Fraud and Misrepresentation - Free Essay Example

CONTRACTUAL CLAIMS AND REMEDIES 1 Legal Remedies for Fraud or Misrepresentation In a Business Environment Introduction In the business world where deals are struck and broken daily it is important to understand what the requirements are from start to finish, however beyond the fundamental scope to the creation of the original terms contracts agreements there are other underlying principles that must be explored that makes a contract voidable or invalid. This paper will explore the those principles that go beyond the scope of the formation, now you can start getting into the meats and potatoes of a contract agreements and find out what makes a contract invalid, what is involved fraudulent misrepresentation that persuades a person or party to false enter into a contract, what the types of damages there are and the equitable remedies for those damages and lastly the common law doctrines used to dissolve contract claims involving fraud and/or misrepresentation. What constitutes an invalid contract? When there is a situation involving fraud and the facts do not match or are not in accordance with the declaration of the contract, then it is good chance misrepresentation or fraud is involved to trick the person into entering into a contract which by law makes the contract voidable to the innocent party. (Cheeseman, 2013) If this happens the innocent party has the right to cancel the contract, ask for compensation or accept the contract and sue for contract damages. (Cheeseman, 2013) The Business Law states there are four elements of that must be used to prove misrepresentation or fraud has occurred. Those four elements are: The wrongdoer made a false representation of material fact. The wrongdoer intended to deceive the innocent party. The innocent party justifiably relied on the misrepresentation. The innocent party was injured. These four elements are what makes a contract invalid and voidable, whether orally or written and for these assertions to be enforceable as misrepresentation a preexisting or contemporary material fact played an important role in provoking the innocent person or party into a contract. (Cheeseman, 2013) There are several types of fraud that an innocent party could claim if the facts presented in the contract indicate a breach has occurred. The most common types of frauds in which a person or business may encounter involving fraud are the following: Fraud in the inception Fraud in the inducement Fraud by Concealment Silence as Misrepresentation and Innocent misrepresentation Undue influence and duress that can arise in the business context When there is situation when a person or business is incoherent to contractual terms of a contract agreement, but the other party knows about the terms of the contract agreement than according the Business Law defines this as undue influence in à ¢Ã¢â€š ¬Ã…“à ¢Ã¢â€š ¬Ã‚ ¦which one person takes advantage of another personà ¢Ã¢â€š ¬Ã¢â€ž ¢s mental, emotional, or physical weakness and unduly persuades that person to enter into a contractà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚  (Cheeseman, 02/2013, p. 228) In order for a contract agreement to legit, both parties must be mentally, emotionally, and physically coherent and competent to the terms of the contract agreement for it to valid, if not then makes the contract void. (Cheeseman, 2013) In order for undue influence to be proven as stated in the Business Law literature the two underlying factors must exists à ¢Ã¢â€š ¬Ã…“A fiduciary or confidential relationship must have existed between the partiesà ¢Ã¢â€š ¬Ã‚  (Cheeseman, 2013) à ¢Ã¢â€š ¬Ã…“The dominant party must have unduly used his or her influence to persuade the servient party to enter into a contract.à ¢Ã¢â€š ¬Ã‚  (Cheeseman, 2013) If a person or party is under duress, or put under pressure to perform or act because they were threatened or coerced into signing a contract, than the courts stipulate the there was no genuine assent to form the contract, as result this interpreted as fraud or misrepresentation, making the contract void, voidable or unenforceable. (Cheeseman, 2013) Types of damages and equitable remedies in contract cases In the case where there is breach of contract, the duty of care in which one party owes a duty to the other for performing an act is categorized into three levels complete, substantial, and inferior. (Cheeseman, 2013) Complete performance, also known as strict performance, occurs when the contracting parties fully execute the terms of contract as expected and required. (Cheeseman, 2013) Contract can be discharged Substantial performance, also known as a minor breach, occurs when the performance by a contracting party slightly deviates from complete performance