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Contracts Introduction Chapter Notes

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by: Amber Sharpnack

Contracts Introduction Chapter Notes PLA 3428

Marketplace > Florida Gulf Coast University > PLA 3428 > Contracts Introduction Chapter Notes
Amber Sharpnack
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About this Document

These notes brief the chapter that needed to be read for the homework assignments. I have also added the questions required for the homework assignment.
Professor Paul Asfour
Class Notes
contracts, Law, CommonLaw, breach, damages




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This 4 page Class Notes was uploaded by Amber Sharpnack on Tuesday August 9, 2016. The Class Notes belongs to PLA 3428 at Florida Gulf Coast University taught by Professor Paul Asfour in Fall 2016. Since its upload, it has received 19 views.


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Date Created: 08/09/16
Contracts PLA 3428 – CRN 80818 Professor Paul Asfour Introduction “Review this section as you work through the rest of the book, it will help keep an analytical process firmly in mind.” Six Steps for analyzing the law of contracts: 1. Determining the Applicable Law (Choice of Law) 2. Contract Formation 3. Contract Enforceability 4. Plaintiff’s Allegation of Defendant’s Breach of Contracts 5. Defendant’s Response to the Allegations 6. Plaintiff’s Remedies for Breach *page 2 Breach of Contract Roadmap Step 1: Determining the Applicable Law Choice of law: determination of which law applies where more than one state is involved in a transaction, where conflicting laws exist within a state, or where federal law may preempt state law. Interstate Transaction: spanning several states; also known as multistate transaction. Uniform Commercial Code: comprehensive compilation of rules drafted by the American Law Institute & National Conference of Commissioners on Uniform State Laws that includes a number of topics which becomes the law of a given state upon enactment by legislature & governor signature. Common Law: the body of law & jurisprudential theory; derived from customs, usage, and judicial decisions recognizing and enforcing custom and usage. Step 2: Contract Formation Offer: manifestation of willingness to enter into a bargain, which justifies another person in understanding that their assent to that bargain is invited & will conclude it. Offeror: the party who extends an offer. Offeree: the party who accepts the offer. Offer for a Bilateral Contract: offeror makes a promise to entice the offeree to make a promise. (A promise for a promise). Offer for a Unilateral Contract: offeror makes a promise to entice the offeree to perform. (A promise for a performance). Consideration: consideration for the promisor’s promise & consideration for the promisee’s promise.  Performance consideration is the “price” sought by the promisor for their promise.  A contract has 2 considerations.  An offer is a promise for consideration. Acceptance: offeree’s manifestation of assent to the terms of the offer. Step 3: Contract Enforceability *Focus shifts from freedom of contract formation to government regulation. Recission: the abrogation of the contract; usually involves returning the parties to their pre-contract positions.  Abrogation: termination; cancellation.  This happens once a contract has already been formed. Reformation: judicial remedy designed to revise a writing to conform to the real agreement of intention of the parties. Step 4: Plaintiff’s Allegation of Defendant’s Breach of Contract Promisor: the party who makes the promise. Promisee: the party to whom a promise is made. Step 5: Defendant’s Response to the Plaintiff’s Allegation of Breach No Breach-Compliance: the defendant responds to the plaintiff’s allegations of breach. No Breach-Excuse: the defendant responds to the plaintiff’s allegations of breach stating, “although I am not complying with the terms of the contract, my nonperformance was excused, and therefore I have not breached.” No Breach-Justification: the defendant responds to the plaintiff’s allegations of breach stating, “although I am not complying with the terms of the contract, my nonperformance was justified by your breach of contract, and therefore I have not breached.” No Breach-Terminated Duty: the defendant responds to the plaintiff’s allegations of breach stating, “although I am not complying with the terms of the contract, my duty to perform the contract has been terminated, and therefore I have not breached.” Accord: a contract to pay a stated amount in order to discharge a prior obligation that is uncertain to its existence or amount. Satisfaction (performance) of the accord contract is required before the duties under the original contract are terminated. Satisfaction: the performance of the accord contract. Once the accord contract has been performed, the original contractual duties are terminated. Release: the intentional relinquishment of a right. Statute of Limitations: provides for a specified period of time within which a cause of action must be brought. Cause of Action: the theory upon which relief should be granted. Should be distinguished from the remedy sought if the cause of action could be maintained. Remedy: the relief sought if a cause of action can be maintained. Step 6: Plaintiff’s Remedies for the Defendant’s Breach of Contract Expectation Interest: protecting the nonbreaching party’s expectation interest places them in the position they would have been had the contract been fully performed. Damages: compensation awarded by a court to a party who has suffered loss or injury to rights or property. Specific performance: a remedy whereby a court directs a party to do a specific act. Injunction: an order to a party to refrain from a specific act. Reliance Interest: protecting the nonbreaching party’s reliance interest places them back to the position they were in prior to relying on the breaching parties’ promise. Restitution Interest: protecting the nonbreaching party’s restitution interest places the breaching party back to the position they were in prior to receiving the benefit conferred upon them by the nonbreaching party. Third-Party Beneficiary: who will be benefited by the performance of a conract.  Donee, creditor, or incidental beneficiary.  Incidental beneficiary has no enforceable rights. Assignment: the transfer of a contractual right. Delegation: the empowering of another by the obligor to perform the obligor’s contractual duty. Back of Chapter Questions for Assignment: Fill in the Blanks: 12. Protecting the nonbreaching party’s “_______” places that party in as good a position as if both parties had fully performed the contact according to its terms. 13. Protecting the nonbreaching party’s “_______” places that party in the position that he or she was in before relying on the other’s promise. 14. Protecting the nonbreaching party’s “_________” places the breaching party in the position he or she was in before receiving the benefit. Short Answer: 2. List four different settings in which a choice of law question may arise. 3. List the elements that constitute an offer for a bilateral contract. 4. Distinguish an offer for a bilateral contract from an offer for a unilateral contract. 6. List the elements that constitute an acceptance for a bilateral contract. 7. List four events that could occur between the offer and the attempted acceptance that would render the attempted acceptance ineffective. 8. The legislature of the judiciary may seek to protect what three categories of policy grounds by precluding the enforcement of a contract?


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