Instructors manual to accompany business law eleventh

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         INSTRUCTOR’S MANUAL TO ACCOMPANY  BUSINESS LAW , ELEVENTH EDITION A NSWER   TO  “T HE  G LOBAL  D IMENSION ” Q UESTION   IN  C ASE  18.3 Suppose that Stainbrook and Low had been citizens and residents of other countries. Would the location of the  land   that   was   the   subject   of  their  contract   have   been  sufficient   to  support   the  Indiana   state  court’s jurisdiction and award in this case? Discuss.   Yes. Contracting parties can choose the forum in which a dispute under their contract will be resolved, and they may choose the law to apply to that dispute. In fact, when the parties are located in different countries, it is advisable that they stipulate choices on both points. With respect to a designated forum, the selection will likely be honored unless one of the parties is thereby denied an effective remedy or is substantially inconvenienced, or if the selection was the result of fraud or otherwise violates public policy. With respect to the choice of law, the most important requirement is that the law be of a jurisdiction that has a substantial relationship to the parties and the transaction. In an action seeking specific performance of a land sales contract, the court in the jurisdiction in which the land is located would seem to have such a substantial relationship. IV. Reformation Reformation allows a contract to be rewritten to reflect the parties’ true intentions.  It applies most of- ten when fraud or mutual mistake occurs, or when the terms of a covenant not to compete are un- reasonable.  Reformation is often sought so that some other remedy may be pursued (if a contract for a sale of land mistakenly refers to the wrong property, for example, the contract may be reformed to conform to the parties’ intentions, and specific performance can then be sought). V. Recovery Based on Quasi Contract A. W HEN  Q UASI  C ONTRACTS  A RE  U SED Quasi-contractual recovery may be awarded when a party has partially performed under a contract that is unenforceable.  B. T HE  R EQUIREMENTS   OF  Q UASI  C ONTRACT To recover, a party must show that— He or she conferred a benefit on another. He or she conferred the benefit with the reasonable expectation of being paid. He or she did not act as a volunteer in conferring the benefit. The party receiving the benefit would be unjustly enriched by retaining it without paying.
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