Group 10
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1. The parties had an implied contract based on their course of dealings and industry custom, even though there was no written agreement. 2. Varni sued Wine World for breach of contract when Wine World terminated the distribution agreement without cause, claiming the implied contract protected them from termination without cause. 3. The court found that industry custom can supply terms to an implied contract, and ruled in favor of Varni.
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1) Common mistake cases involve situations where there was a fundamental assumption or fact that was mistaken by both parties at the time of contract formation.
2) Unilateral mistake cases involve situations where one party was mistaken about a basic assumption when entering the contract, while the other party was not.
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- The principal has a period of time to accept or reject orders passed on by the agent.
- The agent commits to meeting minimum annual sales objectives, or the principal can terminate the contract or modify terms.
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This document provides an overview of the discharge of contracts through various methods such as performance, agreement between parties, notice, breach of contract, operation of law including frustration, and remedies for breach of contract. It defines the key methods of discharge and uses cases as examples to illustrate concepts like performance, agreement, notice, breach as repudiatory or anticipatory, and frustration. The document also discusses common law remedies for breach like damages and equitable remedies, and how damages are calculated based on expectation loss or reliance loss. It provides limitations to damages awards. Overall, the document serves as a lecture overview on the discharge of contracts and available remedies.
Group 9
The document discusses a case between Borden Inc. and Sons of Thunder (SOT). Borden and SOT had a 5-year contract for Borden to purchase clams from SOT. Borden cancelled the contract after 90 days notice as allowed, but SOT alleged this was in bad faith. The document discusses precedent from a 1917 case and terms like good faith, consideration, and commercial reasonableness. It concludes Borden did not act honestly or reasonably in cancelling the contract.
Terms of a contract
This is a presentation on the terms of a contract. It covers the general concepts of terms of a contract. It is ideal for beginner to intermediate level Contract Law students
Terms.pptx
This document discusses the difference between terms, representations, and misrepresentations in contracts. It explains that terms give rise to liability if breached, while misrepresentations only allow claims for damages if proven to be fraudulent or negligent. To determine if a pre-contractual statement is a term or a mere representation, courts will examine factors like the relative expertise of the parties, importance of the statement, and timing. The intention of the parties is key, and can be deduced from considering the totality of evidence surrounding the statement. An innominate term is between a condition and warranty, with effects of breach depending on if the innocent party lost substantially all contract benefits.
Law and ethics 4 contractual capacity, consideration and contents
The document discusses contractual capacity and consideration. It states that for a contract to be valid, the parties must have capacity and there must be consideration. It outlines categories of people who may lack capacity, such as minors, persons of unsound mind, drunkards, and some companies. It also defines what constitutes consideration and notes it must be sufficient, not past, and not something a party is already obligated to do. The document concludes by discussing the various terms that can be included in a contract, including express terms, implied terms from custom, legislation, or courts.
Implied terms
Terms can be implied in a contract in three ways: by custom or trade usage, by law, or by courts.
For a term to be implied by custom or trade usage, it must be reasonable, certain, and notorious within the relevant industry. The custom cannot contradict the express terms of the contract. Terms may also be implied by law through common law precedents or statutes that apply to certain types of contracts.
Courts use the business efficacy and officious bystander tests to determine if a term should be implied. Under business efficacy, a term will be implied if it is necessary to make the transaction effective. The officious bystander test considers whether the term is so obvious that both parties would
Chapter Ten The Law of Contracts and Sales—IIIn our discussion of .docx
Chapter Ten The Law of Contracts and Sales—II
In our discussion of the law of contracts in Chapter 9, we were concerned that agreements be enforceable. We noted that without enforceability of contract law by a court, there would be no predictability for enterprises that produce and sell goods. Without this there would be no security and financial stability for a firm. We would see the risk of loss increase and entrepreneurship decline if contracts were not enforceable at all levels of the manufacturing, marketing, and distribution of services and goods.
In this chapter we carefully examine the methods by which a contract can be discharged (particularly through performance), as well as the remedies that are possible for firms and individuals who are injured by a breach of contract for the sale of goods (Articles 2 and 2A of the Uniform Commercial Code [UCC]). E-contracts are highlighted and the concepts underlying them are distinguished from traditional contract principles. This chapter also addresses the international dimensions of contracts and sales agreements.Critical Thinking About The Law
In Chapter 9, we emphasized the importance of predictability and stability for those who enter into contracts. Nevertheless, we do not want parties to jump immediately to the conclusion that they have a contract every time they talk about an exchange. Instead, we want to make it possible for people to talk about an exchange without having actually made a commitment to the exchange. Why?
