Contracts Commons^™

Reconsidering Consideration In The Restatement (Third) Of Suretyship, Peter A. Alces

William & Mary Law Review

No abstract provided.

Controlling The Franchiser's Right To Cancel The Franchise Relationship: Fairness As An Underlying Principle, Mirja Huovinen

LLM Theses and Essays

Franchises are critically important arrangements for the distribution of goods and services in the US. It has been estimated that a third of all retail sales occur through franchising. Franchising is a cooperative arrangement, in which the franchisor and the franchisee are both investors. The franchiser contributes its name, expertise, and resources. But franchisee adds its own investment, gains its own ownership and vitally interested in the success of the venture. Chapter II introduces generally the chief elements of a franchise relationship, and special problems and alternative solution concerning franchise cancellation situations. In a franchise relationship, the franchisor acts as …

Resolving Commercial Disputes In China: Foreign Firms And The Role Of Contract Law, Roy F. Grow

Northwestern Journal of International Law & Business

It is not my intention to explicate China's Foreign Economic Contract Law (FECL), the Joint Venture Law (JVL), or the Foreign Enterprise Income Tax Law (FEITL). The analysis of these codes has been done in great detail by others.' Instead, I will examine the actual behavior of the most important actors governed by this set of laws-the Chinese and foreign enterprises that work with one another and which must find ways to resolve their competing claims. In this study, I will examine the tension between Chinese and foreign firms by focusing on several specific and limited questions having to do …

The Duty Of Good Faith And The Security Of Performance, Howard Hunter

Research Collection Yong Pung How School Of Law

John Carter's paper provides a good discussion of many fundamental problems associated with the satisfactory enforcement of contractual obligations. In reviewing the various subtopics of the conference, he posits a scale of 'security' for performance that runs from simple reliance on the promisor's word to that of the chattel or real property mortgage with maximum rights of self-help in the promisee. In this commentary on his paper, I will argue that the greatest security for any promisee remains the word of the promisor and that this is so for reasons beyond those of honour. First, the duty of good faith …

1991 Revisions To Articles 3 And 4 Of The Uniform Commercial Code, Timothy Fisher

Faculty Articles and Papers

No abstract provided.

Opportunism And Trust In The Negotiation Of Commercial Contracts: Toward A New Cause Of Action, G. Richard Shell

Vanderbilt Law Review

In a complex economy, many business transactions take place sequentially-one party performs in part or in full before the other side executes its side of the bargain. Sequencing has many advantages, but it creates an unfortunate incentive. Having received its benefit from the bargain, the party who is to perform last may be tempted to renege on its obligations. Law and economics scholars often describe the conduct of a reneging party in these situations as "opportunistic." The reneging party, perceiving an opportunity to increase its gain, yields to temptation and refuses to perform. The law of contract helps to diminish …

Privity, Products Liability, And Ucc Warranties: A Retrospect Of And Prospects For Illinois Commercial Code 2-318, 25 J. Marshall L. Rev. 177 (1991), Steven Bonanno

UIC Law Review

No abstract provided.

Commentary On Pitfalls Of Force Majeure Clauses, Howard Hunter

Research Collection Yong Pung How School Of Law

Professor Yates has covered in considerable detail the major problem areas in the use of force majeure clauses. His work is admirable in its technical details as well as in its use for the practitioner. I wish to add but a few brief comments about 2 chronic difficulties with the enforcement of force majeure clauses. To some extent these difficulties are common to all cases that involve excuse by way of frustration, impossibility, or commercial impracticability. The first has to do with foreseeability and the second has to do with post-excuse remedies. It has become a truism that a force …

A Relational Theory Of Default Rules For Commercial Contracts, Robert E. Scott

Faculty Scholarship

The relationship between legal rules and the strategies that commercial parties use to deal with risk is among the most important and least understood topics in law and economics. Organizational theorists have generally confined their analyses to the nature of the firm and other permanent relationships. Academic commercial lawyers, in turn, have been far less venturesome than their corporate colleagues in applying fundamental economic insights. Not surprisingly, therefore, we know very little about the inner workings of most commercial relationships. For these reasons (and more) I applaud efforts to integrate economic insights and legal structures, exemplified by Clay Gillette's imaginative …

Nelson V. Logan Motor Sales, Inc.: Providing Damages For Breach Of The Implied Warranty Of Merchantability, Chad A. Cicconi

West Virginia Law Review

No abstract provided.

Consequential Damages In Contracts For The International Sale Of Goods And The Legacy Of Hadley, Arthur Murphey

Law Faculty Scholarship

No abstract provided.

