What Is An Agreement Contract Law

Examples where damages of trust have been awarded because the profits are too speculative are the Australian case McRae v Commonwealth Disposals Commission,[106] which concerned a contract for the rights to rescue a ship. In the case of Anglia Television Ltd v. Reed,[138] the claimant was awarded pre-contract expenses to prepare for service. There are two types of misrepresentation: factum fraud and solicitation fraud. Factum fraud aims to determine whether the party claiming a false statement knew they were creating a contract. If the party did not know that he was entering into a contract, there is no meeting of the chiefs and the contract is invalid. Fraud in the application focuses on false statements that attempt to induce the party to enter into the contract.