of the contract. (Cheeseman, 2013) The non breaching party can recover damages Inferior performance, also known as material performance, occurs when a party fails to meet an and uphold to contractual obligations which hinders or destroys the very essence of the contract. (Cheeseman, 2013) Non-breaching party may either rescind the contract or recover restitution Non-breaching party may either affirm the contract or recover damages. Remedies for breach of contract are organized into two categories, monetary and equitable. Monetary damages include compensatory, consequential, liquidated, and nominal Compensatory Damages that compensate a non-breaching party for the loss of a bargain. It places the nonbreaching party in the same position as if the contract had been fully performed. (Cheeseman, 2013) Consequential Damages that compensate a non-breaching party for foreseeable special damages that arise from circumstances outside a contract. The breaching party must have known or should have known that these damages would result from the breach. (Cheeseman, 2013) Nominal Damages awarded against the breaching party even though the non-breaching party has suffered no financial loss because of the breach. A small amount (e.g., $1) is usually awarded. (Cheeseman, 2013) Liquidated An agreement by the parties in advance that sets the amount of damages recoverable in case of breach. These damages are lawful if they do not cause a penalty. (Cheeseman, 2013) Types of damages In the case where a person commits fraud, the innocent party can file a motion for tort liability which they could ask the court for compensatory damages the failure to perform , punitive damages. Some states requires stipulates that an innocent party must choose either between rescinded the contract or sue for the damage. However, some states stipulated that the innocent party can pursues both rescission and damage remedies. An innocent party injured by fraud in a contract for the sale of goods a can choose both rescind and sue for liable damages. Equitable Remedies Equitable remedies are remedies available to the innocent party when there is breach in a contract where legal remedies are not satisfactory to compensation to prevent or dissolve unfair enrichment. Sale contractsà ¢Ã¢â€š ¬Ã¢â€ž ¢ requiring an owed duty to perform a certain act obligates the parties to conform to the specified terms of the agreement under the Uniform Commercial Code UCC-2-301 and 2A-301. Generally equitable damages include specific performance, reformation, and injunction. (Cheeseman, 2013) Specific performance A court orders the breaching party to perform the acts promised in the contract. The subject matter of the contract must be unique. (Cheeseman, 2013) Reformation A court rewrites a contract to express the partiesà ¢Ã¢â€š ¬Ã¢â€ž ¢ true intentions. This remedy is usually used to correct clerical errors. (Cheeseman, 2013) Injunction A court prohibits a party from doing a certain act. Injunctions are available in contract actions only in limited circumstances. (Cheeseman, 2013) When those terms are breached the following remedies were instituted for sellor and lessor performance Right to Withhold Delivery Right to Stop Delivery of Goods In Transit Right to Reclaim Goods Right to Dispose Goods Unfinished Goods Right to Recover the Purchase Price or Rent Right to Recover Damages for Breach of Contract Right to Cancel a Contract When those terms are breached the following remedies were instituted for buyer and lessor performance Right to Reject Nonconforming Goods Or Improperly Tendered Goods Right to Recover Goods From And Insolvent Sellor Or Lessor Right to Obtain Specific Performance Right to Replevy Goods Right to Cancel a Contract Right to Recover Damages for No Delivery or Repudiation Right to Recover Damages for Accepted Nonconforming Goods Common Law Doctrine The à ¢Ã¢â€š ¬Ã…“common law doctrine is a contract law used by everyday people in which a contract or agreement was made that legally bin ds two parties to the agreement. Summary As stated in the Business Law literature, there are three requirements for a contract to exist, an offer, an acceptance of the offer, and consideration, which in this case all three are present. (Cheeseman, 2013) However for the contract to valid and enforceable, it must include an agreement between the two parties, reasonable consideration must given to perform and complete the contract terms, both parties must be mentally aware, knowledgeable capable of the terms of the contract or agreement they are entering from the beginning to the end, and last by law the contract must be legal to do according to federal and state statutes. (Cheeseman, 2013) Bibliography Cheeseman, H. (2013). Business Law (8 ed.). Pearson. Retrieved July 2014

