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Commercial Law > Midterm > Flashcards

Midterm Flashcards

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1
Q

What is the difference between common law and statute law? Give eg.

A

Common law: law made by judges, which are cases. Rudder v. Microsoft are an example.
Statute law: Law by higher members of the court. Legislations, codes, articles are a part of this. The Constitutional Act of 1867 is an example. NS e-commerce act is another one.

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2
Q

Diff. between Common Law and Civil Law?

A

Common Law: Known from the English system and is a law made by judges.
Civil Law: Known from the French system and inspired by the Roman system. A law made by governing people.

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3
Q

Diff. between Public Law and Private Law?

A

Public Law: Constituational law, criminal, implies the government.
Private Law: Private matters, such as divorce, contracts

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4
Q

What types of things International law cover?

A

Areas of law that cover between countries, such as international trade and shipping

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5
Q

What is the doctrine of precedent? Give an example

A

The concept that previous cases’ results hold an importance today, and when similar cases come up they will most likely have the same result. An example would be Rudder v Microsoft

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6
Q

When there is a conflict between the Charter of Rights and the Freedoms and federal or provincial legislation how is it settled?

A

Constitution Act 62, the law would be considered unconstitutional, and it would have no effect. Part of the legislation would have to be struck out. It has one year to fix.

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7
Q

If you are an aggrieved party in a dispute what options do you have?

A

Arbitration and mediation

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8
Q

Diff. between mediation and arbitration?

A

Mediation: Has a 3rd party, but they do not solve anything, the two parties makes the decision
Arbitration: Has a 3rd party, but they do solve and decide the outcome

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9
Q

dispute about $22,000 in Nova Scotia which court could you choose?

A

Small claims court

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10
Q

Which court would you go to if the amount was $40,000

A

Nova Scotia Supreme Court

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11
Q

Courts in order from trial to highest: NSCA, SCC, NSSC

A

NSSC, NSAC, SCC

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12
Q

What test is used to determine if there is a contract between the 2 parties?

A

Intention to create legal relations, offer, acceptance, consideration

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13
Q

Effect of a counter-offer on an offer?

A

It cancels the offer

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14
Q

What does it mean to revoke an offer? Does the offeree have to know the offer is revoked?

A

Cancels the offers before the acceptance. The offeree must know that the offer is revoked.

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15
Q

When exactly, is a contract formed? At what instant?

A

The second it is accepted

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16
Q

What is the postal rule?

A

When a mail has been put in the mailbox and been accepted immediately. Exception to the general rule.

17
Q

What does s. 24 of the Nova Scotia Electronic Commerce Act cover?

A

When it is sent or accepted is when the receiver can process and retrieve the acceptance in the same information system.

18
Q

When is an e-contract formed?

A

Formed like any other contract, instantanous

19
Q

Examples of consideration?

A

Money for service, item for item. Exchange does not have to be for market value.

20
Q

What is an anticipatory breach of contract? Give an example

A

When the breach is anticipated and notified that the contract will not be filled. Mogul v Horatio is an example, when Mogul notified a month in advance that they could not deliver the gasoline on time.

21
Q

What does it mean to repudiate?

A

END IT

22
Q

Diff. between a term of contract that is a condition and a term that is warranty? How do you tell the difference?

A

Test: Did the person lose a substancial benefit due to the breach of contract?
If so, it would be a condition: they can repudiate and sue
If not, it would be a warranty: Can only get damages

23
Q

What is remoteness in contract law? What is the test used?

A

Remoteness is the extent of the losses in a certain case.
Test: Did the type of loss occur naturally of the breach?
Yes, not remote: $
No, remote: X

24
Q

When a contract has been breached which party/person has a duty to mitigate their losses?

A

The innocent

25
Q

What is the aim of damages in contract law?

A

For the innocent to not lose money, and so they can “pretend” it never happened

26
Q

What are expectation damages?

A

Lost profit from the breach

27
Q

What are reliance damages?

A

Loss of money from trying to perform the contract

28
Q

When would specific performance be a suitable remedy? Give an example

A

It would be when money would not be enough to replace the contract. Eg art

29
Q

If you sign a contract without reading it are you bound by it?

A

Yes, signing a contract means it is assumed it is read.

Commercial Law (2 decks)

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