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Vitiating Factors (Misrepresentation (Wholly innocent (Genuine belief),…
Vitiating Factors
Misrepresentation
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Silence is not misrepresentation unless there is a change of circumstances, good faith is required or silence makes the statement misleading
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Illegality
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Performance = Illegal
May be enforeable, particularly if 1 party is innocent
Terms:
Void - no rights or duties arise
Voidable - one or more parties has the right to choose to avoid the contract
Unenforceable - contract is valid, but courts won't enforce it
Caveat emptor - let the buyer beware, it is the buyers jobs to make inquires before buying
Non est factum - one of the parties is under a complete misapprehension of the effect of the contract and has not be careless in signing