... specified, or the disqualification of said Bid due to failure of Principal to enter into such agreement and furnish such
bonds, certificates of insurance, and all other items as required by the Bidding Documents, if Principal shall pay to THE
REGENTS an amount equal to the difference, not to exceed ...
Enforcement of Promi..
... act....It consists of a promise for an act, the acceptance consisting of the performance of
the act requested, rather than the promise to perform it.
Bilateral contract: "a contract in which the contracting parties are bound to fulfil
obligations reciprocally towards the other....Contract formed by ...
Ch 1 Outline THE NATURE OF LAW - Law consists of enforceable
... D. LEGAL REALISM - Legal realists believe that in making decisions, judges are influenced by
their own beliefs, the application of principles should be tempered by each case’s circumstances,
and extra-legal sources should be consulted. This influenced the sociological school of
jurisprudence, which ...
I. The Basic Checking Relationship and the Bank`s Right to Pay
... 2. Rule that required banks not to pay overdrafts would be unduly burdensome on
customers who would have bad credit and bounced checks
iv. Bank’s can agree to pay overdrafts, and thus become obliged to do so. 4-402(a) states
that “a bank may dishonor an item that would create an overdraft unless it ...
Contracts Outline - NYU School of Law
... "Meeting of the Minds" refers only to the moment the contract is signed and the fact that
the two parties assented to the agreement. It does not refer to expectations, intentions,
etc. too subjective then
1. Ray v. Eurice Bros. (1952)
Δ tried to get out of performing its K with Π b/c Π was too picky ...
Commercial Law Developments 2010
... FSL Acquisition Corp. v. Freeland Systems, LLC,
686 F. Supp. 2d 921 (D. Minn. 2010)
Security agreement’s description of the collateral as “(i) all Purchased Assets identified on
the Bill of Sale [and] (ii) all renewals, substitutions, replacements, accessions, proceeds, and
products of the Purchased ...
Consideration - 2012 Book Archive
... Aspen, 1973), 46. In short, “courts do not inquire into the adequacy of
Of course, normally, parties to contracts will not make such a one-sided deal as
Scrooge and Caspar’s. But there is a common class of contracts in which nominal
consideration—usually one dollar—is recited in prin ...
Contracts - Eisenberg - 2004 Spring - outline 2
... of termination, no K actually exists; but made an implied promise to give him a chance in good faith to show his stuff, and he
relies on that promise. Relief may be limited to damages measured by the promisee’s reliance: not what he would have earned
from but what he lost in quitting the job he ...
The Personal Liabilities of Insolvency Practitioners under Insolvency
... bankrupt estates under the BIA. The trustees are required to be licensed by the
Superintendent of Bankruptcy22 and are subject to the Superintendent’s ongoing
supervision and control. Importantly, trustee licences may also be issued to corporations23 ;
as of November 1, 2005, there were 1057 individ ...
reorganizing with Value but Without Profit (or Equity)
... or, a labor union organized as an unincorporated nonprofit association,
proposed a plan under which it would borrow and distribute to creditors
a sum of money totaling the equity in substantially all of its assets. Under this proposal, the debtor estimated that unsecured creditors would
receive a 31 ...
Secured Transactions Summary: Fall 2001
... Management and principal shareholders of closely-held corporations personally guarantee the debt
obligations contracted by the corporation (non-suretyship personal security)
Also includes fidelity bonds, performance insurance, irrevocable letters of credit, co-debtorship
agreements, solidary obl ...
Contracts -Schooner – Fall 2011
... a. When a party makes a promise, fails to fulfill it, then benefits by taking advantage of
someone else, don’t want benefit from a wrongdoing- Want them to give back any illgotten gains
2. Offer and Acceptance in Bilateral Contracts
a. Bilateral Contract- exchange of a promise for a promise
i. Both ...
... - There are 4 principles to keep in mind in all creditors remedies cases:
a) Law believes that just debts should be paid
- Just debts occur when it is determined 'x' owes '$'
b) Some protection for the debtor, his/her family, and innocent 3rd parties
- See chapters on exemptions and immunities
c) So ...
