Question
Andrew has recently had a big win on the lottery and has decided to purchase a company. He is extremely disappointed with the result of
Andrew has recently had a big win on the lottery and has decided to purchase a company. He is extremely disappointed with the result of the contract and would like to know if there is anything that can be done about them. Contract one was with John, for the purchase of the company. During negotiations for the contract, Andrew enquired about the state of the accounts of the company, specifically, whether the company was profitable. John said this - "I'm unsure, but it is my opinion that the company is profitable. However, I will |
check the accounts in the next week, if you do not hear from me you can assume all is well". After a week, Andrew hears nothing. The contract is then signed, but when Andrew receives the accounts he is upset to find the company has not profited in the last 6 months. Would Andrew's conduct amount to a misrepresentation? If so, is it actionable, and could you ascertain what type of misrepresentation has been made? |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started