Misrepresentation Flashcards
1
Q
what is misrepresentation?
A
some terms can be a mere representation or a term of the contract. misrepresentation occurs when representations are false, and they influence a party to enter into a contract. misrepresentation makes a contract voidable. the contract is valid until the affected party takes action to end the contract.
2
Q
void definition
A
contract has no legal standing, a void contract is void from the beginning- it was never valid
3
Q
voidable definition
A
4
Q
what could courts do if they find there has been misrepresentation?
A
end the contract (recission)
5
Q
what is recission?
A
recission treats the contract as if it had never existed, parties are put back into the positions they were before the contract was made.
