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contracts outline
contracts outline

... 1. Restitution Interest = the party’s interest in recovering values conferred on the other party through efforts to perform a contract (intended to prevent the undue enrichment of the promisor) 2. Reliance Interest = party’s interest in recovering losses suffered by virtue of reliance on the contrac ...
Marketing liability in Finnish insurance law – implications for contract
Marketing liability in Finnish insurance law – implications for contract

... theoretical approach can be used to discover the points of tension between this rule and established contract law, and to present a critique of the dogma of contracts as enforceable agreements. The analysis taps into the legal and philosophical discussion on the interaction between legal rules, soci ...
consumer law 2009 update
consumer law 2009 update

... warranty; “The deceptive act that plaintiffs allege here is that, without disclosing to Chun that the Extension could not be cancelled, BMW Manhattan placed the charge for the Extension on his service invoice, and acted as though such placement have BMW Manhattan a mechanic’s lien on the Car. Such a ...
Hong Kong Contracts
Hong Kong Contracts

... Is There a Contract? This is a question of law, and it may be answered by the parties themselves agreeing that there is, or accepting the advice of their lawyers, or, if legal proceedings are begun and the case comes to trial, by the court. A court can only decide a case on the evidence presented to ...
Business Law Now!: Exercises - Open University of Tanzania
Business Law Now!: Exercises - Open University of Tanzania

... 6. The obligation to follow precedent encourages the exercise of judicial discretion and deterring bias, as well as protecting judges from professional criticism, thus encouraging the effective operation of the legal system. List of Disadvantages of Judicial Precedent 1. Precedent is resistant to ...
the divergence of contract and promise
the divergence of contract and promise

... moral agency, but neither directly reflect nor entirely ignore interpersonal morality. The law must be attentive to the full range of normative positions because law represents a special form of normative cooperative activity. Yet, because law is a cooperative activity of mutual governance that take ...
LESSON 9-1 What is Consideration?
LESSON 9-1 What is Consideration?

... desires, market supply/demand, and a party’s ability to evaluate. If the difference in value is extreme, it may indicate there is no genuine agreement. ...
Bargaining Structure
Bargaining Structure

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February - New York State Board of Law Examiners
February - New York State Board of Law Examiners

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CONSIDERATION DOCTRINE AND REGULATORY ARBITRAGE IN
CONSIDERATION DOCTRINE AND REGULATORY ARBITRAGE IN

... where ownership of a securitized mortgage might be contested. One such situation would be bankruptcy of the corporate entities that operate the Mortgage Electronic Registration System. Our findings also raise a novel question at the intersection of contract and property law. We find that many interm ...
Section 1: Capacity to Contract: Infancy, Mental Incompetence
Section 1: Capacity to Contract: Infancy, Mental Incompetence

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Mass Marketed Software - DigitalCommons @ LSU Law Center
Mass Marketed Software - DigitalCommons @ LSU Law Center

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How To Process Overpayment on a Loan Payoff
How To Process Overpayment on a Loan Payoff

... Step 3: Write a check to the customer for the overpaid amount out of g/l # Miscellaneous Clearings (13500000). 1. From the Main Menu choose option 4 – Write Checks / Other Money Recv’d, then option 1 – Write/Void Checks. 2. At the Which one? prompt, choose option 1 – Write checks, then press the Ent ...
Offer and Acceptance Review
Offer and Acceptance Review

... Canadian History of Restitution  Canada’s history begins with Deglman v. Guaranty Trust Co. of Canada (1954) on the common law side, and Petkus v. Becker (1980) on the equity side  Today, Canada has the most developed law of restitution in the commonwealth (much influenced by US) Deglman v. Guaran ...
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recent developments in delaware commercial law: important
recent developments in delaware commercial law: important

... The dispute in this case arose from a proposed collaboration between two biodefense companies, plaintiff, PharmAthene, Inc. (“PharmAthene”), and defendant, SIGA Technologies, Inc. (“SIGA”), to develop a drug to prevent and treat smallpox. SIGA acquired the technology for the smallpox drug, ST-246, a ...
Introduction - ePublications@bond
Introduction - ePublications@bond

