepresentation includes making untrue statements, failing to disclose important facts, or inducing mistakes about the subject matter. Representations must be of fact, not just opinion, and material to the contract.
- Presumptions of undue influence may exist in unconscionable bargains or with pard
The document provides an overview of key US employment laws. It discusses legislation protecting worker safety, health and well-being such as Workers' Compensation and OSHA. It also covers laws regulating wages and hours like the Fair Labor Standards Act, and those ensuring financial protections such as Social Security, unemployment compensation and ERISA. Finally, it addresses equal opportunity legislation including the Equal Pay Act, Title VII of the Civil Rights Act, and the role of the EEOC in enforcing anti-discrimination statutes.
Chapter 48 – The Federal Trade Commission Act and Consumer Protection LawsUAF_BA330
The document summarizes consumer protection laws enforced by the Federal Trade Commission (FTC). It describes the FTC's powers to create rules, conduct investigations of unfair/deceptive practices, and hold adjudicative proceedings. It also explains key laws like prohibiting deception/unfairness, regulating telemarketing, and requiring clear warranties. The FTC works to promote fair competition and protect consumers from unscrupulous businesses.
This document provides an overview of corporate governance and management. It discusses key topics such as:
1) The roles and responsibilities of shareholders, boards of directors, officers, and committees in managing corporations.
2) Legal doctrines governing corporate objectives and powers like ultra vires.
3) Fiduciary duties of directors and officers, and standards of review like the business judgment rule.
4) Issues related to mergers, acquisitions, conflicts of interest, and shareholder oppression.
Chapter 42 – Organization and Financial Structure of CorporationsUAF_BA330
The document discusses the legal process and requirements for incorporating a business, including preparing articles of incorporation, filing with the secretary of state, holding an organizational meeting, and various financing options through the sale of equity and debt securities. It also examines the duties of promoters and potential issues that can arise from defective incorporation.
Chapter 41 – History and Nature of CorporationsUAF_BA330
The document discusses the history and nature of corporations, including how corporations evolved from special charters granted by states to modern enabling statutes, and covers key topics such as classes of corporations, state and federal regulation of corporations, what constitutes "doing business" in a state, and piercing the corporate veil. It also provides examples, definitions, and a short quiz.
Chapter 39 – Partners’ Dissociation and Partnerships’ Dissolution and Winding UpUAF_BA330
This chapter discusses partnership dissolution, winding up, and changes in partnership structure. It defines dissociation as a partner leaving the partnership and outlines wrongful vs. nonwrongful dissociation. Dissolution begins the winding up process of selling assets and distributing proceeds. The document discusses partnership termination, continuing the business after dissociation, and buying out dissociated partners' shares. It also covers adding new partners and the case Warnick v. Warnick regarding dissociation and buyout remedies.
Chapter 36 – Third-Party Relations of the Principal and the AgentUAF_BA330
This document discusses the legal principles governing the relationships between principals, agents, and third parties in both contract and tort law. It covers topics such as an agent's authority to bind a principal to contracts, a principal's liability for an agent's torts under respondeat superior or for misrepresentations, and exceptions where agents may be liable instead of or in addition to principals. It provides examples to illustrate these concepts and tests readers' understanding with multiple choice questions.
This document provides an overview of agency relationships, including how they are created and terminated. It discusses the duties of agents to principals, such as the fiduciary duty of loyalty and maintaining confidentiality. It also covers types of authority agents may have, the difference between employees and independent contractors, and cases that illustrate key agency principles like the duty of loyalty. The document uses headings, examples, and legal reasoning to explain agency law concepts.
The document provides an overview of key concepts in insurance law, including:
1) Insurance allows an insured to transfer risk to an insurer in exchange for premium payments.
2) An insurance policy must satisfy contract requirements and be interpreted based on an average person's understanding.
3) Coverage disputes may involve determining whether a covered or excluded peril was the proximate cause of a loss.
3) Insurers have duties to defend claims potentially within the policy's scope and indemnify insured for covered losses up to policy limits.
