Week 7 - Terms and Representations Flashcards
1
Q
Statements made prior to the contract may either be…
A
- terms
- representations
- mere sales ‘puffs’
2
Q
What is the difference between a term and a representation?
A
A term is intended to be part of the contract that you can rely upon. A representation is more of an opinion
3
Q
When could a representation become a term?
A
If someone who has great skill/knowledge says their opinion in a very direct clear way - essentially a fact
4
Q
What are the 3 factors that help courts decide if a statement was a term or representation?
A
- relative knowledge of each party
- how much each party relied on statement
- strength of the statement
