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Business Law Concentrate 3e Resources is no longer available and it was replaced by Business Law Concentrate 4e.
Chapter 3 Key facts checklists
Chapter 3 Key facts checklists
Contract II: mistake, misrepresentation, duress, and undue influence
- The law imposes restrictions on certain persons (such as minors) when forming a contract.
- A fundamental mistake can make a contract void.
- There is no definite definition of a term, but the courts have identified various tests to differentiate a term from a representation.
- A contract formed on the basis of misrepresentation will make the contract voidable, but the innocent party must act promptly if he/she wishes to repudiate.
- Duress and undue influence affect the validity of a contract.