Contract and sales of goods Act
Contracts II, UCTA and SGA
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Is everything in a contract a term?!
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Trader’s puffy - typical exaggerating advert statements.!
Representations - a statement of the fault that persuades the other party to enter into the contract. !
The court takes into account four factors in deciding whether a stamens is part of the terms or just presentation. !
1. The parole rule: written contracts - only the terms included in the written contract document are terms; any verbal statements will be representations. !
2. Relative expertise of the parties - representer has the greets knowledge, it is more likely that it will be a contractual term. !
3. Importance of the statement - where the representee indicates to the representer the importance of the statement, this is likely to be help to be a term. !
4. Time - the longer the time lapses between making statement and entering the contract there more likely it will be a representation. !
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A false representation is a misrepresentation. !
There are three different types of misrepresentations:!
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1. Innocent misrepresentation - an untrue statement not made fraudulently. Maybe made carelessly or with reasonable belief.!
2. Negligent misrepresentation - is a statement made without reasonable grounds for belief in its truth.!
3. Fraudulent misrepresentation - untrue statement made intending to recklessly no caring whether its true or not. !
All three type of misrepresentation could give the claimant the right to rescind. Returning the parties to the position they were before the contract was set. It is also known as equitable remedy. !
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Terms: conditions, warranties and innominate terms!
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Traditionally, contractual terms are classified as either conditions or warranties. Innominate terms was created in the Hong Kong Fir Shipping. !
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Conditions
Warranties
Innominate terms
It goes to the root of the contract. If a condition is breached the innocent party is entitled to
!
Is everything in a contract a term?!
!
Trader’s puffy - typical exaggerating advert statements.!
Representations - a statement of the fault that persuades the other party to enter into the contract. !
The court takes into account four factors in deciding whether a stamens is part of the terms or just presentation. !
1. The parole rule: written contracts - only the terms included in the written contract document are terms; any verbal statements will be representations. !
2. Relative expertise of the parties - representer has the greets knowledge, it is more likely that it will be a contractual term. !
3. Importance of the statement - where the representee indicates to the representer the importance of the statement, this is likely to be help to be a term. !
4. Time - the longer the time lapses between making statement and entering the contract there more likely it will be a representation. !
!
A false representation is a misrepresentation. !
There are three different types of misrepresentations:!
!
1. Innocent misrepresentation - an untrue statement not made fraudulently. Maybe made carelessly or with reasonable belief.!
2. Negligent misrepresentation - is a statement made without reasonable grounds for belief in its truth.!
3. Fraudulent misrepresentation - untrue statement made intending to recklessly no caring whether its true or not. !
All three type of misrepresentation could give the claimant the right to rescind. Returning the parties to the position they were before the contract was set. It is also known as equitable remedy. !
!
Terms: conditions, warranties and innominate terms!
!
Traditionally, contractual terms are classified as either conditions or warranties. Innominate terms was created in the Hong Kong Fir Shipping. !
!
Conditions
Warranties
Innominate terms
It goes to the root of the contract. If a condition is breached the innocent party is entitled to