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Rescind
In contract law, rescission is an equitable remedy which allows a contractual party to cancel the contract. Parties may rescind if they are the victims of a vitiating factor, such as misrepresentation, mistake, duress, or undue influence. Rescission is the unwinding of a transaction. This is done to bring the parties, as far as possible, back to the position in which they were before they entered into a contract (the '' status quo ante''). Taxonomy Rescission is used throughout the law in a number of different senses. The failure to draw these crucial distinctions is productive of serious confusion. Although Judicature legislation has been enacted throughout the common law world, and jurisdictions vary in their recognition of a distinct body of law known as equity, reference to the jurisdictional origins is still important for the purposes of exposition. * ''"Rescission" in the sense of termination''. Rescission in this sense is not the focus of this article. Where a contrac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misrepresentation In English Law
In common law jurisdictions, a misrepresentation is a false or misleading '' R v Kylsant'' 931/ref> statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. The misled party may normally rescind the contract, and sometimes may be awarded damages as well (or instead of rescission). The law of misrepresentation is an amalgam of contract and tort; and its sources are common law, equity and statute. In England and Wales, the common law was amended by the Misrepresentation Act 1967. The general principle of misrepresentation has been adopted by the United States and other former British colonies, e.g. India. Representation and contract terms A "representation" is a pre-contractual statement made during negotiations. If a representation has been incorporated into the contract as a term, then the normal remedies for breach of contract apply. Factors that determine whether or not a representation has beco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misrepresentation
In common law jurisdictions, a misrepresentation is a false or misleading '' R v Kylsant'' 931/ref> statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. The misled party may normally rescind the contract, and sometimes may be awarded damages as well (or instead of rescission). The law of misrepresentation is an amalgam of contract and tort; and its sources are common law, equity and statute. In England and Wales, the common law was amended by the Misrepresentation Act 1967. The general principle of misrepresentation has been adopted by the United States and other former British colonies, e.g. India. Representation and contract terms A "representation" is a pre-contractual statement made during negotiations. If a representation has been incorporated into the contract as a term, then the normal remedies for breach of contract apply. Factors that determine whether or not a representation has beco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Law
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the min ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assurant
Assurant, Inc. is a global provider of risk management products and services with headquarters in New York City. Its businesses provide a diverse set of specialty, niche-market insurance products in the property, casualty, extended device protection, and preneed insurance sectors. The company’s main operating segments are Global Housing and Global Lifestyle. The company, formerly known as Fortis, Inc., was spun off from Dutch and Belgian financial-services company Fortis Insurance N.V. in 2004. The company’s initial public offering on Feb. 5, 2004 at $1.76 billion was the fourth largest that year. In connection with the public offering, the company changed its name to Assurant, Inc. Assurant is 325 on the Fortune 500 list of the largest companies in the United States by revenue as of 2022. History Assurant can trace its roots back to the founding of the La Crosse Mutual Aid Association, which was established to sell disability insurance in Wisconsin in the early 1890s. L ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anthem (company)
Elevance Health, Inc. is an American health insurance provider. The company's services include medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans through affiliated companies such as Anthem Blue Cross and Blue Shield, Empire BlueCross BlueShield in New York State, Anthem Blue Cross in California, Wellpoint, and Carelon. It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association. As of 2022, the company had 46.8 million members within their affiliated companies' health plans. Prior to June 2022, Elevance Health was named Anthem, Inc. Based on its 2021 revenues, the company ranked 20th on the 2022 Fortune 500. History Anthem In 1946, Anthem began in Indianapolis, Indiana, as Mutual Hospital Insurance Inc. and Mutual Medical Insurance Inc. The companies grew significantly, controlling 80% of the medical insurance market in Indiana by the 1970s. In 1972, The two firms, then known as Blue Cross of Indian ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Patient Protection And Affordable Care Act
The Affordable Care Act (ACA), formally known as the Patient Protection and Affordable Care Act and colloquially known as Obamacare, is a landmark U.S. federal statute enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010. Together with the Health Care and Education Reconciliation Act of 2010 amendment, it represents the U.S. healthcare system's most significant regulatory overhaul and expansion of coverage since the enactment of Medicare and Medicaid in 1965. The ACA's major provisions came into force in 2014. By 2016, the uninsured share of the population had roughly halved, with estimates ranging from 20 to 24 million additional people covered. The law also enacted a host of delivery system reforms intended to constrain healthcare costs and improve quality. After it went into effect, increases in overall healthcare spending slowed, including premiums for employer-based insurance plans. The increased coverage was due ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Remedy