This chapter discusses the law of real property, including ownership and interests in land and other items attached to land. It covers different types of estates in land like fee simple and life estates. It also discusses how property is acquired through deeds and other methods. Government control of land use through eminent domain, zoning, and other laws is also summarized. Key cases like Kelo v. City of New London are briefly outlined.
Chapter 22 – Remedies for Breach of Sales ContractsUAF_BA330
This document discusses remedies for breach of sales contracts under the Uniform Commercial Code (UCC). [1] It covers agreed remedies like liquidated damages clauses and limitation of liability clauses. [2] It describes remedies available to injured sellers like canceling the contract, reselling goods, and recovering damages. [3] It also describes remedies for injured buyers such as cover and obtaining substitute goods, recovering damages based on market price differences, and specific performance for unique goods.
Chapter 19 – Formation of Terms of Sales ContractsUAF_BA330
Risk of loss passes to buyer when seller delivers goods to carrier under shipment contracts like FOB, FAS, CIF, and C&F. Destination contracts keep risk with seller until delivery. Parties are free to agree otherwise subject to good faith.
Principles of Roods Approach!!!!!!!.pptxibtesaam huma
Principles of Rood’s Approach
Treatment technique used in physiotherapy for neurological patients which aids them to recover and improve quality of life
Facilitatory techniques
Inhibitory techniques
Neuroimaging Mastery Project: Presentation #6 Subarachnoid HemorrhageSean M. Fox
Dr. Teresa Crow is an Emergency Medicine Residents at Carolinas Medical Center and is interested in medical education. Dr. Erin Miller, MD is a Neurosurgical resident at Carolinas Medical Center. Along with the guidance of Dr. Michael Gibbs (Chair of Emergency Medicine), Dr. Jonathan Clemente (Chief of the Department of Radiology and Neuroradiology specialist), Dr. Christa Swisher (Neurocritcal Care Intensivist), and Dr. Scott Wait (Chief of Pediatric Neurosurgery) they aim to help educate us on Neuroimaging. In this presentation they will address Subarachnoid Hemorrhage. Follow along with the EMGuideWire.com team as they post the CMC Neuroimaging Case Studies.
- Subarachnoid Hemorrhage
How to Create a New Article in Knowledge App in Odoo 17Celine George
Odoo Knowledge is a multipurpose productivity app that allows internal users to enrich their business knowledge base and provide individually or collaboratively gathered information.
The Jewish Trinity : Sabbath,Shekinah and Sanctuary 4.pdfJackieSparrow3
we may assume that God created the cosmos to be his great temple, in which he rested after his creative work. Nevertheless, his special revelatory presence did not fill the entire earth yet, since it was his intention that his human vice-regent, whom he installed in the garden sanctuary, would extend worldwide the boundaries of that sanctuary and of God’s presence. Adam, of course, disobeyed this mandate, so that humanity no longer enjoyed God’s presence in the little localized garden. Consequently, the entire earth became infected with sin and idolatry in a way it had not been previously before the fall, while yet in its still imperfect newly created state. Therefore, the various expressions about God being unable to inhabit earthly structures are best understood, at least in part, by realizing that the old order and sanctuary have been tainted with sin and must be cleansed and recreated before God’s Shekinah presence, formerly limited to heaven and the holy of holies, can dwell universally throughout creation
Title: Relational Database Management System Concepts(RDBMS)
Description:
Welcome to the comprehensive guide on Relational Database Management System (RDBMS) concepts, tailored for final year B.Sc. Computer Science students affiliated with Alagappa University. This document covers fundamental principles and advanced topics in RDBMS, offering a structured approach to understanding databases in the context of modern computing. PDF content is prepared from the text book Learn Oracle 8I by JOSE A RAMALHO.
