Final answer:
Misrepresentations by third parties not part of a contract may make the contract voidable if they induce one party into the contract. The FTC checks factual claims about products, but buyers should still be cautious (Caveat emptor). Remedies may include rescinding the contract or seeking damages, depending on the circumstances.
Step-by-step explanation:
The general rule for misrepresentations by third parties not part of the contract is that if the misrepresentation has induced the entry into the contract, it may render the contract voidable by the misled party. In practice, misrepresentation by third parties can affect the validity of a contract if the misrepresentation led one of the parties to enter into that contract under false pretenses. The misled party might be able to rescind the contract, or, in some cases, seek damages, although it often depends on the specifics of the law and the nature of the misrepresentation.
For example, consumer protection law, such as that enforced by the Federal Trade Commission (FTC), often checks factual claims about a product's performance. However, the old Latin saying Caveat emptor—"let the buyer beware"—still holds some sway in the sense that buyers should exercise due diligence when entering into contracts. In cases where third-party misrepresentations occur, it is important to establish that the misrepresentation was material and that it was relied upon by the other party to their detriment.