How can a promise be a lie? Answer: when the promisor never intended to perform the promise.
Promissory fraud is one of the few ways to win punitive damages for breach of contract. In some cases, it can also defeat contract defenses like the Statute of Frauds, the parole evidence rule, or even lack of consideration. But while, in many jurisdictions, promissory fraud is litigated more than mistake and impossibility combined, it is almost never taught in law schools.
Ian Ayres
William K. Townsend Professor
Yale Law School
PO Box 208215, New Haven, CT 06520
203.432.7101 (o), 203.432.4769 (fax), 203.624.5654
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ian.ayres@yale.edu
www.ianayres.com
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