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14 Cards in this Set
- Front
- Back
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contract damages are intended to be compensitory and not punitive, explain
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In a contract action a court is attempting to place the injured party in the same position that he would have been had the contract been completed. In a contract action the court has no authority to punish the defendent.
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In a contract acction the plantif has the burden of prof, what must the plantif show to be succesful?
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In order to satisfy the burden of proof, the plantif must show the following.
1)existance of a contract 2)that the contract has been breached 3)what the damages are |
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In a contract action an injured party must minigate his lawses, explain minigation and give an example.
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minigation means to lesson the amount of damages and this obligation falls upon the injured party. EX) if a seller is selling somthing that is parishable which is rejected by the buyer, the seller must make an attempt to preserve what would otherwise spoil.
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Define remity of specific performance and explain when specific performance is available.
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specific order is an order from a court which orders a person to complete a contract in the manner agreed. It is only available if the plantif can show that money damages will not compensate.
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What is a liqudated clause in such a clause affordable
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A liqudated damage clause in a contract refers to a contract in which the parties agree as to what the damages will be if the contract is breched. Such a prevision is enforceable if it is reasonable and does not constitute a penelty.
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A case of hadley vs. beck sendale decided in 1854 (in england) established the authority for consiquentional damages, define "con dam."
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"con dam" are the damages which occurs as a result of a breach which are forseeable by both parties at the time the contract is made.
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Distinguish between a bilateral contract and a unlateralcontract
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Bilateral contains an exchange of promises between 2 people where as a unlateral contract contains someone to act or performe
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distingush between void contract and voidable contract
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void-a contract that is total uninforceable from its beginning (nothing really there)
voidable is one which one person is obligated and one perosn has the right to withdraw from a contract. |
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Distinguish between an express contract and implied contract
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express- one that is stated verbal/written
Implied-when a person recieves a beenfit and understand that payment is expected |
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distinguish between an exutory contract and executed
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executory performance is no performance by either party
executed means both parties have performed and the contract as a result is discharged. |
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Denfine a quasi contract and give an example
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Quasi means that a contract obligation is created bya court where there is no promise but a person has recieved a benefit and a court feels that the person shoudl pay for the benefits. The estate of mr lee was obligated to pay for the benefits he recieved even though he promised he wasnt gonna pay.
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What is an offer in terms of offer and acceptance?
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An offer displays an intent to be bound which if agreed to results in a contract
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Briefly explain the nature of advertising in offer and acceptance
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Historically hte courts throughout the us have interpreted advertising as invotational in nature. This means that the advertisment invites the reader to make an offer which then would become a contract when the advitisior accepts the offer
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To avoid the loss of good will what may an advitisor do if the demand exceeds his supply
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to avoid the loss of good goodwill they may do the following
1)issuse a raincheck 2)allow a subsitution 3)Printing a retraction 4)trying to locate the item by looking elsewhere |