Key Topics Covered:
Main Topic : DATA INTEGRITY, CREATING AND MAINTAINING A TABLE AND INDEX
Sub-Topic :
Data Integrity,Types of Integrity, Integrity Constraints, Primary Key, Foreign key, unique key, self referential integrity,
creating and maintain a table, Modifying a table, alter a table, Deleting a table
Create an Index, Alter Index, Drop Index, Function based index, obtaining information about index, Difference between ROWID and ROWNUM
Target Audience:
Final year B.Sc. Computer Science students at Alagappa University seeking a solid foundation in RDBMS principles for academic and practical applications.
About the Author:
Dr. S. Murugan is Associate Professor at Alagappa Government Arts College, Karaikudi. With 23 years of teaching experience in the field of Computer Science, Dr. S. Murugan has a passion for simplifying complex concepts in database management.
Disclaimer:
This document is intended for educational purposes only. The content presented here reflects the author’s understanding in the field of RDBMS as of 2024.
How to Show Sample Data in Tree and Kanban View in Odoo 17Celine George
In Odoo 17, sample data serves as a valuable resource for users seeking to familiarize themselves with the functionalities and capabilities of the software prior to integrating their own information. In this slide we are going to discuss about how to show sample data to a tree view and a kanban view.
Delegation Inheritance in Odoo 17 and Its Use CasesCeline George
There are 3 types of inheritance in odoo Classical, Extension, and Delegation. Delegation inheritance is used to sink other models to our custom model. And there is no change in the views. This slide will discuss delegation inheritance and its use cases in odoo 17.
Split Shifts From Gantt View in the Odoo 17Celine George
Odoo allows users to split long shifts into multiple segments directly from the Gantt view.Each segment retains details of the original shift, such as employee assignment, start time, end time, and specific tasks or descriptions.
How to Store Data on the Odoo 17 WebsiteCeline George
Here we are going to discuss how to store data in Odoo 17 Website.
It includes defining a model with few fields in it. Add demo data into the model using data directory. Also using a controller, pass the values into the template while rendering it and display the values in the website.
Is Email Marketing Really Effective In 2024?Rakesh Jalan
Slide 1
Is Email Marketing Really Effective in 2024?
Yes, Email Marketing is still a great method for direct marketing.
Slide 2
In this article we will cover:
- What is Email Marketing?
- Pros and cons of Email Marketing.
- Tools available for Email Marketing.
- Ways to make Email Marketing effective.
Slide 3
What Is Email Marketing?
Using email to contact customers is called Email Marketing. It's a quiet and effective communication method. Mastering it can significantly boost business. In digital marketing, two long-term assets are your website and your email list. Social media apps may change, but your website and email list remain constant.
Slide 4
Types of Email Marketing:
1. Welcome Emails
2. Information Emails
3. Transactional Emails
4. Newsletter Emails
5. Lead Nurturing Emails
6. Sponsorship Emails
7. Sales Letter Emails
8. Re-Engagement Emails
9. Brand Story Emails
10. Review Request Emails
Slide 5
Advantages Of Email Marketing
1. Cost-Effective: Cheaper than other methods.
2. Easy: Simple to learn and use.
3. Targeted Audience: Reach your exact audience.
4. Detailed Messages: Convey clear, detailed messages.
5. Non-Disturbing: Less intrusive than social media.
6. Non-Irritating: Customers are less likely to get annoyed.
7. Long Format: Use detailed text, photos, and videos.
8. Easy to Unsubscribe: Customers can easily opt out.
9. Easy Tracking: Track delivery, open rates, and clicks.
10. Professional: Seen as more professional; customers read carefully.
Slide 6
Disadvantages Of Email Marketing:
1. Irrelevant Emails: Costs can rise with irrelevant emails.
2. Poor Content: Boring emails can lead to disengagement.
3. Easy Unsubscribe: Customers can easily leave your list.
Slide 7
Email Marketing Tools
Choosing a good tool involves considering:
