One of the limitations on the damages a plaintiff can recover for breach of contract is that the plaintiff has a duty to keep the damages as low as reasonably possible. This lesson explores this principle, which is called mitigation. The lesson can be run either as an introduction to mitigation or as a review after you have completed your study.
Read moreThe damages a plaintiff can recover for breach of contract are limited to those that are reasonably foreseeable at the time of contracting. This lesson explores the concept of foreseeability from its origin in the Hadley rule to more contemporary applications. The lesson can be run either as an introduction to foreseeability or as a review after you have completed your study.
Read moreThese terms are the building blocks of contracts. This lesson provides an overview of them. After running the lesson, you should be able to distinguish the different terms, recognize them when you find them in a contract, understand the legal effects that follow from their use, and decide which one is appropriate to use when drafting a term in a contract.
Read moreThis lesson considers probably the most common type of implied term, that of good faith. At common law, courts often supply a term requiring the parties to exercise "good faith" or "good faith and fair dealing". Moreover, for the sale of goods, the UCC provides that every contract is subject to good faith requirements, which cannot be disclaimed by agreement.
Read moreContracts are sometimes referred to as express or implied. Implied contracts are in turn often referred to as contracts implied-in-fact or implied-in-law. The difference between express contracts and implied-in-fact ones results from the conduct of the party in making the promise constituting the assent to the contract. Implied-in-law or quasi-contracts, however, are not really contracts at all, but merely a remedy in restitution. This lesson explores the nature of express contracts, implied-in-fact and implied-in-law contracts.
Read moreThis lesson looks at formal preliminary agreements, often titled letters of intent or memorandums of understanding.
Read moreRescission is one of the ways in which contractual duties are discharged. This lesson discusses mutual rescission, rescission by one of the parties, and rescission as a remedy used by a court. This lesson may be used to introduce you to the subject or to review it.
Read moreThis lesson is second in a series that takes a look at formation of agreements governed by the U.N. Convention on the International Sale of Goods (CISG). The CISG provides a uniform set of rules for international sales contracts where the parties are located in different signatory countries. There are 11 separate provisions on contract formation under the CISG. This lesson sets out the basic requisites for determining whether an offer exists, when it is accepted and how to address a battle of the forms if the CISG applies. The general attributes of domestic contracts and other CISG contracts are covered in other lessons.
Read moreThis lesson provides an overview of Contract Law, including the sources of Contract Law. The lesson can be run either as an introduction to Contract Law or as a review any time during or after your study of Contract Law.
Read moreThis lesson helps the user identify when a contract is an installment contract and understand the special rules that apply to installment contracts. The lesson is confined to installment contracts for the sale of goods, focusing on UCC sec. 2-612.
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