Chapter 8: Possibility and Certainty Flashcards
explain the general rule regarding the effect of impossibility of performance on a contract
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identify the different types and consequences of impossibility of performance
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distinguish between initial impossibility, subsequent impossibility and the prevention of performance
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examine the exceptional cases where liability ensues despite impossibility
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explain the effect of warranties
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discuss the consequences and effect of impossibility
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explain the general rule of certainty regarding performance
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discuss the application of the rule by examining practical examples of uncertainties in contracts
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understand the nature and effect of a pactum de contrahendo or agreement to agree
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identify the various factors that create uncertainty
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examine the existence of contractual mechanisms to obtain certainty
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discuss the consequences of uncertainty
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