1. Deliverability: Email delivery rate.
2. Inbox Placement: Reaching inbox, not spam or promotions.
3. Ease of Use: Simplicity of use.
4. Cost: Affordability.
5. List Maintenance: Keeping the list clean.
6. Features: Regular features like Broadcast and Sequence.
7. Automation: Better with automation.
Slide 8
Top 5 Email Marketing Tools:
1. ConvertKit
2. Get Response
3. Mailchimp
4. Active Campaign
5. Aweber
Slide 9
Email Marketing Strategy
To get good results, consider:
1. Build your own list.
2. Never buy leads.
3. Respect your customers.
4. Always provide value.
5. Don’t email just to sell.
6. Write heartfelt emails.
7. Stick to a schedule.
8. Use photos and videos.
9. Segment your list.
10. Personalize emails.
11. Ensure mobile-friendliness.
12. Optimize timing.
13. Keep designs clean.
14. Remove cold leads.
Slide 10
Uses of Email Marketing:
1. Affiliate Marketing
2. Blogging
3. Customer Relationship Management (CRM)
4. Newsletter Circulation
5. Transaction Notifications
6. Information Dissemination
7. Gathering Feedback
8. Selling Courses
9. Selling Products/Services
Read Full Article:
https://digitalsamaaj.com/is-email-marketing-effective-in-2024/
NC Public Schools Involved in NCDPI, Zipline Partnership
Chapter 13 – Reality of Consent
1. C H A P T E R
13
Reality of Consent
Necessity never made a good
bargain.
Benjamin Franklin, 1735
13-1
2. Learning Objectives
• Explain five doctrines that permit
people to avoid their contracts
because of the absence of real
consent and identify elements:
– Misrepresentation
– Fraud
– Mistake
– Duress, and
– Undue influence
13-2
3. Effect of The Five Doctrines
• Contracts induced by mistake, fraud,
misrepresentation, duress, or undue
influence are generally considered to
be voidable
– Person claiming non-consent has power
to rescind (cancel) the contract
– Person claiming non-consent must not act
in a manner to ratify (affirm) the contract
13-3
4. Misrepresentation or Fraud?
• A misrepresentation is a false statement
and may be negligent (innocent) or
fraudulent (made with knowledge of
falsity and intent to deceive)
– Either way, injured party may void
(rescind) the contract
• A person who commits fraud may be
liable in tort for damages, including
punitive damages
13-4
5. Elements
• Innocent or fraudulent misrepresentation:
– Defendant made an untrue assertion of fact
• Includes active concealment or non-
disclosure
– Fact asserted was material or was fraudulent
• Fact is material if likely to play significant role
in inducing reasonable person to enter the
contract
– Complaining party entered the contract
because of reliance on the assertion
13-5
6. Elements (cont.)
• Reliance of
complainant was
reasonable
– Reliance means that
person entered the
contract because of
belief in the assertion
• Fifth element for fraud:
– Injury
13-6
8. Timothy v. Keetch
• Facts:
– Defendants wanted to start a therapeutic
horse ranch as business venture, borrowed
$102,000 from MSF and pledged a stallion they
bought as collateral for the loan
• Financing statement filed in UCC database
– Plaintiffs agreed to loan Defendants money,
relying upon Defendants’ offer of the stallion as
loan collateral and statement of ownership
13-8
9. Timothy v. Keetch
• Issue: Is it reasonable to rely on representation
that an asset is owned “free and clear” when
public record check would show otherwise
• Holding: plaintiff may justifiably rely on positive
assertions of fact without independent
Investigation since nothing in the transaction
suggested anything that would “serve as a
warning” that they were being deceived
– Affirmed in favor of plaintiffs
13-9
10. Mistake in Contracts
• A mistake is a belief about a fact that
is not in accord with the truth
– Mistake must relate to facts as they
exist at the time the contract is created
– Mistake not due to other party’s
statements
• Mutual mistakes may be remedied by
reformation
13-10
11. Mistake in Contracts
• A unilateral mistake will not render a
contract unenforceable unless unequal
bargaining position existed
– Sumerel v. Goodyear Tire & Rubber Company in
which plaintiffs attempted to exploit
defendants’ mathematical or clerical error
and failed
13-11
12. Duress
• Duress is wrongful threat or
act that coerces a person
to enter or modify contract
– Physical, emotional, or
economic harm
• Given duress, victim must
have no reasonable
choice but to enter the
contract
– Cabot Corp. v AVX Corp.
