Misrepresentation- A statement of material fact

Question 1

What is meant by a statement of material fact?

Answer 1

-influence/ make a reasonable person enter the contract.
-can be distinguished from a statement of opinion, a statement of future intentions and a statement of law.

Question 2

When is a statement of opinion not considered a statement of material fact?

Answer 2

-If it is the honest opinion of the seller.

Question 3

What case goes with it is not a statement of material fact if it is the honest opinion of the seller?

Answer 3

Bisset v Wilkinson (thought the land could accommodate 2k sheep)

Question 4

Bisset V Wilkinson

Answer 4

A statement of opinion is not considered a statement of material fact if it is the honest opinion of the seller.

Question 5

What is the exception to Bisset V Wilkinson

Answer 5

-Esso Petroleum V Mardon
-if somebody has a higher skill/ knowledge than the other party

Question 6

Esso Petroleum V Mardon

Answer 6

-if somebody has a higher skill/ knowledge than the other party, it is considered to be a statement of fact. (estimate of petrol sold)

Question 7

When can a statement of future intentions seen as ‘fact’?

Answer 7

If at the time of making the statement it is what the person intends to do.

Question 8

When does a statement of future intentions become a misrepresentation?

Answer 8

-if it can be shown that the person making the promise had no intention of carrying it out at the time said.

Question 9

Which case goes with a statement of future intentions?

Answer 9

-Edginton V Fitzmaurice
-telling investors they would build but paid of debts- no intention of carrying out when the statement was made.

Question 10

What is meant by a statement of law?

Answer 10

-assumption everybody has equal access to the law, so not regarded as statements of fact