Framing the Interview: The Basics of Contract Law
Before I begin the discussion related to contract law and the legal expert that I chose for this assignment, we must first define a few terms that helped guide the questions that I formulated for the interview. Moreover, these definitions and subsequent paragraphs will act as a conceptual lens to frame the discussion of contract law. While some of this information in this section can be found in year one of law school curriculum, this information is important to review in context to the paper and for my interview preparation. Therefore, this paper will start with a definition of a contract. “A contract is a promise or a set of promises for the breach of which the law gives a remedy, or the …show more content…
First, contracts always involve more than one party and the aim of the contract is to determine the “will” or “intent” of each party (Barnett,2010). The second concern of contract law is protecting the commitment or the “reliance” of each party (Barnett, 2010). Third aim of a contract is to increase the likelihood that the contract is value enhancing for all members (Barnett, 2010). However, while these are the core concerns of contracts, these goals cannot always be fulfilled (Barnett, 2010). Moreover, different sources inform the area of contract law, these sources include; legal cases, Restatement 2nd, and the Uniform Commercial Code …show more content…
Money damages involves one party owing another party some amount of money. Injunctive relief, is a court order that a “party must refrain from performing a certain act or face possible contempt charges” (Barnett,2010). However, when money damages are claimed two questions arise; how much money is owed and what are limitations on the availability of money damages (Barnett,2010). To answer this question, three different measures are often employed; expectation, reliance, and reinstitution (Barnett,2010). Expectation is the amount of money it would take to put the victim in a place similar to one in which the contract had been performed (Barnett,2010). Reliance, is the amount of money it would take to put the victim in a similar place had the contract not been created (Barnett,2010). Restitution, this involves putting the breaching party in a position similar to one had the contract not been made, or “discourage” any benefits the breaching party received (Barnett,2010). Damages will be awarded by a court based on the expectation measure unless one of the three limitations on damages applies; foreseeability, certainty, and avoidability (Barnett,2010). Attorneys, often use common defense tactics such as lack of contractual capacity, obtaining assent by improper means, and the failure of basic assumptions (Barnett,2010).
The aforementioned summary
Before I begin the discussion related to contract law and the legal expert that I chose for this assignment, we must first define a few terms that helped guide the questions that I formulated for the interview. Moreover, these definitions and subsequent paragraphs will act as a conceptual lens to frame the discussion of contract law. While some of this information in this section can be found in year one of law school curriculum, this information is important to review in context to the paper and for my interview preparation. Therefore, this paper will start with a definition of a contract. “A contract is a promise or a set of promises for the breach of which the law gives a remedy, or the …show more content…
First, contracts always involve more than one party and the aim of the contract is to determine the “will” or “intent” of each party (Barnett,2010). The second concern of contract law is protecting the commitment or the “reliance” of each party (Barnett, 2010). Third aim of a contract is to increase the likelihood that the contract is value enhancing for all members (Barnett, 2010). However, while these are the core concerns of contracts, these goals cannot always be fulfilled (Barnett, 2010). Moreover, different sources inform the area of contract law, these sources include; legal cases, Restatement 2nd, and the Uniform Commercial Code …show more content…
Money damages involves one party owing another party some amount of money. Injunctive relief, is a court order that a “party must refrain from performing a certain act or face possible contempt charges” (Barnett,2010). However, when money damages are claimed two questions arise; how much money is owed and what are limitations on the availability of money damages (Barnett,2010). To answer this question, three different measures are often employed; expectation, reliance, and reinstitution (Barnett,2010). Expectation is the amount of money it would take to put the victim in a place similar to one in which the contract had been performed (Barnett,2010). Reliance, is the amount of money it would take to put the victim in a similar place had the contract not been created (Barnett,2010). Restitution, this involves putting the breaching party in a position similar to one had the contract not been made, or “discourage” any benefits the breaching party received (Barnett,2010). Damages will be awarded by a court based on the expectation measure unless one of the three limitations on damages applies; foreseeability, certainty, and avoidability (Barnett,2010). Attorneys, often use common defense tactics such as lack of contractual capacity, obtaining assent by improper means, and the failure of basic assumptions (Barnett,2010).
The aforementioned summary