To aid your critical thinking about issues surrounding contract formation and performance, let’s look at a fact pattern involving concert tickets.
Jennifer and Juan were recently involved in a breach-of-contract case. Juan had two extra tickets to a Garth Brooks concert, and he agreed to sell these tickets to Jennifer. After they had agreed on the price, Juan promised to give the tickets to Jennifer the next day. The next day, however, Jennifer did not want the tickets. Jennifer had discovered that it was an outdoor afternoon concert. Jennifer argued that she should not have to buy the tickets because she is allergic to sunlight and unable to spend any extended period of time outside. The judge ruled in favor of Jennifer.
1. What ethical norms seem to dominate the judge’s thinking (see Chapter 1)?
Clue: We have said that security is one reason for enforcing contracts. Review your list of ethical norms. Which norms seem to conflict with security in this case?
2. What missing information might be helpful in this case?
Clue: To help you think about missing information, ask yourself the following question: Would the fact that Juan knew that Jennifer was allergic to sunlight affect your thinking about this case?
3. What ambiguous words might be troublesome in this case?
Clue: Examine the reasoning that Jennifer uses to argue that she should be released from the contract.
Methods of Discharging a Contract
When a contract is terminated, it is said to be discharged. A contract m.
Law 531 final exam answers are here
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Chapter Ten The Law of Contracts and Sales—IIIn our discussion of .docx
Chapter Ten The Law of Contracts and Sales—II
In our discussion of the law of contracts in Chapter 9, we were concerned that agreements be enforceable. We noted that without enforceability of contract law by a court, there would be no predictability for enterprises that produce and sell goods. Without this there would be no security and financial stability for a firm. We would see the risk of loss increase and entrepreneurship decline if contracts were not enforceable at all levels of the manufacturing, marketing, and distribution of services and goods.
In this chapter we carefully examine the methods by which a contract can be discharged (particularly through performance), as well as the remedies that are possible for firms and individuals who are injured by a breach of contract for the sale of goods (Articles 2 and 2A of the Uniform Commercial Code [UCC]). E-contracts are highlighted and the concepts underlying them are distinguished from traditional contract principles. This chapter also addresses the international dimensions of contracts and sales agreements.Critical Thinking About The Law
In Chapter 9, we emphasized the importance of predictability and stability for those who enter into contracts. Nevertheless, we do not want parties to jump immediately to the conclusion that they have a contract every time they talk about an exchange. Instead, we want to make it possible for people to talk about an exchange without having actually made a commitment to the exchange. Why?
To aid your critical thinking about issues surrounding contract formation and performance, let’s look at a fact pattern involving concert tickets.
Jennifer and Juan were recently involved in a breach-of-contract case. Juan had two extra tickets to a Garth Brooks concert, and he agreed to sell these tickets to Jennifer. After they had agreed on the price, Juan promised to give the tickets to Jennifer the next day. The next day, however, Jennifer did not want the tickets. Jennifer had discovered that it was an outdoor afternoon concert. Jennifer argued that she should not have to buy the tickets because she is allergic to sunlight and unable to spend any extended period of time outside. The judge ruled in favor of Jennifer.
1. What ethical norms seem to dominate the judge’s thinking (see Chapter 1)?
Clue: We have said that security is one reason for enforcing contracts. Review your list of ethical norms. Which norms seem to conflict with security in this case?
2. What missing information might be helpful in this case?
Clue: To help you think about missing information, ask yourself the following question: Would the fact that Juan knew that Jennifer was allergic to sunlight affect your thinking about this case?
3. What ambiguous words might be troublesome in this case?
Clue: Examine the reasoning that Jennifer uses to argue that she should be released from the contract.
Methods of Discharging a Contract
When a contract is terminated, it is said to be discharged. A contract m ...
Contract Law Test and Answers November 2017
1. Consideration is what each party provides in a contract, such as money for goods. Executed consideration involves a thing in return for a promise, while executory consideration involves promises to perform future acts.
