the case of misrepresentation since they serve the same purpose. However‚ they vary in both theory and practice. There are numerous perceptible differences that need to be described which include variation in definition and application of misrepresentation and cancellation of a contract. To start with‚ the term misrepresentation is defined by the UAE law differently than the English law. According to article 185 of the Civil Code‚ UAE defines misrepresentation as “Misrepresentation is when one
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Misrepresentation A false statement made to induce a party to enter into a contract. Misprepresentation -- if proved -- renders a contract voidable (see: VoidableContract). Three (perhaps four) factors must be established to succeed in a claim of mispresentation. (i) there must be an unambiguous false statement of existing fact (or perhaps law); (ii) it must be addressed to the party misled; (iii) it must induce the contract; (iv) (perhaps) it must be material‚ that is‚ one which would induce a
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OPTIONAL QUESTION: Advise: (A) Mr. Neft given that Mr Browne has failed to appoint him to Chief of Police. The first issue is whether the contract between John Browne and Mr. Neft was illegal by common law. At common law an illegal contract is determined based on public policy and results in the contract being unenforceable. In the case of Enderby Town FC Ltd v Football Association‚ Lord Denning referred to public policy as an ‘unruly horse’‚ due to its broad character and its subjectivity to
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Misrepresentation Misrepresentation is a concept in contract law referring to a false statement of fact made by one party to another party‚ which has the effect of inducing that party into the contract. For example‚ under certain circumstances‚ false statements or promises made by a seller of goods regarding the quality or nature of the product that the seller has may constitute misrepresentation. A finding of misrepresentation allows for a remedy of rescission and sometimes damages depending on
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CHAPTER EIGHT MISREPRESENTATION A misrepresentation is an untrue statement‚ which induces the other party to enter into the contract. A misrepresentation may be fraudulent‚ negligent misstatement‚ or wholly innocent. The applicable remedy depends on the nature of the misrepresentation. In order for a representation to amount to an actionable misrepresentation it must be: a) false; b) one of fact as oppose to intention‚ opinion‚ or law; c) The statement must be addressed to the party who
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In brief: Mistake vs Misrepresentation • A mistake is inadvertent and only an error on the part of the person committing it while misrepresentation is often wilful or intentional‚ done with the intention of gaining wrongfully. The main difference between Mistake and Misrepresentation is that in the case of Mistake one or both parties to a contract or what was intended to be a contract unintentionally or unknowingly made statements not intended to mislead the other. Therefore fraud cannot be
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regarding the purchase of a sandwich shop‚ it seems that the most likely action is that of misrepresentation. A misrepresentation is defined at common law as "a statement of fact made by one party to the other party‚ which is false. While not necessarily forming a term of the contract‚ is yet one of the main reasons which induces the one party to enter into the contract" and is supported by the Misrepresentation Act 1967. From the facts of the case according to Grab‚ it seems that he is unhappy about
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An International Multi-Disciplinary Journal‚ Ethiopia Vol. 4 (3b) July‚ 2010 ISSN 1994-9057 (Print) ISSN 2070-0083 (Online) Fraud and Fraudulent Practices in Nigeria Banking Industry (Pp. 240-256) Owolabi‚ S. A. - Accounting Department‚ Babcock University‚ Nigeria E-mail: emilagab05@yahoo.com Abstract The paper reviews the various forms of fraudulent practice their impact and inducement for various reforms in banking industry. It also mentions various legislations targeted at reducing fraud and
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“The Selective Financial Misrepresentation Hypothesis” By Lawrence Revsine The selective misrepresentation hypothesis states that management has learned that they can manipulate the perception of their entity’s financial position. This is due‚ in part‚ to the increasing complexities of business which means that financial reporting is no longer based on direct observation of events but rather on summaries of these events. Additionally‚ financial reporting standards are often “arbitrary‚ complicated
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does not amount to misrepresentation‚ how if‚ it is to a known defects? Discuss by using case law to support your answer. Misrepresentation is defined as a false statement of existing facts or laws‚ which materially induces the misled party to enter into the contract. This is a pre-contractual statement‚ which is not part of the contract. However‚ these non-contractual statements can be classified as mere puffs (sales talk) or misrepresentations. For a misrepresentation to be actionable‚ the
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