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10 Cards in this Set
- Front
- Back
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Remedies
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usually must choose between dollar damages and equitable remedy
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Reformation
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If there is an oral agreement of the parties and a mistake and writing it up (scrivener's error), court revises the contract to conform to the actual agreement.
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Fact is not...
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Law, opinion, prediction or value
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Misrepresentation-
Innocent |
Mistake without fault
Recission only |
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Misrepresentation-
Negligent |
Recission or actual damages
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Misrepresentation- fraudulent
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Actual and punitive damages on one hand or recission on the other
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Fraud in the execution (signing)
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Victim is told he is signing something else
Contract is void |
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Fraud in the inducement
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Deception as to the understood subject of contract, not as to the document itself.
Contract is voidable |
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Exceptions to fraud in the inducement
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a. A confidential relationship between seller and buyer
b. Seller has a superior knowledge upon which seller expects reliance c. Concealment of serious defect of which seller knows but buyer has no reasonable way of finding out d. partial disclosure |
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Intent to deceive by the defendant
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Defendant has knowledge of falsity or defendant has reckless disregard for the truth: making a statement at a time when the speaker has serious doubts about the truth of it.
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