Misrepresentation is a false statement made by one party that has the effect of inducing another party into an agreement. For example, during negotiation a salesperson claims that their solution will allow users to clock on using any smart phone. The buyer relies upon that statement and selects the system, but in practice the system doesn’t work as it recognises only certain smart phones. The buyer can ask for the contract to be set aside or claim damages. See also Puffery.
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With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
