21 - Statue of Frauds Sale of land Contract that by its...

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12:05 Damages Expectation Reliance Nominal Punitive Liquidated Defenses to contract Undue influence Mistake Bilateral-only when both sides are operating under the same situation Unilateral –not a defense. Age Illegality Duress Mental incapacity Misrepresentation Material  Induces reliance Reasonable reliance Unconscionable contract Business/consumer transaction Contract patently unfair
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Parol Evidence Rule No outside evidence may be used to change terms of written contract Exception: is missing terms may be supplied by outside evidence Wheels Example…promised you wheels but when you pick up the car the wheels are  not there and it is not written in the contract so you have no evidence. 
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Unformatted text preview: Statue of Frauds Sale of land Contract that by its terms cannot be performed within one year Contract for indemnification Uniform commercial code (UCC) Contracts for sale of goods over $$500 must be in writing Discharge of Obligations under Contracts Performance- substantial performance Breach of contract-terminates non=breaching partys obligation Anticipatory breach/Failture of condition Notice to part of concern Party must give reasonable assurance of ability to perform Agreement of parties Terminate Modify terms Replace contract Impossibility of performance 12:05 12:05...
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21 - Statue of Frauds Sale of land Contract that by its...

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