that is reasonably relied on by theother who is injured thereby.Fraud always has malicious intent. Misrepresentation may not havemalicious intent to deceive if ithappens negligently through amisstatement and/or omission of amaterial fact(s).Types of fraud are:Fraud is fraud until you get into a legalissue. Then there are differences butthere is only one type of fraud inrealty.Types of misrepresentation are:
Q 2: What are the remedies for breach of contract?
Businesses both individual and corporate enter into business relationships witheither individuals or businesses to enable them to carry on their day-to-day
commercial transactions. Most of these relationships result in “contracts” that have
legal consequences. Most contracts do not have to be in writing to be enforceable.
Definition of a Contract:
A contract is a legally enforceable agreement between two or more parties. Thecore of most contracts is a set of mutual promises (in legal terminology,
“consideration”). The promises made by the parties define the rights and
obligations of the parties. For every contract there must be an agreement. Anagreement is defined as every promise and every set of promises forming theconsideration for each other and a promise is an accepted proposal. Contracts areenforceable in the courts. If one party meets its contractual obligations and theo
ther party doesn’t (“breaches the contract”), the non
-breaching party is entitled toreceive relief through the courts.Generally, the non-
breaching party’s remedy for breach of contract is monetary
damages that will put the non-breaching party in the position it would have enjoyedif the contract had been performed. Under special circumstances, a court will orderthe breaching party to perform its contractual obligations. Because contracts areenforceable, parties who enter into contracts can rely on contracts in structuringtheir business relationships.