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Genuine Agreement

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Tammy Oineon

on 14 February 2013

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Transcript of Genuine Agreement

Genuine Agreement Examples of Written Contracts? Examples of Unwritten Contracts? Fraud Offer and acceptance together create Misrepresentation Unilateral Mistakes: Mistake Actual force - contract is void
Threat of force - contract is voidable Duress Dependency relationship
Unfair or improper pressure
Beneficial contract Undue Influence Genuine Agreement It can be destroyed by fraud, misrepresentation, mistake, duress, or undue influence. "A deliberate deception intended to secure an unfair or unlawful gain" Elements of Fraud:
A false representation of fact
Knowledge of the falsity
Intent to deceive
Reasonable reliance
An actual loss Consequences: You may rescind (cancel)
the contract, or you may
sue for actual and
punitive damages. Consequences: You may rescind (cancel)
the contract. You may not sue for actual or
punitive damages. "An innocent statement that turns out to be false" Nature of the Agreement - not cause for rescission
Identity of a Party - may be cause for rescission Possibility of Performance - is cause for rescission
Subject Matter - is cause for rescission Bilateral Mistakes: "An error on the part of one or both parties as to the details of the agreement" "Overcoming a person's will by use of force or by threat of force to cause bodily or economic harm" "Unfair and improper persuasive pressure to force another person to enter into an agreement" Elements of Undue Influence:
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