Misrepresentation refers to the situation where a party to the contract provides false statement of facts to the other party so that even if this is not a contractual term outline of argumentative essay, the other party is induced by the statement to engage in the contract [4]. The effect of the provision of a false statement is to make the agreement voidable and give the aggrieved party the remedy to rescind the agreement or claim damages [5]. The definition of misrepresentation then implies several things. First is that the misrepresentation should constitute false statement of facts and not merely opinions or future expectations. One case distinguishes misrepresentation and mere statements of fact by providing that merely stating an opinion is not considered as misrepresentation [6]. However reasons to do my homework, other cases [7] provides that if the person uttering the statement holds the position to know or learn of true facts and there is proof that the person providing the statement could not have validly held such statement, the information provided will be considered as fact. There are also cases providing that statements on future expectations are not considered as misrepresentation except only if the statement is incorporated into the terms of the contract [8]. However introduction argumentative essay, this involves the qualification that if the person uttering the statement regarding future expectations holds knowledge that the expectation would not be actualized in the future, then the statement becomes a misrepresentation [9]. Since Peter was able to prove the existence of misrepresentation in the formation of the contract, he is entitled to three remedies. First is rescission of the contract, which has the effect of setting aside the agreement [15]. The underlying principle in rescission is to place the parties in the same position they were before their engagement in the contract. Rescission is accomplished by giving notice to the other party or any action that indicates rescission such as the filing of a case against the party that communicated the misrepresentation [16]. However, rescission is deemed as an equitable remedy to be awarded based on the discretion of the court so that in some instances a party may lose the right to the remedy when the aggrieved party has affirmed the contract even after learning of the misrepresentation [17] ; reasonable time has elapsed from the time that the aggrieved party learned of the misrepresentation [18] ; it is impossible for the parties to revert back to their original positions [19] ; and a third party obtains the rights under the contract [20] From the facts of the case, a valid contract was created when Peter agreed to the offer of John after months of negotiation and despite the refusal of John to show Peter the books of account of the company to create a ‘meeting of the minds’. Without any proof to the contrary, Peter appears to have engaged in the contract on his own free will and offered his consent freely. It appears that the parties also had the capacity to engage in the contract, the form was in order essay writing service uk law, and the sale of the company is for a legal purpose. First is the existence of a valid contract, a term or the terms have been breached. To determine the existence of valid contract, the essential elements should arise. The essential elements of a contract are: 1) existence of an agreement that arises when one party makes and offer, the terms of which are completely or substantially accepted by the other party to give rise to a ‘meeting of the minds’; 2) presence of consideration, which pertains to the mutual promises given by the parties relative to the agreement; 3) intention to engage in legal relations, with the terms of the contract and the fulfillment of the obligations intended towards legal consequences; 4) form such as oral or in writing depending upon the object of the contract; 5) capacity of the parties to engage in a contract such as rightful ownership of the thing being appropriated or age; 6) provision of consent, which means that the parties to the contract engaged in the agreement freely; and 7) legality of the agreement so that there cannot be a valid contract for the commission of a crime or other objects deemed unconscionable or against public policy. [2] The lack of one or more of these elements has the effect of rendering the contract as unenforceable, voidable or void; with each having their respective to the validity and continuity of the contract [3]. The regular postal rule did not apply for instantaneous means of communications such as a telex. Instead sample thesis for history paper, acceptance occurs where the message of acceptance is read. Dumore V Alexander (1830) No contract was formed. Therefore, it appears that a postal acceptance could be withdrawn by a speedier means. The case is cited to support the view that retraction may be possible. However, it was a majority decision and the reasoning is very unclear. Manchester Diocesan Council for Education v Commercial and General Investments Ltd [1969] Byrne V Van Tienhoven (1880) Dr Jones makes an offer to the bank, at 07.00 a letter of acceptance, addressed correctly covering letters for resume, was handed to a postman flowers for algernon essay, who had no authority to receive letters only to deliver post. Entores was a London-based trading company that sent an offer by telex for the purchase of copper cathodes from a company based in Amsterdam. The Dutch company sent an acceptance by telex. The contract was not fulfilled and so Entores attempted to sue the owner of the Dutch company for damages. The contract was found to take place in London and not Holland. Wenkheim v Arndt (1873) A Scottish case. A dispute over whether correspondence between two potential employers had formed a contract to hire a servant. The postal rule is still valued even if the letter never arrives or is destroyed. Upon posting the letter there is a meeting of minds (consensus ad idem) Example of a Unilateral Offer - exception to the general rule that an advert is an invitation to treat. You can oust the postal rule if you state a different method. Demonstrates Unilateral mistake. It holds that when it is obvious that someone has made a mistake in the terms of an offer, one may not simply "snap up" the offer and be able to enforce the agreement.
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