Contracts
First semester contracts course materials
Contract Law: Foreseeability
Damages must be foreseeable at the time the contract is made. »
Contract Law: Expectation Damages
Expectation damages are designed to compensate the injured party for the benefit he would have received had the contract not been breached, minus any amount he would have spent in performance of the contract »
Contract Law: Termination of an Offer
An offer is said to be terminated in the following instances: Revocation of the offer by the offeror Rejection of the offer by the offeree (explicitly or by counter-offer) Lapse of time Death Condition bringing an offer to an end Lapse of Time An offer does not remain open indefinitely. Power of acceptance by... »
Contract Law: What is an Offer?
"An offer is the manifestation of willingness to enter into a bargain, so made as to justify another person in understanding that his assent to that bargain is invited and will conclude it. »
Contract Law: Legal Duty Rule
The legal duty rule, also referred to as the preexisting duty rule establishes that there can be no consideration in a contract based on a preexisting duty of the promisee. “That a promise to pay a man for doing that which he is already under contract to do is without consideration….he rule has been... »
Contract Law: Doctrine of Waiver
Whether or not a promisor can waive a term in a contract depends on whether that term is a condition of part of the consideration of a contract. Without consideration, a contract is unenforceable, thus consideration cannot be waived. »