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CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT.

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Presentation on theme: "CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT."— Presentation transcript:

1 CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT

2 Learning Objectives: Incapacity to Contract  Types of Incapacity  Case of Minors Genuine Assent  Mistake  Misrepresentation  Other Grounds Chapter 162 CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT

3 1.Types of Incapacity 2. Case of Minors a.Minors’ Contracts: Voidable b.Right to Disaffirm c.Ratification d.Liability for Necessaries e.Third-Party Rights Chapter 163 INCAPACITY TO CONTRACT

4 1.Nature of the Concept 2.Categories: a.Mistake Chapter 164 GENUINE ASSENT

5 i.Definition: a state of mind that is inconsistent with reality. ii.Concept of Materiality iii.Reformation vs. Avoidance iv.Nature of Factual Mistake Chapter 165 Mistake

6 … v.Bilateral Mistake: I.Def: all parties make the same mistake II.When relief is appropriate vi.Unilateral Mistake: I.Def: only one party makes mistake. II.When relief is appropriate vii.Reformation of Written Contracts Chapter 166 Mistake (cont.)

7 1.Nature of the Concept 2.Categories: a.Mistake b.Misrepresentation Chapter 167 GENUINE ASSENT

8 i.Types of Misrepresentation I.Intentional (Fraud) II.Unintentional ii.Fraud I.Nature II.Elements Chapter 168 Misrepresentation

9 1.Scienter (or Intent to Mislead) 2.False Representation a.Fact b.Opinion c.Silence 3.Justifiable Reliance 4.Damage Chapter 169 Elements of Fraud

10 1.Nature of the Concept 2.Categories: a.Mistake b.Misrepresentation c.Undue Influence and Duress Chapter 1610 GENUINE ASSENT

11 CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT


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