Consumer Law and Credit / Debt Law
... This manual contains limited references to case law (the collection
of previous written legal decisions in a particular jurisdiction such as
a province or a country; over time, case law develops and establishes
principles that are used in understanding the law and deciding future
cases). In many ins ...
torts outline - NYU School of Law
... if requirement for ¢ is met, no other criteria necessary e.g. (a) benefit/detriment, (b)
equivalence in values exchanage, or (c) :mutuality of obligation
idea that court won’t delve too deeply into fairness debate
Adam Smith idea of every man for himself
Reasons to not enforce gratuitous promi ...
A Systems Approach to Comparing U.S. and Canadian
... their legal systems. Systems that operate very differently may use
deceptively similar language; systems that operate similarly may do so
through different institutions described in different terminology.S For
these reasons, comparative law scholars began "insist(ing] on the importance of inquiring ...
What Does Accepted for Value Mean?
... principles remain the same. The changes appear to be to the sections that deal with
secured transactions (Article 9) and some with investment securities (Article 8), but
negotiable instruments are what lead to those securities. The phrase “accepted for
value” has little coverage in the code books or ...
Contract Law in Timor-Leste
... them to pay money, called damages, to make up for not doing what they promised to do. More
technically, a contract is a promise or multiple promises, normally between two or more people
or organizations, called “contracting parties,” agreeing to undertake certain legally enforceable
duties or obliga ...
Chapter 25 - North Carolina General Assembly
... "Security interest" means an interest in personal property or fixtures which
secures payment or performance of an obligation. "Security interest" includes
any interest of a consignor and a buyer of accounts, chattel paper, a payment
intangible, or a promissory note in a transaction that is subject t ...
AMERCO /NV/ (Form: T-3, Received: 03/05/2004 16
... Disclosure Statement Concerning the Debtors' First Amended Joint Plan of Reorganization under Chapter 11 of the United States Bankruptcy
Code (the "Disclosure Statement"), as containing information of a kind, and in sufficient detail, as far as is reasonably practicable, to enable
holders of claims ...
barrick gold corporation
... (3) the words “herein”, “hereof” and “hereunder” and other words of similar import refer to this Indenture as a whole and not to any
particular Article, Section or other subdivision;
(4) certain terms, used principally in Article Three, are defined in that Article;
(5) capitalized terms not otherwi ...
FORM F-9 and FORM F-3
... by reference in this prospectus. In addition, any report filed or furnished by Barrick, BNAF or BGF with the SEC pursuant to Section 13(a) or
15(d) of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”) or submitted to the SEC pursuant to Rule 12g3-2(b)
under the Exchange Act, ...
AMERICAN CAPITAL, LTD
... Secured Notes will be governed by the indenture (the “Indenture”) to be qualified under this Application for Qualification on Form T–3 (this
“Application”). The Standby Plan, if implemented, would become effective on the date that is within 31 days after the later of (i) the date by
which all condit ...
Guarantee is a legal term more comprehensive and of higher import than either warranty or ""security"". It most commonly designates a private transaction by means of which one person, to obtain some trust, confidence or credit for another, engages to be answerable for him. It may also designate a treaty through which claims, rights or possessions are secured.The giver of a guarantee is called the surety or the ""guarantor"". The person to whom the guarantee is given is the creditor or the ""obligee""; while the person whose payment or performance is secured thereby is termed ""the obligor"", ""the principal debtor"", or simply ""the principal"".Suretys have been classified as follows:Those in which there is an agreement to constitute, for a particular purpose, the relation of principal and surety, to which agreement the secured creditor is a party;those in which there is a similar agreement between the principal and surety only, to which the creditor is a stranger;those in which, without any such contract of suretyship, there is a primary and a secondary liability of two persons for one and the same debt, the debt being, as between the two, that of one of those persons only, and not equally of both, so that the other, if he should be compelled to pay it, would be entitled to reimbursement from the person by whom (as between the two) it ought to have been paid.↑