MISTAKE OF LAW Sample Clauses

MISTAKE OF LAW. That which arises from an ignorance of some provisions of law, or from an erroneous interpretation of its meaning, or from an erroneous conclusion as to the legal effect of an agreement, on the part of one of the parties (De Xxxx, 564). General Rule Mistake of law will not vitiate consent. Ignorantia legis non excusat.
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MISTAKE OF LAW.  In some states, when the mutual mistake is about the applicable law, the contract is still valid.  Example: if both parties to a sale of land mistakenly believe that local zoning laws permit construction of duplexes on the lot, the contract would be valid though there was a mutual mistake. This is because all persons are presumed to know the law.  In other states, unilateral mistakes generally have no effect upon the contractual rights of the parties.  In other states, mutual mistakes create the right to rescind or void the contract. WHAT IS MISREPRESENTATION?  In many contract negotiations, the parties make statements that turn out to be untrue.  innocent misrepresentationa party to a contract does not know that a statement he or she made is untrue. the contract is voidable.  Example: When selling a car, the seller might say that the car has 70,000 miles on it when it actually has 150,000 miles. The seller didn’t know the true mileage because a prior owner replaced the odometer.  fraudulent misrepresentationa party to a contract knows that a statement he or she made is untrue. the contract is voidable.  Example: The seller of a car knew that the car had 150,000 miles on it, but told the buyer it had 50,000 miles.  Statements are treated as misrepresentations only if:
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MISTAKE OF LAW. As to existence One or both contracting parties believe that a fact exists when in reality it does not or vice versa; One or both contracting parties arrive at an erroneous conclusion regarding the interpretation of a question of law or legal effects of a certain act or transaction;
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MISTAKE OF LAW. That which arises from an ignorance of some provisions of law, or from an erroneous interpretation of its meaning, or from an erroneous conclusion as to the legal effect of an agreement, on the part of one of the parties (De Xxxx, 564).
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Related to MISTAKE OF LAW

  • Conflict of Law In the event that any of the terms or conditions of this Agreement are contrary to or unenforceable by reason of any law or governmental decision, ruling or regulation, such terms or conditions shall be deemed to be severed from this Agreement, and the illegality or unenforceability thereof shall not in any manner affect or impair any other terms or conditions of this Agreement.

  • Application of Law The Lessee shall comply with all laws, ordinances, regulations, and other legal requirements affecting the Premises and the use thereof, and the Lessee shall indemnify, defend, and hold the Lessor harmless from expense or damage resulting from failure to do so.

  • Change of Law In this Agreement, unless the context otherwise requires, references to a statutory provision include references to that statutory provision as from time to time amended, extended or re- enacted and any regulations made under it, provided that in the event that the amendment, extension or re-enactment of any statutory provision or introduction of any new statutory provision has a material impact on the obligations of either Party, the Parties will negotiate in good faith to agree such amendments to this Agreement as may be appropriate in the circumstances. If, within a reasonable period of time, the Supplier/Service Provider and Transnet cannot reach agreement on the nature of the changes required or on modification of Prices, delivery schedules, warranties, or other terms and conditions, either Party may seek to have the matter determined in accordance with clause 32 [Dispute Resolution] above.

  • Choice of Law The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California.

  • Violation of Law No change shall have occurred after the date of this Agreement in any applicable Law that makes it a violation of Law for (a) Owner, any Applicable Pass Through Trustee, Subordination Agent or Mortgagee to execute, deliver and perform the Operative Agreements to which any of them is a party or (b) any Applicable Pass Through Trustee to make the loan contemplated by Section 2.1, to acquire an Equipment Note or to realize the benefits of the security afforded by the Trust Indenture.

  • Conflict of Laws The provisions of this Agreement shall be subject to all applicable statutes, laws, rules and regulations, including, without limitation, the applicable provisions of the ICA and rules and regulations promulgated thereunder. To the extent that any provision contained herein conflicts with any such applicable provision of law or regulation, the latter shall control. The terms and provisions of this Agreement shall be interpreted and defined in a manner consistent with the provisions and definitions of the ICA. If any provision of this Agreement shall be held or made invalid by a court decision, statute, rule or otherwise, the remainder of this Agreement shall continue in full force and effect and shall not be affected by such invalidity.

  • Jurisdiction of Law The laws of the State of Minnesota shall govern the validity, construction and effect of this contract, unless said laws are superseded by, or in conflict with applicable federal laws and/or federal regulations. This contract will be binding upon the parties, their heirs, beneficiaries, and devisees of the parties hereto. The parties agree that Hennepin County, Minnesota is the appropriate forum for any action relating to this contract. This contract may be signed in counterparts.

  • Forum and Choice of Law The parties deem the Contract to have been made in the City of Hartford, State of Connecticut. Both parties agree that it is fair and reasonable for the validity and construction of the Contract to be, and it shall be, governed by the laws and court decisions of the State of Connecticut, without giving effect to its principles of conflicts of laws. To the extent that any immunities provided by Federal law or the laws of the State of Connecticut do not bar an action against the State, and to the extent that these courts are courts of competent jurisdiction, for the purpose of venue, the complaint shall be made returnable to the Judicial District of Hartford only or shall be brought in the United States District Court for the District of Connecticut only, and shall not be transferred to any other court, provided, however, that nothing here constitutes a waiver or compromise of the sovereign immunity of the State of Connecticut. The Contractor waives any objection which it may now have or will have to the laying of venue of any Claims in any forum and further irrevocably submits to such jurisdiction in any suit, action or proceeding.

  • Venue and Choice of Law In the event of litigation concerning this agreement, venue shall be in the First Judicial District, Xxxxx and Xxxxx County, Montana, and this agreement shall be governed by the laws of the State of Montana both as to interpretation and performance.

  • VIOLATIONS OF LAW (1) The Board shall immediately take all necessary steps to ensure that Bank management corrects each violation of law, rule or regulation cited in the XXX and in any subsequent Report of Examination. The quarterly progress reports required by Article II of this Agreement shall include the date and manner in which each correction has been effected during that reporting period.

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