lecture%203.1contracts.%20HFT3600 - Difficult to show...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
HFT 3600 Lecture 3: Contracts; Jurisdiction; Venue Contracts Contract = Meeting of the minds + consideration + breach + damages Offer and Acceptance; Counteroffer is rejection of offer Written or verbal Statute of Frauds requires contract in writing to be enforceable for some things: Real estate Probate (wills) Debt of another person Executory not to be performed within 1 yr Some states have a requirement for writing if price exceeds a certain amount Parol (verbal) evidence - Used for interpretation of contract by verbal statements not in writing Only allowed if Ambiguity - to determine intent of parties Failure of consideration: eg., credit card is disapproved Capacity to make contract Age, mental disability Impossibility of performance Mutual mistake Substantial performance Tortious interference with contract Tort with damages against party interfering Damages Benefit which parties reasonably expected as result of contract
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Difficult to show damages prospectively suffered by business without history Speculative damages disfavored Attorney fees – only if stated in contract or allowed by statute Illegal contracts will not be enforced - drug sales, gambling debts Example Cases Cardinal Consulting v. Circo Resorts; booked 50 hotel rooms in Las Vegas Carnival v. Shute – cruise ticket Queen Mary II - hit obstruction leaving Ft. Lauderdale’s Port Everglades; returned to port for two days; passengers kept on board so ship could leave after repairs. Left but damaged engine made ship slower. In order to reach Rio by scheduled arrival date ship has to skip ports of call in Barbados, Aruba, and Northern Brazil. Ships offered 50% rebate to captive passengers. Passengers protested; wanted opportunity to leave ship before Ft. Lauderdale departure since it was not making scheduled stops....
View Full Document

This note was uploaded on 03/08/2011 for the course HFT 3600 taught by Professor Boyd during the Spring '11 term at FIU.

Page1 / 2

lecture%203.1contracts.%20HFT3600 - Difficult to show...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online