Exam 3 Study Guide - Study Questions Study Questions, Quiz...

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Study Questions Study Questions, Quiz #3 1. Why do we need contract law? Why does Feinman mean by saying that “contract law is a remedy of law resort”? (see Feinman p.184) Provides security for exchanges that are projected into the future, enforces agreements, and aqprovides a mechanism for working out problems that arise during or after performance. It also demonstrates freedom and autonomy. People are more likely to try to work things out by themselves before hiring expensive lawyers and litigation, try to appeal to reasonable standard or persuade the other party first. (NOT SURE IF CORRECT) 2. Does contract law include all types of contracts? (p. 182) 1. No…excludes labor law and partnership law. I think it also includes areas that deal with property law and torto law. Property law deals with what is. Tort law deals with the past affairs before harm occurred. 3. Explain the idea of freedom of contract (p. 185). How does Hurley v. Eddingfield exemplify this? Freedom of contract- contract law demonstrates the laws respect for these values by enforcing the agreements people make and by imposing obligations on people only when and to the extent that they consent to assume those obligations. SO, there is freedom TO contract which is the ability to enter into any kind of agreement that you want (assuming you are of age) & freedom FROM contract which is your ability not to enter into an agreement unless you choose to do so (can’t be forced). Hurley v. Eddingfield- Eddingfield was Mrs. Burk’s doctor who treated her when she was pregnant. When she became ill he didn’t go to her house to treat her, eventually due to the illness Mrs. Burk and her baby died. The family sued Eddingfield. The Supreme Court held that Eddingfield had no duty as a licensed physician to come to Burk’s aid. o This shows that one cannot be forced into a contract against one’s will so he had no contract with the family/Mrs. Burk 1. Freedom of contract a. Freedom to contract i. Freedom to enter into whatever sorts of agreements you want to. b. Freedom from contract i. The right not to enter into certain agreements if you don’t want to enter into them ii. Erley versus Eddingfield (example of freedom from contract)
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4. Explain the following terms as applied to contracts: unilateral and bilateral; express and implied; oral and written. Express warranty- est whenever there is specific statement or promise made from one party to another, ie seller to buyer. Implied warranty- law provides warranty, implied warranty of merchantability, Implied warranty of fitness for particular purpose Unilateral – when one party of the contract makes a mistake of fact. Bilateral- when both parts make a mutual mistake of fact. Unilateral
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Exam 3 Study Guide - Study Questions Study Questions, Quiz...

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