Business Law

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Recommended: Main principles of contract law

It is a question concern the law of contracts in particular, the law of misrepresentation.
It is my objective to identify the difficult concept of different kind of misrepresentation and analyze why it is problematic.
Misrepresentation is a false statement designed to encourage the other party to enter a contract. To prove a statement to be a misrepresentation, 7 essential conditions must be satisfied:
1. A statement must be made by word or conduct.
2. The statement must be factual.
3. The statement must be false.
4. The offeree must have reasonable relied on the statement.
5. The offeree must have been misled by the statement.
6. The statement must be material to the contract.
7. The statement must be a factor in including the offeree to enter a contract.
In the law of misrepresentation, there are three kinds of misrepresentation.
Fraudulent misrepresentation can be illustrated by Polaroid Far East Ltd. v Bel Trade Co. Ltd. (1990), where BTC, who was offered a special discount price by promising not export or re-export their product, re-exported PFEL¡¦s films to North America and Europe. It was held that BTC had devised a deliberate scheme to buy film at a lower price and to re-export it, and were liable for fraudulent misrepresentation. Fraudulent misrepresentation simply ...

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