Max's Legal Refresher - Contract Law (III)

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Which is NOT an exception to rule that without complete performance there is no obligation to pay any money (Cutter v Powell)?
Parties agree to release each other from all remaining obligations, provided all elements of contract formation present
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Definition of "misrepresentation"?
Positive statement of fact or law, made or adopted by a party to a contract, which is untrue. Rescission available where made with object and result of inducing other into contract in reliance on it (Halsbury)
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Which is generally NOT a misrepresentation?
Silence, including failure to correct (Hamilton)
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What are the remedies available for misrepresentation?
Rescission, damages, indemnity
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Definition of "rescission"?
Where contract is set aside and parties are put back into position in which they were before contract was made (PLC)
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Which is NOT a bar to rescission?
No substantial loss by representee
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Which is NOT true regarding damages under s2(1) Misrepresentation Act 1967?
Burden of proof on claimant to show defendant had no reasonable grounds to believe true (Howard Marine v Ogden)
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Which is NOT true regarding damages under s2(2) Misrepresentation Act 1967?
Only if misrepresentation is fraudulent
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Definition of "duress"?
Illegitimate threats or pressure which coerce a party into entering or varying a contract (Carillion Construction)
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Which is NOT a factor indicating illegitimate pressure in duress, according to Carillion Construction?
Threat to issue legal proceedings / not to enter into contract
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What is the effect where 3P creditor has actual/constructive notice of undue influence over surety?
Any security contract obtained as a result = voidable (Barclays, confirmed in Etridge)
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Which is NOT required to show 3P creditor put on inquiry regarding undue influence took reasonable steps to alert surety?
Private meeting with independent legal advisor
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Other cards in this set

Card 2

Front

Definition of "misrepresentation"?

Back

Positive statement of fact or law, made or adopted by a party to a contract, which is untrue. Rescission available where made with object and result of inducing other into contract in reliance on it (Halsbury)

Card 3

Front

Which is generally NOT a misrepresentation?

Back

Preview of the front of card 3

Card 4

Front

What are the remedies available for misrepresentation?

Back

Preview of the front of card 4

Card 5

Front

Definition of "rescission"?

Back

Preview of the front of card 5
View more cards

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