13-12
13. Cabot Corporation v.
AVX Corporation
• Facts:
– After long negotiation of a long-term supply
contract, parties disputed whether contract
was valid and binding (Cabot’s claim) or void
due to economic duress (AVX’s claim)
• The Law:
– To establish economic duress, party must show
he has been the victim of a wrongful or
unlawful act or threat, and such act or threat
must be one which deprives the victim of
unfettered will
13-13
14. Cabot Corporation v.
AVX Corporation
• Law Applied to Facts:
– AVX and Cabot are sophisticated and
substantial commercial parties represented
by highly competent counsel
– Cabot was in stronger position than AVX, but
“hard bargaining is not unlawful”
– No evidence of coercion, but there is
evidence of AVX’s ratification
• Holding:
– Judgment affirmed in favor of Cabot
13-14
15. Undue Influence
• Undue influence involves
wrongful pressure exerted
on a person during the
bargaining process
• Unlike duress, pressure is
exerted through persuasion
rather than coercion
• Key is the weakness of the
person “persuaded”
13-15
17. Test Your Knowledge
• True=A, False = B
– A contract signed under duress or
undue influence is simply void.
– A misrepresentation may be negligent
(innocent) or fraudulent.
– Mutual mistakes may be remedied by
reformation
– Duress and undue influence have the
same meaning
13-17
18. Test Your Knowledge
• Multiple Choice
– Elements of innocent misrepresentation:
a) False assertion
b) Knowingly made to induce a person
to enter a contract
c) Reasonable reliance on the assertion
by complainant
d) All of the above
e) Both (a) and (c), but not (b)
13-18
19. Test Your Knowledge
• Multiple Choice
– A unilateral mistake will not render a
contract void unless:
a) Substantial difference between
contract and market price
b) Fundamental error occurred
c) An unequal bargaining position
existed
13-19
20. Thought Question
• Your landlord tells you
that you will be evicted
from your apartment or
your rent must increase
by $50 per month
because your neighbors
complain about your
dog. If you agree to the
increase, would the
contract be void or
voidable under the
theory of duress?
13-20
Editor's Notes
Cabot Corporation v. AVX Corporation is a case example of ratification.
Concealment example: if Summers offers his house for sale and paints the ceilings to conceal the fact that the roof leaks, his active concealment constitutes an assertion of fact Nondisclosure differs from concealment in that concealment involves the active hiding of a fact, while nondisclosure is the failure to volunteer information
Problem with justifiable reliance element is identifying the extent to which the relying party is responsible for investigating the accuracy of the statement on which he relies. Section 172 of the Restatement, which provides that a relying party’s failure to discover facts before entering the contract does not make his reliance unjustifiable unless his fault was too extreme. Most courts place a greater degree of accountability on the person who makes the assertion rather than the person who relies on the assertion.
The hyperlink is to the Circuit Court’s opinion on the Findlaw.com website. The photo is of a dun stallion (though a mustang rather than a Quarter Horse). The plaintiffs did some due diligence, checking status of ownership of the horse with the trainer and the American Quarter Horse Association, but did not check Uniform Commercial Code filings.
Hyperlink is to the Colorado Supreme Court’s opinion in pdf. Court: “In short, the record demonstrates that Brooks did not seek an agreement through conscious ignorance. Rather, the record shows that he sought further dialogue because he knew of the discrepancy in the parties’ calculations. In our view, plaintiffs’ efforts to exploit Goodyear’s obvious mathematical or clerical error, thereby obtaining a windfall of over $550,000, were clearly inequitable. For these reasons, we hold that even if Brooks’s November 2, 2006, e-mail and charts could be characterized as an offer and that offer was accepted, Goodyear may properly avoid the resulting agreement on the facts presented here.”
