Contracts II Short Notes

Contracts II Short Notes - I Remedies for Breach(A Buyer's...

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I. Remedies for Breach (1) Measuring Expectation (A) Buyer’s Remedies for Breach of K (1) Cover (2) Market Price Formula (B) Seller’s Remedies for Breach of K Substitute Performance: 2 Kinds (1) Resell Formula (Seller’s Cover) (2) Market Price Formula (C) Differences b/w Seller’s and Buyer’s Remedies (D) Lost Profits (1) Lost Profits for Full Performance (2) Lost Profits for Non Performance (3) Lost Profits for Partial performance (i) Partial Performance of a Non-Losing K (ii) Partial Performance of a Losing K (E) Other Remedies (1) Specific Performance (remedy at equity) (2) Replevin (remedy at law) (2) Limitations on Damages (A) Avoidability (B) Economic Waste (C) Foreseeability (D) Emotional Disturbance (E) Certainty (F) Sentimental Value (3) Liquidated Damages (A) The Courts will Strictly Construe Liquidated Damages Clauses (B) 3 Requirements for Reasonableness of Liquidated Damages Clause II. K Interpretation; Finding the Law of the K (1) Parol Evidence Rule (A) The 5 Requirements (B) Exceptions to the Parol Evidence Rule (C) Parol Evidence Under the UCC (2) Collateral Agreements (3) No-Oral-Modification-Clauses
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