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Specific performance may be ordered instead of (or in addition to) a judgment for money if the contract can still be performed and money cannot sufficiently reward the plaintiff.
• Ambiguity: when language has more than one meaning. If the ambiguity is obvious it is called "patent," and if there is a hidden ambiguity, it is called "latent." If there is an ambiguity, and the original writer cannot effectively explain it, then the ambiguity will be decided in the light most favorable to the other party.
• Agreement: any meeting of the minds, even without legal obligation. 2) In law, another name for a contract including all the elements of a legal contract: offer, acceptance, and consideration (payment or performance), based on specific terms.
Span Systems (Span) had a six million dollar contract agreement to manufacture banking software for Citizen-Schwartz (C-S). Span agreed to all for “ordinary” changes to be made to schedule requirements as long as they were compensated for those changes. Span claimed the changes were anything but ordinary and could not be met with the same budget and standards as previously agreed upon, but they proceeded …show more content…
Management must understand fully what it is they want or need out of the agreement well before an actual contract is drawn. The review process should start with addressing any potentially ambiguous terms. Article 2 of the Uniform Commercial Code requires definition of ambiguous terms. Ignorance is not an argument. The Supreme Court held that a contract may not be cancelled due to later dispute over meaning of key term (Go2Net v. C I Host, Inc., 2003). Opportunities arise when you take the chance to define those ambiguous terms using your light versus the
• Ambiguity: when language has more than one meaning. If the ambiguity is obvious it is called "patent," and if there is a hidden ambiguity, it is called "latent." If there is an ambiguity, and the original writer cannot effectively explain it, then the ambiguity will be decided in the light most favorable to the other party.
• Agreement: any meeting of the minds, even without legal obligation. 2) In law, another name for a contract including all the elements of a legal contract: offer, acceptance, and consideration (payment or performance), based on specific terms.
Span Systems (Span) had a six million dollar contract agreement to manufacture banking software for Citizen-Schwartz (C-S). Span agreed to all for “ordinary” changes to be made to schedule requirements as long as they were compensated for those changes. Span claimed the changes were anything but ordinary and could not be met with the same budget and standards as previously agreed upon, but they proceeded …show more content…
Management must understand fully what it is they want or need out of the agreement well before an actual contract is drawn. The review process should start with addressing any potentially ambiguous terms. Article 2 of the Uniform Commercial Code requires definition of ambiguous terms. Ignorance is not an argument. The Supreme Court held that a contract may not be cancelled due to later dispute over meaning of key term (Go2Net v. C I Host, Inc., 2003). Opportunities arise when you take the chance to define those ambiguous terms using your light versus the