A legal remedy, also referred to as judicial relief or a judicial remedy, is the means with which a court of law, usually in the exercise of civil law jurisdiction, enforces a right, imposes a penalty, or makes another court order to impose its will in order to compensate for the harm of a wrongful act inflicted upon an individual. In common law jurisdictions and mixed civil-common law jurisdictions, the law of remedies distinguishes between a legal remedy (e.g. a specific amount of monetary damages) and an equitable remedy (e.g. injunctive relief or specific performance). Another type of remedy available in these systems is declaratory relief, where a court determines the rights of the parties to action without awarding damages or ordering equitable relief. The type of legal remedies to be applied in specific cases depend on the nature of the wrongful act and its liability. In the legal system of the United States, there exists a traditional form of judicial remedies that serve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiduciary
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trust ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2009 US Healthcare Debate
The healthcare reform debate in the United States has been a political issue focusing upon increasing medical coverage, decreasing costs, insurance reform, and the philosophy of its provision, funding, and government involvement. Details During the presidency of Barack Obama, who campaigned heavily on accomplishing health care reform, the Patient Protection and Affordable Care Act (PPACA) was enacted in March 2010. In the next administration, President Trump said the healthcare system should work based on free market principles. He endorsed a seven-point plan for healthcare reform: * repeal Obamacare * reduce barriers to the interstate sale of health insurance * institute a full tax deduction for insurance premium payments for individuals * make Health Saving Accounts inheritable * require price transparency * block-grant Medicaid to the states * allow for more overseas drug providers through lowered regulatory barriers He also suggested that enforcing immigration laws co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Long V Lloyd
''Long v Lloyd'' 9581 WLR 753 is an English contract law case concerning misrepresentation. It exemplifies that if a contract is affirmed by the party who has been misrepresented, rescission will be barred. Facts Lloyd advertised a lorry as being in ‘exceptional condition’. Mr Long went to Mr Lloyd's premises to see it. Mr Lloyd then said it could do 40 mph. On a trial run from Hampton Court to Sevenoaks, he said it did 11 miles to the gallon. Mr Long bought it for £750. Two days later, driving to Rochester and back the dynamo stopped working, the oil seal was defective, there was a crack in the wheel and it did only five miles to the gallon. Mr Lloyd then said he would repair for half price of a reconstructed dynamo. Mr Long accepted. Then on another journey, being used by his brother on a business trip to Middlesbrough, it broke down. Mr Long sued to rescind. Judgment Pearce LJ held that the contract had been affirmed when it was taken back after having been fixed. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mistake (contract Law)
In contract law, a mistake is an erroneous belief, ''at contracting'', that certain facts are true. It can be argued as a defense, and if raised successfully, can lead to the agreement in question being found void ''ab initio'' or voidable, or alternatively, an equitable remedy may be provided by the courts. Common law has identified three different types of mistake in contract: the 'unilateral mistake', the 'mutual mistake', and the 'common mistake'. The distinction between the 'common mistake' and the 'mutual mistake' is important. Another breakdown in contract law divides mistakes into four traditional categories: unilateral mistake, mutual mistake, mistranscription, and misunderstanding. The law of mistake in any given contract is governed by the law governing the contract. The law from country to country can differ significantly. For instance, contracts entered into under a relevant mistake have not been voidable in English law since ''Great Peace Shipping Ltd v Tsavliris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Certainty
Legal certainty is a principle in national and international law which holds that the law must provide those subject to it with the ability to regulate their conduct. The legal system needs to permit those subject to the law to regulate their conduct with certainty and to protect those subject to the law from arbitrary use of state power. Legal certainty represents a requirement that decisions be made according to legal rules, i.e. be lawful. The concept of legal certainty may be strongly linked to that of individual autonomy in national jurisprudence. The degree to which the concept of legal certainty is incorporated into law varies depending on national jurisprudence. However, legal certainty frequently serves as the central principle for the development of legal methods by which law is made, interpreted and applied. Legal certainty is an established legal concept both in the civil law legal systems and common law legal systems. In the civil law tradition, legal certainty is def ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
