LGS Exam 2 TermsPDF

These damages are generally disclaimed in a license

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: reseeable damages that come from damage outside of the contract. These damages are generally disclaimed in a license agreement and the breaching party is not liable. When not disclaimed, One party has to set non breeching party to original position + position if had not breeched Undue Influence o One person takes advantage of another person, and forces them into a contract one would normally not enter into i.e. When individual is not in a position to give her assent and she enter a contract Duress- When a party threatens to do a wrongful act unless another party enters into a contract. The contract is not enforceable. Fraud- Material misrepresentation of fact (Someone lies and injures an innocent party) Novation- Replaces one of the original contracting parties with a third party to perform the same contract Rescission of Contract- An action to try and undo/invalidate a contract Breach/ Anticipatory Breach of contract o Breach- When one or both parties do not perform their duties as specified in the contract o Anticipatory Breach- If told up front that one party will not follow through you can treat it as a breached contract The Objective test- Court will not look at your intent but will look at if a reasonable person will think there is mutual assent Remedies for Breach o Specific performance- When the breeching party has to perform the acts promised in a contract o Damages- Orders breaching party to pay loss to breaching party Specific Performance o When the breeching party has to perform the acts promised in a contract Mitigation of Damages o Non breaching party may be harmed by actions of breaching party but breaching party is only responsible for the unavoidable harms from his breach not from the non breaching parties to lessen the their harm • • • • • • • • • • •...
View Full Document

This note was uploaded on 02/07/2014 for the course LGS 200 taught by Professor Turner during the Spring '07 term at Alabama.

Ask a homework question - tutors are online