Common Law of Contracts

Question 1

What is covered under common law of contracts?

Answer 1

Contracts that do not involve sale of goods

Question 2

3 Types Contractual obligations

Answer 2

1. Express
2. Implied in fact
3. Implied in law

Question 3

Express contractual obligations

Answer 3

The parties make oral or written “expressions” of their commitments

Question 4

Implied-In-Fact Contractual Obligations

Answer 4

Consentual agreements that fail to expres the agreement of the parties in its entirety

Example: homeowner hires a plumber to fix a leak, but because of the urgency of the service, the parties do not discuss the price of the work performed. Upon completion of the work, Homeowner has an implied-in-fact obligation to pay the plumber the reasonable value of the services rendered.

Question 5

Implied-In-Law Contractual Obligation

Answer 5

• Arises where one party bestows a benefit on another and its it’s unjust for recipient to retain the benefits without paying
• Arises when there is an equitable imposition of a would be contract

Example: Emergency Services: A surgeon who perfoms emergency surgery on an unconscious patient createse an implied-in-law obligation to the patient

Question 6

What is Quantum Meruit?

Answer 6

It is a means of enforcing both implied-in-fact and implied-in-law contractual obligations

Question 7

Electronic Signatures

Answer 7

Like e-mail, are legally sufficient to satisfy the writing requirement

Question 8

What is the signed writing requirement

Answer 8

A signed writing may be required to create an enforceable legal obligation