Vitiating Factors: Mistake and Undue Influence

Introduction to Business Law

English - April 19, 2013 02:56 - 19 minutes - 11.3 MB
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Previous Episode: Introduction to Vitiating Factors and Duress

Next Episode: Vitiating Factors: Unconscionable Conduct

The lectures this week focus on factors that destroy the consent of a party to a contract and discharge. Consent is essential to contract formation as there is a need for consensus ad idem or a meeting of the minds of the parties. Where a party is coerced to consent to a contract, does the law view that consent as valid? Will the consent be of such a quality that will create a valid contract between the parties? The answers to these questions are considered.

In addition, circumstances under which parties are discharged from their obligations under a contract are also discussed. Where a valid contract exists, the law requires that the parties must perform their obligations, so the topic (Discharge) focuses on how obligations are performed and how are parties are discharged from performance.