Autograph Interest Transfer Agreement Made Easy

Paste bates contract

[Music] in this subunit we're going to talk about the formation defense of misrepresentation all right so these are our formation defenses we've already talked about duress and the rest of them we'll talk about later right now in this sub unit let's talk about misrepresentation here's the setup so imagine someone makes a statement to induce another party to enter into a contract but that statement is not true it's not in accord with the facts here are some examples all right so let's say that the seller to a buyer in the sale and purchase of a house says that this house has no termite damage but it does now we have a misrepresentation or how about an example where the seller to a buyer of a business and the seller says this company has had a million dollars in revenue in each of the past five years but it hasn't that is a misrepresentation statement not an accord with the facts all right let's look at the elements the rule of misrepresentation a card a contract is voidable by the aggrieved party when the other party made a misrepresentation that was fraudulent or material it induced the ascent of the aggrieved party the aggrieved party actually relied on the misrepresentation and the aggrieved party was justified in relying on the misrepresentation we'll go through each of those elements one by one all right our first element is was there a misrepresentation a misrepresentation is a statement not in accord with the facts so in our previous examples this house has no term damage we said that this was not true that the house did indeed did indeed have termite damage and therefore the statement this house has no termite damage is not in accord with the facts same thing with the statement that the company has made has had 1 million dollars in revenue over each of the past five years we said that that was not true and therefore that statement is not in accord with the facts it is a misrepresentation now a couple things you want to look out for a statement of intention is not a misrepresentation if you say I intend to do something that is not representation the second one is a promise if you promise to do something that is a promise not a representation a representation is a statement about a fact it is not a promise to do something there are certain types of misrepresentations which are a little bit more tricky and these are our spectral special situations it's usually when there silence so you might say well if there's silence how can there be a representation then there is no misrepresentation but there are special circumstances under the law where silence will be considered a misrepresentation that if the three situations are when you speak in half-truths the second one is where you actively conceal something and the third one is non-disclosure when you just keep...