Interpersonal Relationship Social Media Some Cases - 275 Words

Interpersonal Relationship Social Media Some Cases (Essay Sample) Content: Interpersonal RelationshipNameInstitutionsInterpersonal RelationshipIntroductionThe primary purpose of this paper to discuss whether social media hinder interpersonal relationships. In line with the above question in my own point of view, as a writer of this article, I feel that social media does hinder the interpersonal relationships. In this paper, the writer is going to present the gathered evidence upon which he uses to make the judgment that indeed social media hinder interpersonal relationship. Additionally, the writer also discovered that social media not only hinders interpersonal relationship but also it improves the relationship in some cases.To understand whether social media hinders interpersonal relationship on has to evaluate both the negative and positive sides of the social media. In some cases, it has been cited that social media improves the social relationship if only it used appropriately. However, social media has also negative effects that it bri ngs to us when its carelessly utilized. To understand the aforementioned scenarios this article will bring an insight of both effects and finally provide a conclusion.How social media creates a gap between real interaction and personal communication between people hence causing hindrance to the interpersonal relationships. To bring an insight of this the writer decided to come up with one premise;Premise 1: Social media promotes business and helps in connecting friends and family members. Although, when used excessively it hinders the interpersonal relationships.Conclusion: Impact of social media is the hindrance due to its over usage and the disconnection between personal relationships among human beings.Support of the Writer ArgumentIn line with the journal of the electronic commerce and digital relationships there exist various types of the social media websites comprising of both implicit and explicit relationships. The users of these sites have higher chances of interacting wit h one another as minded people of the social media. The users have discovered a common environment where they interact. However, its argued that the over usage of such websites possess dangerous effect to the human psyche. Therefore, absence of personal communication that has been led due to the emergence of virtual world without reality is actually destroying the interpersonal relationship that used to existsThe Counter ArgumentArguably, social media is believed to provide a platform where people can freely interact from different parts of the globe. Traders are able to negotiate their deals with other business p...

Conflict Termination Outcomes And Recurrence - 1481 Words

2. Literature Review 2.1 Conflict Termination Outcomes and Recurrence The means in which a conflict comes to an end has caught the interest of the academic community since decades ago. In the civil wars literature, there are different studies related to this topic, however most them have arrived to the same conclusion: civil wars ended by peace agreements are more likely to recur. One of the most popular exponents of the previous thesis is Edward N. Luttwak’s â€Å"Give war a chance†, where he argues that negotiated settlements produce the most unstable peace, since those instruments do not alter the organizational capacity of both parties. Luttwak (1999) notes that â€Å"an unpleasant truth, often overlooked is that although war is a great evil, it does have a great virtue: it can resolve political conflicts and lead to peace. This can happen when all belligerents become exhausted or when one wins decisively† (p.36). According to Luttwak ´s perspective in the presence of a peace agreement, the parties do not have enough incentives to reach a lasting settlement since none of them is threated by defeat or loss, instead they may be preparing for future confrontation, fact that lead to an scenario where effective policies for reconstruction and post-conflict recovery are not truly being implemented. â€Å"Uninterrupted war would certainly have caused further suffering and led to an unjust outcome from one perspective or another, but it would also have led to a more stable situation thatShow MoreRelatedThe Intervention And Peace Mechanisms1657 Words   |  7 PagesFurthermore, it has seen a rather large percentage of civil (or so-called intrastate) wars during the last 50 years - from Sierra Leone to Kenya and from Zimbabwe to Angola, the continent appeared to burn (Herbst 2000: 270). While some of these conflicts have now been curtailed, civil wars in states like Nigeria remain a multi-faceted pr oblem. 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I hope you find the strategies of use in the upcoming weeks and that you are able to achieve a favourable outcome. If you have any questions with this report please do not hesitate to contact me. Regards Mike Malcolm PR Consultant The PR Firm (09) XXX XXXX 021 XXX XXXX mikemalcolm@theprfirm.co.nz Executive Summary The following crisis management strategyRead MoreOverview of Hrm93778 Words   |  376 Pagesanalysis Job analysis continued Job analysis outcomes. Recruitment Source of recruitment Selection Selection Tests Selection process, continued Socialization Training development Maximizing learning Career management Performance Performance Appraisal Job evaluation and pricing Compensation system Benefits Role of money in performance of employee MotivationOccupation health and safety Stress management Communication in organization Trade union Conflict and Negotiation Power politics DisciplineRead MoreStephen P. Robbins Timothy A. 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In some cases, this has been the result of political instability, ethnic conflict, natural disasters or mismanagement of the economy. Whatever the reason in a given country, the lack of economic progress has put such countries in a financial bind and frequently placed severe restrictions on government services available to the

