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Main principles of contract law
Essay on contract laws
Essay on contract laws
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Recommended: Main principles of contract law
It is a question concern the law of contracts in particular, the law of misrepresentation.
It is my objective to identify the difficult concept of different kind of misrepresentation and analyze why it is problematic.
Misrepresentation is a false statement designed to encourage the other party to enter a contract. To prove a statement to be a misrepresentation, 7 essential conditions must be satisfied:
1. A statement must be made by word or conduct.
2. The statement must be factual.
3. The statement must be false.
4. The offeree must have reasonable relied on the statement.
5. The offeree must have been misled by the statement.
6. The statement must be material to the contract.
7. The statement must be a factor in including the offeree to enter a contract.
In the law of misrepresentation, there are three kinds of misrepresentation.
Fraudulent misrepresentation can be illustrated by Polaroid Far East Ltd. v Bel Trade Co. Ltd. (1990), where BTC, who was offered a special discount price by promising not export or re-export their product, re-exported PFEL¡¦s films to North America and Europe. It was held that BTC had devised a deliberate scheme to buy film at a lower price and to re-export it, and were liable for fraudulent misrepresentation. Fraudulent misrepresentation simply ...
This is a complex case, involving multiple parties and several variables that need to be examined thoroughly. The parties mentioned include Knarles operator of the facility maintenance company, his son Barkley, their employee, a licensed plumber, and Mr. Chetum. Although in the end Chetum is suing the facilities maintenance firm for a breach of contract, all factors must be examined to determine proper fault.
Under which theory or theories of product liability can Kolchek sue to recover for Litisha’s injuries? Could Kolchek sue Porter or Great Lakes?
In the United States, the negative implications of misrepresentations of
Lying is simply an act of not telling the truth, and this definition of lying will be used in future sections of this paper. There are three groups of lies t...
To begin with, misleading advertising is the commercial speech “that can deceive consumers by ambiguity, through presentation or by omitting important information […] or including false information.” It is subject to federal regulation. Before 1895 fraudulent advertising was everywhere. It was not until 1893 to 1911 “when standards were in the making” due to the acknowledgement of ethical dilemmas of false advertising: deceiving the consumer and dishonesty.
There are several types of false statement. One of them is a deliberate lie, which goes under the Tort of Deceit. Another one is negligent misstatement, which is basically the statement made carelessly or without reasonable background and is included into the Law of Tort.
For example, if a plane gets crashed, then the airline company would not tell the public that it was their fault that they didn’t check whether the engines of the plane are working properly or not. Instead, they would say that when the plane was in a sky, the bird hit the engine, and cause the engine to fail. However, if the company used a lie, it would be able to tell the public that nothing happened on that day. In fact, lies aren’t used by big companies because they have a fear of being caught. While, lies are used in a several ways, such as to get out of trouble or to compliment someone. Also, people lie to hide something or to give a false impression. A lie is not only a different explication, but it is a fully different answer from the truth. However, lies are simply false facts. Therefore, it is mandatory for people to know the differences between doublespeak and lies. Also, one must have the ability to know when they are being used, so they cannot face any problem in identifying the
A false statement or a statement intended to deceive someone is known as a lie. Of course, there are many different types of lies. There are those blatant lies that have no truth in them whatsoever, lies of omission, and half-truths.
(b) the other party does make the contract in the course of a business; and
As a consequence of the separate legal entity and limited liability doctrines within the UK’s unitary based system, company law had to develop responses to the ‘agency costs’ that arose. The central response is directors’ duties; these are owed by the directors to the company and operate as a counterbalance to the vast scope of powers given to the board. The benefit of the unitary board system is reflected in the efficiency gains it brings, however the disadvantage is clear, the directors may act to further their own interests to the detriment of the company. It is evident within executive remuneration that directors are placed in a stark conflict of interest position in that they may disproportionately reward themselves. The counterbalance to this concern is S175 Companies Act 2006 (CA 2006) this acts to prevent certain conflicts arising and punishes directors who find themselves in this position. Furthermore, there are specific provisions within the CA 2006 that empower third parties such as shareholders to influence directors’ remuneration.
This case mentioned below is a fine example of understanding the Law of Contract in a better manner. (Gerald, 2014).
Most deception occurs in lower income communities with money as the topic. Look at Los Angeles certain parts will have many billboards advertising gets money quick schemes. Yes, the advertisements look appealing when passing them on the freeway but once the effort is put in to do the, “get money quick scheme,” the person does get money; but the person always has to pay in back with insane interest. That’s what the company does not tell you and what the advertisements do not show. Retailers also do the loopy loop around laws so they squeeze by fraudulent and untruthful claims. Advertisements have intelligent people behind the words. They know how to make a statement sound one way, but when a person looks back at the statement closely it means something completely
It is an unlawful act made by various parties of a specific good or service to inaccurately advertise their product, through false or misleading statements. (http://www.nka.com/practice-areas/consumer-rights/false-advertising-deceptive-marketing/) Advertisers should strongly evade advertisements that have the ability to deceive, regardless the fact that nobody may be deceived and the very first step is to recognizes those practices.
Substantive and Procedural Law – Substantive laws are the social rights and duties of people, and procedural law are guidelines through which government bodies or courts deal with breaches in substantive law. E.g. substantive law would state that hitting someone with a car and driving off is a crime, while procedural law would define how the courts could try and sentence in the case.
"the deliberate attempt, whether successful or not, to conceal, fabricate, and/or manipulate in any other way factual and/or emotional information, by verbal and/or nonverbal means, in order to create or maintain another or others a belief that the communication himself or herself considers false".