Contract Law

Question 1

Van Halen and M+Ms

Answer 1

They had a lengthy contract and to ensure promoters read it fully they added a stipulation that there could be no brown M+Ms in their candy bowl backstage. Often older arenas were not built to handle all the equipment VH had and this would help ensure safety of the band and the audience. It allowed VH to rescind contract should this condition not be met.

Question 2

Purpose and Goals of Contract Law

Answer 2

Uphold reasonable expectations of promised performance. Goals of consistency and protecting expectations

Question 3

Privity of Contract

Answer 3

Can only have liability to other party of contract (Not to strangers)

Question 4

Breach of Contract

Answer 4

When performance does NOT match binding promises or suing for the difference between what you expected and what you got

Question 5

Elements of breach of contract

Answer 5

Properly formed (enforceable) contract, breach of contract and harm

Question 6

Properly formed contract

Answer 6

Offer (Sets out all elements wish to be bound) + Acceptance (Oral, verbal or implied) + Exchange of Consideration (Something of value)

Question 7

What can be breached?

Answer 7

Condition (Large item going to heard of consideration, can rescind contract); Warranty (Smaller, independant issue, no right to rescind you finish contract and sue for damages)

Question 8

Improperly Formed Contracts

Answer 8

Promise was merely gratuitous (no consideration), contracts based on mistake or incapacity are void and misrep, undue influence (Take advantage of vulnerable and weaker party) and unconscionability (If a contract is unfair or oppressive to one party in a way that suggests abuses during its formation, a court may find it unconscionable and refuse to enforce it)

Question 9

Defenses to Breach of Contract

Answer 9

No breach (I did what it said), Contract was discharged (by agreement or frustration)

Question 10

Contract Law Remedies

Answer 10

Expectation Damages (Difference between what is expected and what was received), Consequential damages (Indirect losses), Reliance damages and equitable remedies (court orders and rescission)

Question 11

Law of Misrep

Answer 11

Material wrongful inducement to contract (intentional, negligent or innocent)… Defense to properly formed contract, independent cause of action in contract law and important when dealing with customers (False advertising and sales laws)

Question 12

Fact Pattern Schematic

Answer 12

Assume PoV, What is the ISSUE, what LAW is relevant, What FACTS are material, Analysis of argument that solves the issue and Conclude

Question 13

Cause of Action

Answer 13

Legal argument that could give rise to a remedy on the facts (Ex: Negligence and breach of contract)