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CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT. CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT. Learning Objectives: Incapacity to Contract Types of Incapacity Case of Minors Genuine Assent Mistake Misrepresentation Other Grounds. INCAPACITY TO CONTRACT.
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CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT Learning Objectives: Incapacity to Contract Types of Incapacity Case of Minors Genuine Assent Mistake Misrepresentation Other Grounds Chapter 16
INCAPACITY TO CONTRACT • Types of Incapacity • Case of Minors • Minors’ Contracts: Voidable • Right to Disaffirm • Ratification • Liability for Necessaries • Third-Party Rights Chapter 16
GENUINE ASSENT • Nature of the Concept • Categories: • Mistake Chapter 16
Mistake • Definition: a state of mind that is inconsistent with reality. • Concept of Materiality • Reformation vs. Avoidance • Nature of Factual Mistake Chapter 16
Mistake (cont.) … • Bilateral Mistake: • Def: all parties make the same mistake • When relief is appropriate • Unilateral Mistake: • Def: only one party makes mistake. • When relief is appropriate • Reformation of Written Contracts Chapter 16
GENUINE ASSENT • Nature of the Concept • Categories: • Mistake • Misrepresentation Chapter 16
Misrepresentation • Types of Misrepresentation • Intentional (Fraud) • Unintentional • Fraud • Nature • Elements Chapter 16
Elements of Fraud • Scienter (or Intent to Mislead) • False Representation • Fact • Opinion • Silence • Justifiable Reliance • Damage Chapter 16
GENUINE ASSENT • Nature of the Concept • Categories: • Mistake • Misrepresentation • Undue Influence and Duress Chapter 16