Fraud An Example Of A False Statement Of Facts,...

Fraud in a contract occurs in three situations, false statement of facts, affirmative act , or silence. An example of a false statement could be if a contractor decides to knowingly overbilled a client or bill someone for work that was not done. If someone were to pay to have a new roof put on their house and the contractor put on cheap shingles and charged for the most expensive shingles this would be fraud under false statements.An affirmative act in contract fraud comes from trying to knowingly cover something up or misrepresent during the making of a contract. An example of an affirmative act would be when a person is selling a house and they know there is water damage in the basement, if they try to cover the damage up with paint or a carpet and not tell the buyer about it that would be fraud. The last type of contract fraud is silence. Silence fraud is when the seller fails to disclose information to the buyer. An example of silent contract fraud would be if a person is sell ing a car, the seller does not tell the buyer that they used special oil in the engine to make it sound better, but the oil is damaging and cannot be used long term. B) Minor’s Right in a Contract to Disaffirm Minors are people who are under the age of 18 and they have special rights when it comes to contract law. The general rule when it comes to minors in contract law is that any contract is voidable at the option of the minor, in comparison to an adult who is always bound by the contract. TheShow MoreRelatedBusiness Law5479 Words   |  22 Pagesdefined:- Section 13 of the contract act 1872 defines the term ‘consent’ and lays down that â€Å"Two or more person are said to consent when they agree upon the same thing in the same sense† . Thus, consent involves identity of minds or consensus ad-idem i.e., agreeing upon the same thing in the same sense. 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