Submind YouTube summaries
Thumbnail for Contractual Defects:  Part A - Absence of Writing, Misrepresentation

Contractual Defects: Part A - Absence of Writing, Misrepresentation

Watch on YouTube

Video summary

The video introduces the concept of contractual defects, explaining that even when a contract possesses the three essential elements of an agreement, consideration, and intention to create legal relations, it may still be invalid due to specific flaws. The presenter outlines that these defects can render a contract either void, meaning it never legally existed, or voidable, meaning it was valid but can be cancelled by the innocent party, who would then be required to return any goods or benefits received. In this series, the focus is placed on several key types of defects, including the absence of writing, misrepresentation, duress, undue influence, and unconscionability, with the first topic being the requirement for written contracts. Contrary to common belief, a contract does not generally need to be in writing to be valid, though doing so is considered good practice as it provides proof of the agreement and ensures certainty regarding its terms. However, specific exceptions exist under legislation such as the Statute of Frauds, which mandates that certain contracts must be written to be enforceable. These include agreements involving the sale of land, guarantees of debt, contracts not to be performed within a year, and agreements made in consideration of marriage. Additionally, consumer protection laws require written contracts for online sales over fifty dollars and direct sales, such as door-to-door transactions, exceeding one hundred dollars, ensuring that consumers receive proper documentation before purchasing goods or services from businesses. The discussion then shifts to misrepresentation, defined as a false statement of past or existing fact that was intended to induce the other party into entering the contract, making it voidable at the option of the innocent party. A crucial distinction is drawn between statements of fact and statements of opinion; while a false statement of fact can constitute a misrepresentation, an inaccurate opinion generally cannot unless expressed by an expert whose judgment carries factual weight. The video illustrates this difference using examples from a negotiation between Sonia and Ahmed regarding the sale of a laptop, categorizing specific claims like the manufacturing year and battery replacement date as facts, while describing the laptop's lightness or status as the best on the market as opinions. Finally, the transcript clarifies that even statements presented as opinions can be treated as facts if they originate from an expert in their field, such as an IT professional declaring a computer is in excellent condition. In contrast, a non-expert making similar claims would likely be viewed as offering an opinion rather than stating a fact. By analyzing various statements made during the laptop negotiation, the video demonstrates how to distinguish between factual assertions that could lead to misrepresentation and subjective judgments or beliefs that do not carry the same legal implications, thereby helping viewers understand the boundaries of what constitutes a valid contractual statement versus a misleading one.
Read the full video transcript
This is Whan Chow and welcome to contractal defects part A on absence of writing and misrepresentation. Sometimes we could have a valid contract that has been formed with the three essential elements which which are an agreement formed by offer and acceptance, an exchange of consideration and intention to form legal relations. So even though we have those essential elements which form a contract, we still may have an invalid contract due to a contractual defect. So in this series of videos, we will examine a number of different types of contractual defects. We won't examine every type of contractual defect out there, but we will examine specifically the absence of of writing, misrepresentation, duress, undo influence, and unconscionability in the following slides and and videos. Now when we do have a contractual defect the what may happen though the consequence of that is that the contract can be said to be either void or voidable. So when it's when a certain defect causes a contract to be v void it means that the contract was never created. If it's only voidable, it means the contract was created and it is valid. But it because of the defect, it can be cancelled by one of the parties. And if if it is canceled, then any goods or benefits received need to be returned. The first contractual defect that we will look at is called the absence of writing. Contrary to popular belief, it is not a general requirement that a contract needs to be in writing. However, having a contract in writing is a matter of good practice. It's something that is a good thing to do. It ensures that you have proof that a contract was entered into in case there is a dispute and also it gives some certainty between the two parties as to what the terms are on a contract. There are exceptions to the rule that a written contract is not needed. There are some specific types of contracts that do have to be in writing in order for that contract to be valid. There's a piece of old legislation that's still valid in most of the provinces, I think in every province actually, including Nova Scotia, called the Statute of Frauds. It requires a number of different types of contracts to be in writing. The most notable one is any contract relating to a sale of an interest in land. If you have a deal to sell real estate, it cannot be done merely on a handshake. There has to be a written contract. Similarly, uh contracts for the guarantee of debt has to be in writing. Contracts not to be performed within a year also have to be in writing as well as agreements in consideration of marriage also have to be in writing in order to be valid. There are other contracts that also need to be in writing and this is under legislation called the consumer protection act. This only applies to contracts involving a business with a consumer. internet contracts, you know, online, you know, online sales. In other words, any sale over $50 has to have a written contract as well. Direct sales that involve purchases over $100 also have to have a written contract provided to the consumer. Direct sales typically uh would be what we would call, you know, door-to-door sales. when the salesperson comes to your doorstep to try to, you know, sell you, you know, a vacuum cleaner or some other good or service. So, those sales, anything over $100, a written contract has to be provided to the consumer. Quite often there are many things said in the negotiations between parties that lead up to a contract and sometimes something is said that turns out to be untrue and one of the parties the other party h relies on that untrue statement in deciding to enter into the contract. So this this describes a contractual defect called misrepresentation. The definition of misrepresentation is it's broken up into f four parts. A false or untrue positive statement of a past or existing fact that was intended to and actually did induce the creation of a contract. A misrepresentation makes a contract voidable at the option of the innocent party. In determining whether or not a misrepresentation has occurred, we need to discern what is a statement of fact versus what is a statement of opinion. A statement of fact can be a misrepresentation if that statement turns out to be false. A statement of opinion, however, cannot be a misrepresentation even if that opinion is either false or inaccurate or just wrong. An opinion is considered to be a statement of a belief or a judgment. There are sometimes uh instances where a statement of opinion where it's stated by an expert may be considered to be a statement of fact. Let's revisit our friends Sonia and Ahmed. Remember Sonia and Ahmed had reached an agreement for Sonia to sell her Apple laptop to Ahmed for $700. In trying to convince Ahmed to buy to buy the laptop, Sonia had made a number of different statements that Ahmed relied upon in making his decision to buy the laptop. Let's look at these different statements and see if they are considered to be statements of fact or statements of opinion. The first statement, this laptop was manufactured in 2021. So that is a statement of fact. The battery was replaced last month. Another statement of fact, this laptop feels very light and portable. That's more of a statement of of opinion. It's a it's based on Sonia's belief and judgment about the lightness and portability of of the laptop. The next statement Sonia is saying, "As an IT professional, I can tell you that this computer is in excellent condition." So that potentially could be said to be a statement of fact. Sonia in this instance is an expert as an IT professional. In her expert opinion, the computer is in excellent condition. If that was said just by a normal person who's not an IT professional, that would likely be considered a statement of opinion. But because it comes from an expert, it can be said to be a statement of fact. The next statement, the hard drive has 500 gigs of storage. Another statement of fact, I think it's the best laptop on the market. So the So that's more of a statement of opinion. And the last statement, it's an awesome computer. Another statement of opinion.