2 True true agreement – offer – acceptance; Assuming that the other three elements sometimes exist, the agreements turn out to be wrong. 13 Innocent Misrepresentation Example: Fred bought an ATV from Matt, an acquaintance at school. Matt said he thought the bike didn`t need repairs. After a weekend, Fred discovered that the rear wheel was badly misaligned. Fred was able to cancel the agreement and ask for his money. He is not entitled to damages because Matt really believed that the bike was in good condition. 15 Unilateral error Unilateral error – an error in one of the contracting parties. As a general rule, the contract cannot misrepresent the value of any error in relation to the nature of the agreement – people are bound by the signing of a written agreement, even if they have not read it. Error regarding the identity of the parties- May cause a contract not deny 8 concealment example: If a customer asks if a car is a 1964 Mustang and the person who knows the car is a 1965 but does not say intention to sell; “Yes, that`s right,” the person cannot be sued because he did not intend to sell the vehicle. The statement was not to be relied upon because the car was never for sale. 7 Concealment by misrepresenting, not saying anything they should have said.
Presentation known as false- actual knowledge or non-compliance with the false presentation project truth, this should be done especially given the more lenient attitude towards the doctrine of a “lost chance” in the commercial field. This raises the question of how to quantify… 16 Unilateral Error Example: You send a letter to a friend who serves as an offer. The postman delivers the letter to another person who has the same name as your friend, and they accept the offer. The contract can be cancelled because the wrong person has accepted the offer. 6 False presentation of FactOne material, which is important, it is important for at least one of the parts example: seller says potential buyer; “It`s a very showy car. You`ll have a lot of appointments. ” instead of telling him it`s a 1964 Mustang. The sellers` assertions are not essential facts. Majority reasoning opinion: DUNN, Justice A.
Rule: I. Strict of the theory of liability, the commercial seller of used products not as by… 4 Fraud- Deliberate deception to ensure unfair or illegal profit. Victim a 2 decisions: Rescind- Cancel or take back Sue for Fraud- (Tort) Money damages damages-designed to punish the wrong doer 18 Bilateral Mistake Example: I agree to sell my car to someone for ` WeWe the person or myself knows that my car was totaled last night.