Concepts Definitions
Concepts with question:
Contractual Consent: The mutual agreement or “meeting of the minds” between parties in a contract, which is vitiated by fraud, misrepresentation, or duress.
Misrepresentation: An untrue or misleading statement, whether intentional or unintentional.
Actual Fraud: Deliberate deceit or misrepresentation of a material fact, made with the intent to deceive, which is knowingly false.
Material Fact: A fact that is significant to a transaction, without which a contract might not have been agreed upon.
Reliance: The act of an aggrieved party trusting and acting upon a misrepresentation, leading them to enter a contract.
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