Roberta Phillip Robbins, A Youth And A Gang Violence...

Roberta Phillip-Robbins, a youth and a gang violence prevention specialist for Multnomah County declared she was running for Rep. Lew Frederick’s seat in the Oregon House representing North and Northeast Portland. Her top issues include making sure that the voices of Oregon’s underrepresented communities are better heard(Slovic, 2015). She says she wants to work hard to elevate those voices. The candidate should be responsible for representing the people. She says she has the heart for public service which she refers to the rent that one pays for the room on this earth. She was committed to running, winning and serving the residents of House District 43. By signing this document, I hereby state that I will qualify for said office if elected (Slovic, 2016). Tawna Sanchez is the director of family services at the Native American youth and family center and has served as a commissioner in a body that advises the department of human services. â€Å" I do support increasing taxes on corporations. I do not support IP 28 and have deep concerns that IP 28 will increase costs for those who can least afford it,† (Tawna Sanchez for Oregon HD-43 Facebook, n.d.). Her platform includes addressing human inequality, creating long-term affordable housing and limiting campaign contributions. Her main task will be to deal with the issue of corporate taxes and income inequality, and create long-term affordable housing by creating a responsible department. Both of the candidates have personal

Augustines confessions Essay - 1493 Words

Augustines quot;Confessionsquot; A philosophical question faces Christians, and in fact all theists, that challenges the belief in God. To theists, God is an omnipotent, perfect God. He is good. Theists accept this, and embrace it, for how else can they worship God and give their lives to Him unless He is good? However, n this world evil is constantly seen all around us. Because God is the author of all things in this world, and he is good, theists must then ask themselves what evil is and where it came from. Augustine sets up an argument I his Confessions that attempts to define evil, and in doing so he explains its existence. To follow this argument, it is important to realize that Augustine accepts some basic precepts regarding†¦show more content†¦Because we clearly see evil in the world. Did God allow it to enter? This would seem to mean either that God is not entirely good, or that he is not omniscient and all powerful. These questions Augustine does his best to answer. First, Augustine establishes a definition of evil. Originally, he believed that evil had substance. â€Å"I believed that evil, too was some similar kind of substance . . . And because such little piety as I had compelled me to believe that God, who is good, could not have created evil nature, I imagined that there were two antagonistic masses, both of which were infinite, yet the evil in a lesser and the good in a greater degree†(5.10). However, his view changes later, where he says that, â€Å"Evil is nothing but the removal of good until finally no good remains†(3.7). Under this definition, evil does exist as a substance. Instead, it is the result of a removal; of good until there is nothing left, at which time the object/person would cease to exist in a physical realm. â€Å"And evil, the origin of which I was trying to find, is not because if it were a substance, it would be good†(7.12). Augustine approaches this issue from an entirely different angle. First he says: Do we have any good evidence that God even exists? If He does, is He good? So he develops his argument from natural theology. He looks for independent evidence available to us that God is real and He is good. That is why Augustine properly starts with proofs for the existence ofShow MoreRelatedAugustine s Confessions By Augustine1137 Words   |  5 PagesIn Augustine s Confessions, Augustine tells his entire life story leading up to his conversion to Christianity. Throughout his life, he experiences a vast amount of events, both that had major impacts and minor impacts. In the Confessions, Augustine called these events â€Å"episodes. The episodes supported his transformation of who he was into who he wanted to be after his conversion to Christianity. 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Readers see this as something Augustine was struggled with, from stealing fruit to joining the Manicheans. Through all of his struggles about his faith, his mother Monnica was devoted to his conversion. In this brief paper, I will discuss who Monnica was, how she played a