... because it wishes to close the transaction, and the situation where the payer may not have thought about the validity of the provision at all but pays because he or she has assumed the validity of the provision. This would not be unusual in commercial transactions particularly in cases where parties ...
revision question bank - Becker Professional Education
revision question bank - Becker Professional Education

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Ch 1 Outline THE NATURE OF LAW - Law consists of enforceable
Ch 1 Outline THE NATURE OF LAW - Law consists of enforceable

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Emanuel Law Outlines
Emanuel Law Outlines

... Example: A writes to B, "I’ll sell you my house for $100,000, closing to take place April 1." B writes back, "That’s fine; let’s close April 2, however." At common law, B’s response is not an acceptance because it diverges slightly from the offer, so there is no contract. B. UCC view: The UCC reject ...
United States v. First National Bank of Chicago
United States v. First National Bank of Chicago

... then, courts should consider refraining from exercising enforcement jurisdiction if it would result in a conflict with existing foreign law.' 8 In the case defendant's acts have affected U.S. commerce, U.S. courts have jurisdiction); United States v. Imperial Chem. Indus., 100 F. Supp. 504 (S.D.N.Y. ...
Property Division Issues in Non-Marital Relationships
Property Division Issues in Non-Marital Relationships

... also rejected Starrett’s argument that the agreement was void for lack of consideration because Starrett gave up everything and all Silver agreed to do was to move out of Starrett’s house. Because Silver had an arguable claim to property or tenant rights to the house they shared, the property releas ...
white paper on Frustration and Force Majeure.
white paper on Frustration and Force Majeure.

... this rule. In this case a tenant of a farm was found liable for rent arrears for a period of two years despite having been evicted and kept out of possession of the property during that time. Great significance was placed upon a party making good an obligation it had assumed and, in any event, it wa ...
`Uses and Misuses of `Mutuality of Obligations`
`Uses and Misuses of `Mutuality of Obligations`

... legal ‘test … to found a contract [or] to found a contract of employment’ and as ‘an essential element’ of the structure of the contract of employment. Mutuality may well be the lapis philosophorum of English labour contract law, but the following pages will suggest that it is often used to turn gol ...
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Unconscionability

Unconscionability (known as unconscionable dealing/conduct in Australia) is a doctrine in contract law that describes terms that are so extremely unjust, or overwhelmingly one-sided in favor of the party who has the superior bargaining power, that they are contrary to good conscience. Typically, an unconscionable contract is held to be unenforceable because no reasonable or informed person would otherwise agree to it. The perpetrator of the conduct is not allowed to benefit, because the consideration offered is lacking, or is so obviously inadequate, that to enforce the contract would be unfair to the party seeking to escape the contract.Unconscionability is determined by examining the circumstances of the parties when the contract was made, such as their bargaining power, age, and mental capacity. Other issues might include lack of choice, superior knowledge, and other obligations or circumstances surrounding the bargaining process. Unconscionable conduct is also found in acts of fraud and deceit, where the deliberate misrepresentation of fact deprives someone of a valuable possession. When a party takes unconscionable advantage of another, the action may be treated as criminal fraud or the civil action of deceit.For the defense of unconscionability to apply, the contract has to have been unconscionable at the time that it was made; later circumstances that make the contract extremely one-sided are irrelevant. There are no standardized criteria for determining unconscionability; it is a subjective judgment by the judge, not a jury, and is applied only when it would be an affront to the integrity of the judicial system to enforce such a contract. Upon finding unconscionability a court has a great deal of flexibility on how it remedies the situation. It may refuse to enforce the contract against the party unfairly treated on the theory that they were misled, lacked information, or signed under duress or misunderstanding; it may refuse to enforce the offending clause, or take other measures it deems necessary to have a fair outcome. Damages are usually not awarded.
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