Contract Law

Posted by admin on April 11, 2009 under Contracts | Be the First to Comment

Attorneys are frequently involved in hammering out the terms of a contract, safeguarding their clients’ interests and assuring them as much advantage as possible when the contract is executed.  The attorneys for both parties look for loopholes that would allow the other party to end or violate the contract to the detriment of his or her client while providing every option possible if the client should want to terminate or change the contract.  Good legal counsel can save an individual or a corporation from being taken advantage of by the other party while also saving them many times the price of their fee.

However, contracts can be legally broken when the right circumstances are met.  Misrepresentation, which involve falsifying facts to induce a party to enter into a contract, is one criterion for voiding a contract, as is of fraud.  There are two types of fraud, fraud in factum and fraud in inducement.  The former determines if a party was actually aware that they were entering a contract.  If not, there was no meeting of minds and the contract is considered to have never existed.  The latter refers to leading a party to sign a contract through misrepresentation of facts that, were they aware of the truth, they would never consider such an agreement.
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