Law Commons^™

Foreign Exchange Sales And The Law Of Contracts: A Case For Analogy To The Uniform Commercial Code, Michael L. Manire

Vanderbilt Law Review

The purpose of this Note is not only to benefit lawyers and judges who must confront these problems in litigation, but also to provide participants in the foreign exchange market with both an understanding of the legal significance of their procedures for making foreign exchange contracts and an appreciation of the possible legal consequences of the mistakes that inevitably result from fol-lowing these procedures.

Private Legislation And The Duty To Read--Business Run By Ibm Machine, The Law Of Contracts And Credit Cards, Stewart Macaulay

Vanderbilt Law Review

"It will not do for a man to enter into a contract, and, when called upon to abide by its conditions, say that he did not read it when he signed it, or did not know what it contained."' This rallying cry often is sounded in contracts and restitution opinions. Sometimes it makes such good sense that it is axiomatic. Yet in common with all grand slogans, there are situations where it just doesn't fit...

More difficult are the cases where the words are there in a form more easily read and understood but where the probabilities are very great …

Conditions In The Law Of Contracts, Merton Ferson

Vanderbilt Law Review

Conditions Precedent. Assume that a contract obligation has been created. When must the obligor perform? In some cases the performances become due by the mere passing of time. But in many cases the performances are not due until and unless certain other events have occurred. These other events are called conditions precedent. Until they come to pass the obligor may omit performance with impunity. He has an excuse that will stay the hand of the obligee. The case of Shadforth v. Higgin' will serve to illustrate the immunity of an obligor when a condition precedent has not come to pass. …

Fiction Vs. Reality, In Re Contracts: A Survey, Merton Ferson

Vanderbilt Law Review

The history and philosophy of the law of contracts has more than academic interest. In some areas there are conflicts and uncertainties that stem from the history, nature and basis of contracts.

Primitive men were familiar with the idea of possession which later developed into the idea of ownership. And a person having possession or ownership has long been able to transfer whatever he had to another.'

But the idea of obligation was a later development in the advance of civilization. Obligations, as we know them at present, would have been incredible to primitive men. Do we fully realize even …

Bases For Master's Liability And For Principal's Liability To Third Persons, Merton Ferson

Vanderbilt Law Review

The law with regard to principal and agent grew up as part and parcel of the law of contracts. The law with regard to master and servant grew up as part and parcel of the law of torts. Each one takes its origin far back in the history of the common law.

Agents were used in an early day to effect livery of seisin, to create covenants, and to carry on commercial transactions. The terms "principal" and "agent" may be of modern origin. But the power of one person to bind another in legal transactions was familiar in the days …