Business Law Chapter 8 Lecture Notes Part 3 PDF

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Business Law Chapter 8 Lecture Notes Part 3...

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Business Law in Canada Chapter 8 Factors Affecting the Contractual Relationship Part 3 Lecture Notes

Unconscionable Transactions  Allows the court to grant a contract that has been used by a party  You have to demonstrate that – The sides have significantly unequal bargaining positions – One group takes advantage of the role of power – Accords to weaker parties are considerably unfair  Agreement must not be fair Agreement

Mistake  A mistake which destroys consensus  Checkable errors can be linked to: – the key contract terms – an implicit premise of the contract (fact, future event, the law) – the anticipated outcome or effect of the agreement

 Failure is not an accident  The Court is more likely than the statute to correct an error of fact – Unequal enhancement  Law evolves in error to establish a contract that is invalid or void

Shared Mistake  This occurs when both parties agree that every aspect of the contract is the same mistake  Must be a simple mistake on contract subjects  Both parties are popular

 Rectification: Courts will rectify apparent errors  Whether the writings were different from the knowledge...