2. A party cannot claim consideration for doing something they are already legally obligated to do. A contract also requires an unforeseen event that radically changes completion and is not caused by either party to discharge the contract due to frustration.
3. An offer must be clearly defined and accepted for a contract to form, and an offer can end through rejection, lapse of time, or revocation. Acceptance generally occurs when a letter is posted, not received.
CCCA Spring Conference 2011: Negotiating Major Business Agreements
This presentation discusses the negotiation process for major business agreements. It outlines the applicable laws that you may face, the contract process, indemnity provisions and language issues.
Countdown to 2021
This document summarizes a Rhode Island Supreme Court case regarding personal jurisdiction. The Court held that personal jurisdiction did not exist over a Texas-based bank or a Florida resident in a dispute over rescinded payments. The bank's activities like advertising and online banking in Rhode Island were not enough to be "at home" there for general jurisdiction. Specific jurisdiction was also lacking as the bank's actions on behalf of the Florida resident did not create sufficient contacts with Rhode Island.
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Shipping E-Brief Winter 2015
The Shipping E-brief is a quarterly publication providing you with key information on legal decisions and developments in shipping and related business areas.
Sign up here to receive the E-Brief by email each quarter
http://incelaw.com/en/knowledge-bank/publications/shipping-ebrief-winter-2015
Chapter 9 – Introduction to Contracts
Powerpoint from textbook Business Law - the ethical, global, and e-commerce environment to accompany BA 330 course at the University of Alaska Fairbanks.
Restoring the Corners to Contracts- David J. Myers, ESQ.
1. The document discusses changes to California's parole evidence rule regarding fraud exceptions. Previously, oral inducements inconsistent with written contracts could not be used to claim fraud. However, a recent court case now allows such claims to prevent fraudulent inducement.
2. Going forward, contract expectations will be less certain as fraud claims and litigation focusing on parties' intent and reliance will be more common. Boilerplate clauses will provide less protection. Sophistication of parties and reasonableness of reliance will be important factors.
3. Some potential limitations discussed include failing to read a contract, sophistication of parties, bargaining power differences, and failure to investigate. Reformation of contract terms based on fraud may also now be available
Contract Terms
The document discusses the distinction between terms and mere representations in a contract. Terms form part of the contract while representations help induce the contract but do not form part of it. Whether a statement is a term or representation depends on factors like the statement's importance, any special knowledge or skill of the person making it, the time between the statement and contract formation, and whether it was reduced to writing. Breach of a term allows repudiation of the contract while breach of a representation only allows damages.
Similar to Group 10 (20)
5 a law and ethics discharge of contract, remedies and injunctions
5 a law and ethics discharge of contract, remedies and injunctions
Law and ethics 4 contractual capacity, consideration and contents
Law and ethics 4 contractual capacity, consideration and contents
Chapter Ten The Law of Contracts and Sales—IIIn our discussion of .docx
Chapter Ten The Law of Contracts and Sales—IIIn our discussion of .docx
Chapter Ten The Law of Contracts and Sales—IIIn our discussion of .docx
Chapter Ten The Law of Contracts and Sales—IIIn our discussion of .docx
CCCA Spring Conference 2011: Negotiating Major Business Agreements
CCCA Spring Conference 2011: Negotiating Major Business Agreements
Countdown to 2021: 60 Important Supreme Court Decisions for Rhode Island Civ...
Countdown to 2021: 60 Important Supreme Court Decisions for Rhode Island Civ...
Restoring the Corners to Contracts- David J. Myers, ESQ.
Restoring the Corners to Contracts- David J. Myers, ESQ.
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Fic Talk Show Sv & Ck
Bạn muốn biết nhiều hơn về chứng khoán ?
Bạn muốn trở thành nhà đầu tư đầy sáng tạo và thành công trong tương lai ?
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....nơi bạn có thể học hỏi kinh nghiệm từ những chuyên gia, doanh nhân thành đạt...
....nơi bạn có thể giao lưu và thử sức với nhiều trải nghiệm mới lạ......
