POL-Nov5 - Exam 2:00pm NS 145 Covers up to the end of Tort...

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Exam 2:00pm NS 145 Covers up to the end of Tort law Contract law vs. Tort law -In tort law, society makes an objective determination about your conduct that makes you liable. -In contract law, parties design their own liability, individuals decide what their rights and obligations are. A “moral obligation” based on a promise -A contract is legally binding, so you invoke the power of the state to enforce it. So what makes it independent form the state? -If contract law is based on promise and individual freedom then it is based on the notion of individualism. You are a “free agent”. However, the law interferes with contract law by adjusting statute. -You can not treat people as a means to an end; you must treat them as an end themselves, to protect the dignity of the person. -Contracts involve obligations for the future, binding. “Trust” evokes moral obligation, invites reliance. -Contract law involves the initial bargain that is made, people must obey their initial commitments. Not purely ‘economic self-interest’. -It may seem economically efficient for someone to breach a contract and pay the fines, but that is recognised in contract law as “efficient breach”. You can be fined, etc What is a promise worth? How do we measure damages in contract law? -Expectation damages: parties should, or will be compensated for their expectations from the contract, or the losses that are expected to occur if the party breaches their obligations -Example: you buy something in an antique shop, but want to return it later. The storeowner can actually sue you for not fulfilling your contract with the vendor. If he/she sells it later for less than what you promised, he/she can sue you for the difference. -Example: you buy a bolt in Home Hardware and it fails to hold something up or together, there is no expectation to pay for your liability (i.e. the damages caused by the defective bolt). Knowledge changes the liability because it makes you more independent in the issue -Example: Delivery company hired to deliver a stove to a trade show, but it never showed up. Sued for
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