The Psychological and Physiciological Effects of Guilt Essay

Abstract:nbsp;nbsp;nbsp;nbsp;nbsp;Guilt has physiological and psychological effects. The psychological effects can include something bad, such as feelings of worthlessness or inferiority. Guilt can also serve in a positive way as a motivator. A person may suffer physiological effects such as insomnia and physical pain. Discussion:nbsp;nbsp;nbsp;nbsp;nbsp;Guilt is feelings of culpability, especially for imagined offenses or from a sense of inadequacy. There are negative physiological effects caused by guilt. Guilt can make someone over responsible. They will think that life has to be perfect, and will do everything to try to please everyone. It may make someone over conscientious so that they may neglect their needs to avoid†¦show more content†¦This serves as a motivator to change. As guilt causes discomfort, it can be used as a need to change things in your life, and eliminate the guilt. For example, if someone bullied an individual, they would probably eventually realize they have wronged that person and feel guilty. The guilt would motivate the bully to change their attitude, which would lead to a better life. nbsp;nbsp;nbsp;nbsp;nbsp;Moreover, continual guilt may affect someone physiologically. Someone feeling guilty may suffer from: languidness, imagined illness, real illness, headaches, stomach disorders, and vague pains. Guilt can also cause cardiovascular strain which reduces relational intimacy and a startle response which creates feelings of alienation. It may even be a detriment to work performance because it can cause hyperarousal. A person may also feel chronically fatigued. Without apparent cause, one may experience physical aches and pain. nbsp;nbsp;nbsp;nbsp;nbsp;More seriously, guilt can keep someone from sleeping because of immoderate time spent in REM. This lack of sleep causes increased susceptibility to disease. During sleep, the body’s immune system undergoes repair. Therefore, with lack of sleep, the immune system does not have time to repair itself and is weakened. nbsp;nbsp;nbsp;nbsp;nbsp;Guilt may also immobilize you. An individual may be so overwhelmed by the fear of doing, acting, saying or

Solidarity Family and Emotional Closeness free essay sample

This view of family relations provides an important framework for understanding the roots of familism—the factors that contribute to the maintenance and/or development of loyalty within families. Emotional closeness between parents and children and its impact on the quality of the parent-child bond is explored in research into the intergenerational stake (Bengtson and Kuypers 1971; Bond and Harvey 1991) and intergenerational solidarity (Bengtson and Schrader 1982; Roberts and Bengtson 1990). For example, the intergenerational stake hypothesis explores the cross-generational nature of emotional closeness between parents and children. The hypothesis holds that: (1) parents descriptions of the relationship will be more positive than childrens; and (2) different levels of investment and development may account for these variances in relationship perceptions. The intergenerational solidarity model goes a step further, looking at emotional closeness or affect between parents and children as just one of six indicators of solidarity or integration between generations in a family. In a study examining the relationship between acculturation and family solidarity in Hispanic-American families, Julian Montoro-Rodriguez and Karl Kosloski (1998) find that for two dimensions of attitudinal familism (familial obligation and support from relatives), acculturation is positively related to familism. We will write a custom essay sample on Solidarity: Family and Emotional Closeness or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This means, contrary to assimilationist perspectives on family ties, that as Hispanic Americans become acculturated to the dominant Anglo culture, they continue to maintain and further develop loyalty to their families. That is, familism persists over time despite changes in, for example, language proficiency and preference, and ethnic origin of friends.