Chúng tôi hân hạnh giới thiệu: Talk Show đầu tiên được tổ chức bởi Câu lạc Bộ chứng khoán FIC mang tên:
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- 1. GROUP 10 Quach Hoai Nam Lam Quang Minh Cao Duc Luong Nguyen Phu Long
- 2. Fact Defendant: Wine World,inc., A producer and supplier of wines Beriger , NapaRidge …
- 3. Plantiff: Varni Bros. Independent Distributor of Wine World. Warehouses , trucks, trained salespeople…
- 4. Varni started distributing for Wine World in 1975 on the basis of a handshake- no written contract.
- 5. In 1989, Wine World terminated its arrangement with Varni on 60 days’ written notice.
- 6. Varni sued They could be terminated only for good cause. Implied term of their contract, supplied by industry custom.
- 7. Issue Can industry custom supply a term of an implied contract? Answer: YES
- 8. Explanation Implied contract ? When parties reached an agreement even though they have not expressly stated its terms. Industry custom-handshakes-no written contracts. Everyone “understood’ what a “distributorship” involved.
- 9. Precedent Fact Jerry Emerson (a black-male worker) sued The Boeing Company. No.94-3125.(D.C. No. 92-CV-1279).United States Court of Appeals, Tenth Circuit.(May 8, 1995),Kansas. Plaintiff said that Boeing breached the parties' implied employment contract when it fired him.
- 10. Issue Under Kansas law, employment is presumed to be at will unless an implied contract covering the duration of employment exists. According to the industry custom, if an implied contract existed. The employee would be able to work until retirement age of 65.
- 11. Issue Plaintiff have to prove that the 2 parties mutually intended to enter into an implied employment contract. The employee's subjective expectation of continued employment is not enough.
- 12. Argument Plaintiff conceded that he did not have a written contract, but argued that he entered into an implied contract with Boeing. Boeing denied the existence of such a contract.
- 13. Argument On appeal, plaintiff asserted that the parties' mutual intent to be bound by an implied contract restricting Boeing's right to terminate employment at will. These facts were insufficient to prove the existence of an implied contract.
- 14. Argument Plaintiff also argued that the Boeing’s regulations indicated that he would not be fired except for a violation of company rules. However, they still did not support the plaintiff.
- 15. Verdict Plaintiff has failed to show specific facts from which an implied contract can be inferred. Summary judgment in favor of Boeing was appropriate on this breach of contract claim.
- 16. Return to the case of Varni If Varni can prove that an implied contract exists, or if they don’t make an agreement that rejecting CISG. Varni will win the court. However, if not, they would lose.
- 17. Implication in Viet Nam Plaintiff: the Coca-cola Viet Nam Co, Ltd.Address: LinhTrung– ThuDuc– HCM city. . Defendant: Mr Le Xuan Duong – Distributor.Address : 28 Hang Chieu-HoanKiem-HaNoi. No: 03/KTST Date: 11/01/2005 of the Ha Noi’s people commercial court.
- 18. Fact On 26/10/2004.Coca-cola Viet Nam sued Mr.Duong because he broke the contract, stoped buying the products and didn’t pay the debt of 134.740.000 VND for the company. Mr Duong also confirmed this debt.
- 19. Fact Coca-cola said that they had made an implied contract with Mr Duong.(Contract was fine until 30/12/2003) This contract implied that Mr Duong could buy the products without paying in advance.
- 20. Fact In this case, the distributor faced difficulties in business so he delayed the paying time. The company agreed to decrease the debt to 84.180.000 vnd
- 21. Issue Based on the industry custom, the distributor have to pay back the debt to the company after they make the transaction without any exception.
- 22. Verdict Base on Viet Nam commercial law on 1997 MỤC 2:NHỮNG NGUYÊN TẮC CƠ BẢN TRONG HOẠT ĐỘNG THƯƠNG MẠI Điều 13. Nguyên tắc áp dụng tập quán trong hoạt động thương mại. Trường hợp pháp luật không có quy định, các bên không có thoả thuận và không có thói quen đã được thiết lập giữa các bên thì áp dụng tập quán thương mại nhưng không được trái với những nguyên tắc quy định trong Luật này và trong Bộ luật dân sự.
- 23. Verdict The court decided that: - Accepted the lawsuit on 26/10/2004 of the Coca-cola Viet Nam Co, Ltd. - Mr Le Xuan Duong had to pay the debt 84.180.000 vnd for the Coca-cola Viet Nam Co, Ltd. - Defendant had to pay all the fee.