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EconLawTest2Cases - H amer v Sidway Court of Appeals of New...

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Hamer v. Sidway Court of Appeals of New York, 1891 Wm. E. Story, Sr. promised his nephew, Wm. E. Story, 2d, that he would pay him $5,000 if the nephew would refrain from drinking, using tobacco, & playing cards or billiards for money until he was 21 years old. The nephew satisfied these requirements & asked for the money. The uncle said he would give him the money when he got his feet on the ground. The nephew never got the money & transferred the right to receive the money & interest to Hamer. Then the uncle died. Hamer sued the executor of the uncle’s estate (Sidway) for the $5,000 plus interest. The defendant (Sidway) contended that the contract was without consideration & thus should not be enforced. Batsakis v. Demotsis Court of Civil Appeals of Texas, 1949 Demotsis found herself in difficult circumstances in Nazi-occupied Greece & borrowed money from Batsakis--Greek currency worth about $25 at the time. She signed a promissory note to repay the loan in U.S. currency--explicitly agreeing to pay $2,000 + interest. After the war the two met in the U.S. & Batsakis sought repayment of the full note but Demotsis offered to pay only $25 plus interest. For some unexplained reason, the jury in the trial in Texas awarded Batsakis $750 plus interest. Batsakis appealed. Hadley v. Baxendale Court of Exchequer, 1854 9 Exch. 341. Hawkins v. McGee 84 N.H. 114, 146 A. 641 (N.H., 1929)
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In the above examples, the victims of breach valued performance according to market values. In this case, the victim of breach subjectively valued performances differently from the market. Plaintiff: George Hawkins Defendant: Dr. McGee Groves v. John Wunder Co. 286 N.W. 235 (S. Ct. of Minnesota, 1939) Facts: Court Decision: Efficient Breach? Economic Issues? Peevyhouse v. Garland Coal & Mining Co. 382 P2d 109, cert. denied, 375 U.S. 906 (Okla. 1962) Facts: Court Decision: Efficient Breach? Economic Issues? Post v. Jones 60 U.S. (19 How.) 150 (1857) Facts?
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Did this case involve “duress” or “necessity”? If either, which? Explain. Court’s Decision? Austin Instrument, Inc. v. Loral Corporation (1971) Loral received contract #1 with Navy; Loral subcontracted Austin to make parts for the contract. A year later Loral received contract #2 with Navy; Loral wanted Austin to bid to be subcontractor again. But Austin was not the low bidder for this 2 nd subcontract & Austin told Loral it would not supply the parts for 1st contract unless it was given the 2 nd subcontract & given a price increase for the 1 st subcontract. Loral gave in to Austin’s demands but later withheld the last payment to Austin after it had received all the parts for contract #1.
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