Contract

Question 1

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Indeminty vs guarantee

Answer 1

Indmeinty- primary obligantion not needed to be in writing, promise from A to B to do something or pay for something eg loss

GUarantee- 2ndary obligation ( needs to be in writing) to be binding, if A does not do something then C will do it for B.

Question 2

Damages available for breach of contract

Answer 2

Loss of profit- if not too remote and foresable
mental distress- only awareded where contract was for enjoymment
cost to remedy/cure- on facts
specific performance- do the thing

Nominal damages - if client cannot establish a loss as a result (recog that the contract was breached)

Question 3

Dures reqs

Answer 3

pressure- with the effect of compulsion on or a lack of other choice to Victim

Illegatimate ( breach of contract or bad faith or victim protested)

significant cause inducing the victim to enter into the contract.

• makes voidable; pending any bars ( affirmation, delay, 3rd party puraser, impossible to retore)

Question 4

presumed Undue influence- what is it, what is constructive notice, how to avoid.

Answer 4

presumeed in trust and confidence relat And Tx that calls for explination

if undue influence and 3rd patry actually knows or constructive notice then debt surety may be rescinded.

constructive- ( ought to have been put on inquiry and did not take steps to ensure other party knew the implications)

how to avoid- do pvt meeting/ independent legal advice with other party