Philosophy 2080 Contract Law

Philosophy 2080 Contract Law - CONTRACT LAW Contract Notes...

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CONTRACT LAW Contract Notes The law of contacts is concerned with expectations induced by the conduct of others. Promises are a fundamental idea in contract. A promise is an undertaking as to the future of conduct of the party promising, the promise, with respect to the part to whom the promise is given, the promisee. The former agrees to the act, or refraining from an act, to the advantage or for the benefit of the latter. Offers An offer is an expression by one party of his assent to certain definitive terms, provided that the other party involved in the bargaining transaction will likewise express his assent to the identically same terms. An offer must be an expression of will or intention. It must be an act that leads the offeree reasonably to believe that a power to create a contract is conferred upon him. It is on this ground that we must exclude invitations to deal or acts of mere preliminary negotiations, and acts evidently done in jest. An expression of willingness to make a contract is not operative as an offer unless it is made in such a manner as justifies another person in thinking that it is directed at him for his acceptance. In order to be legally operative and to create a power of acceptance, it is necessary that the offer shall contain all the terms of the contract to be made. It is not enough for one party to say what he himself will promise to do, he must also say what he will do it for, that is, what the other party must do in exchange. If A says B: “ I will send and convey blackacre to you,” and B replies, “I will pay you $5000,” no contract has been made yet. November 18 th 2009 Contract as a promise essay Detrimental reliance: a term commonly used to force another to perform their obligations under a contract, using the theory of promissory estoppel. Promissory estoppel may apply when the following elements are proven: A promise was made relying on the promise was reasonable or foreseeable there was actual and reasonable reliance on the promise
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Enforcing the promise can only prevent injustice. Detrimental reliance must be shown to involve reliance that is reasonable, which is a determination made on an individual case by case-basis, taking all factors into consideration. Detrimental means that some type of harm is suffered Comes from tort law. Negligent misrepresentation If that were what they were all about it would be the same as tort law. Expectation damages: are damages recoverable from a breach of contract. Expectation damages are composed of incidental damages and consequential damages. The purpose of expectation damages is to put the non-breaching plaintiff in the position he would have occupied had the contract been fulfilled. Expectation damages are to be contrasted with reliance damages and restitution damages, which are limited to, or by, incidental damages. To put the plaintiff in the position they would have been if there were a contract
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This note was uploaded on 04/01/2010 for the course PHIL 2080 taught by Professor Hildebrande during the Fall '10 term at UWO.

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Philosophy 2080 Contract Law - CONTRACT LAW Contract Notes...

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