Reasonable Alternative Example: Barry, a traveling salesman, takes his car to Cheatum Motors for repair. Barry pays Cheatum the full amount previously agreed upon for the repair, but Cheatum refuses to return Barry’s car to him unless Barry agrees to pay substantially more than the contract price for the repairs. Because of his urgent need for the return of his car, Barry agrees to do this. In this case, Barry technically had the alternative of filing a legal action to recover his car. However, this would not be a reasonable alternative for someone who needs the car urgently because of the time, expense, and uncertainty involved in pursuing a lawsuit. Thus, Barry could avoid his agreement to pay more money under a theory of duress.
AVX Corporation manufactures capacitors for electronic products. Tantalum, an elemental metal as rare in nature as uranium, is used in the manufacture of AVX’s products. Cabot Corporation is a major supplier of tantalum powder and wire and supplied AVX with tantalum products for many years. During volatile market, AVX purchased tantalum from Cabot at preferable prices without entering binding, long-term contracts. In 2000, a shortage of tantalum developed and In August 2000, Cabot notified all of its customers that, in the future, it proposed to commit its limited production capacity to those customers who were prepared to enter into binding, long-term supply contracts. Between August and November 2000, Cabot and AVX negotiated the terms of a binding, long-term supply contract. Both parties were represented by highly competent legal counsel throughout the process. Cabot and AVX memorialized the terms of a basic agreement to a binding, five-year contract, under which AVX would purchase specified quantities of tantalum powder and wire at stated prices. The prices agreed to were no higher than the then-current market prices for tantalum products. Cabot agreed to AVX’s demand of “most favored customer” protection. In addition, the parties agreed that the agreement would supersede all prior agreements (including the letters of intent) and released each other from all claims arising under any prior agreements. In July 2002, more than 20 months after the supply contract was negotiated, and more than 18 months after it was signed, AVX filed an action against Cabot in federal court. AVX alleged that the 2000 letters of intent were binding contracts and that the supply contract was void because it had been executed by AVX under economic duress. This action was dismissed for lack of jurisdiction. Cabot then filed an action for a declaratory judgment, seeking a declaration that the supply contract was a valid and binding contract, and that the 2000 letters of intent were not binding contracts, and were, in any event, superseded by the supply contract. In its answer, AVX asserted economic duress with regard to the supply contract, and filed various counterclaims. Cabot filed a motion for partial summary judgment, which the trial court granted. AVX appealed.
Court: “Even if we were to conclude that material facts regarding the existence of economic duress remain in dispute, Cabot nonetheless would be entitled to summary judgment because AVX ratified the contract by its actions. A contract that is voidable for duress may be ratified and affirmed. A party must complain promptly of coercive acts that allegedly forced it into the contract or the defense of duress is waived, and the contract ratified. The requirement that the party claiming duress disclaim the contract or release about which he is complaining promptly or be held to have forfeited his right to do so protects the stability and reliability of such agreements by denying the weaker party the “heads I win, tails you lose” option of waiting to see how the arrangement works out and then deciding whether to seek to undo it…. The supply agreement was executed in January 2001, and the first time AVX asserted duress was in July 2002. This lengthy period of silence is powerful (if not conclusive) evidence of ratification.” Lesson : If you’re going to complain about something, get to court and resolve the situation or forget it and move on!
Undue influence is common in familial relationships with regard to wills and trusts.
False. The contract is voidable at the option of the person pressured. True. True. False. Unlike duress, pressure is exerted through persuasion rather than coercion .
The correct answer is (e). If the assertion was knowingly made, the misrepresentation would be fraudulent rather than innocent.
The correct answer is (c).
Good question since the answer may vary from state to state. Also, it might depend on whether the landlord knew about the dog and required a security deposit at the lease beginning. Most states, however, would hold that you have reasonable alternatives, thus duress has not occurred. Of course, this raises the issue of policy and lawmaking since laws in some states protect commercial interests (e.g., landlords) more than consumer interests (e.g., tenants).