Buyer's Remedies And Warranty Disclaimers: The Case For Mistake And The Indeterminacy Of U.C.C. Section 1-103, David Frisch

Law Faculty Publications

The primary purpose of this article is not to end the longstanding malaise surrounding section 1-103, but to illuminate its existence and encourage a serious reconsideration of the extent to which common law and equitable principles serve as sources of law in resolving cases under the Code. A greater appreciation of the importance of this issue to commercial law development will result in an approach which makes the law more predictable and which better facilitates the essential need to keep the Code responsive to commercial practice. Part II of this article introduces the context within which section 1-103 will be …

"Bad Faith Breach": A New And Growing Concern For Financial Institutions, Susan D. Gresham

Vanderbilt Law Review

A majority of courts have determined that all contracts impose on the parties to the contract an implied covenant of good faith and fair dealing in their actions with each other. This implied covenant prohibits a contracting party from injuring another party's right to receive the benefits of the agreement. Breach of this implied covenant usually creates a cause of action based on contract rights. Moreover, California courts maintain that breach of the implied covenant of good faith and fair dealing creates a tort action as well. The California courts initially limited these tort actions to claims against insurance companies. …

Choice Of Law Issues In International Sale Of Goods Contracts, Bayu Seto Hardjowahono

LLM Theses and Essays

The growing quality and quantity of today’s international sales of goods activities is unquestionably influential and vital to the shaping of current national economies throughout the world.

The present work will explore the issue of choice of law questions in international sale of goods contracts by examining the approaches of the Vienna 1980 Convention, the Hague 1955 Convention and the 1985 Draft Convention. The present work concludes by showing that it is advisable for a forum to use the 2^nd Restatement approach in such a situation because of the degree of flexibility it offers in international trade practices.

Interpretation Of Contemporary Commercial Agreement A Comparative Study, Qing Cai

LLM Theses and Essays

Many disputes arising under commercial agreements turn upon the interpretation of the agreement. Interpretation is the process by which a court ascertain in meaning that it will give to the language used by the parties in determining the legal effect of an existing agreement. It also involves questions as to whether additional duties or excuses will be implied. In addition, interpretation can be relevant to contract formation since courts may be forced to determine the meaning of communication used by the parties before they determine whether the parties have reached an agreement. To some extent, how the judges interpret the …

Quantum Meruit And Building Contracts: Part I The Quantum Meruit Concept, Howard Hunter, J. W. Carter

Research Collection Yong Pung How School Of Law

The aim of this article is to discuss the restitutionary principles applicable to quantum meruit claims in building contracts. In the first part we consider the concept itself and identify the contexts in which such a claim is pursued. In the second part of the article, to be published in the next issue of the JCL, attention is directed, principally, to one issue, namely whether the contract price constitutes a ceiling on the amount recoverable under a quantum meruit claim following breach by the defendant.

Quantum Meruit And Building Contracts: Part Ii Does The Contract Price Put A Ceiling On A Recovery Via A Quantum Meruit?, Howard Hunter, J. W. Carter

Research Collection Yong Pung How School Of Law

The question posed by the title of this part of the article has been the subject of a substantial amount of commentary by American legal scholars and has been a central issue in a number of cases, almost all of them involving building contracts. The problem is easy to state: P and D have an agreement for P to construct a building for a total consideration of $X. When P is partially finished, D breaches. If the contract price and the value of the work to date roughly coincide, there is usually little problem in determining P's recovery. The standard …

Good Faith In Calling Demand Notes And In Refusing To Extend Additional Financing, William H. Lawrence, Robert D. Wilson

Indiana Law Journal

No abstract provided.

Finding The Lost Volume Seller: Two Independent Sales Deserve Two Profits Under Illinois Law, 22 J. Marshall L. Rev. 363 (1988), Jerald B. Holisky

UIC Law Review

No abstract provided.

The Decline Of The Contract Market Damage Model, James J. White

Articles

In law school every American lawyer learns that the conventional measure of damages for breach of a sales contract is the difference between the contract price and the market price. Even before these rules were embodied in the Uniform Sales Act and the Uniform Commercial Code (UCC), they were a staple of Anglo-American common law. They remain the rules with which a court would determine damage liability not only for the sale of goods, but also for the sale of real estate and securities.

The Decline Of The Contract Market Damage Model, James J. White

University of Arkansas at Little Rock Law Review

No abstract provided.

Article 29(2) Of The United Nations Convention On Contracts For The International Sale Of Goods: A New Effort At Clarifying The Legal Effect Of "No Oral Modification" Clauses, Robert A. Hillman

Cornell Law Faculty Publications

No abstract provided.

Court Adjustment Of Long-Term Contracts: An Analysis Under Modern Contract Law, Robert A. Hillman

Cornell Law Faculty Publications

No abstract provided.

Unconscionability - Real Property Lawyers Confront A New Problem, 21 J. Marshall L. Rev. 1 (1987), Robert Kratovil

UIC Law Review

No abstract provided.

Conflict And Cooperation In Long-Term Contracts, Robert E. Scott

Faculty Scholarship

This Article uses the techniques of modern decision analysis and game theory to analyze the decisionmaking strategies of parties to long-term commercial contracts. Most parties to long-term contracts initially allocate the risks of future contingencies and agree – either explicitly or implicitly – to adjust this initial risk-allocation scheme if unanticipated events occur. Once contract risks are initially distributed, however, each party's self-interest may compel them to evade their responsibility rather than adjust cooperatively as originally agreed. Visualizing the interactions between contracting parties as an iterated prisoner's dilemma, the Author attempts to clarify the dynamics of this adjustment process. Professor …

The Chaos Of The "Battle Of The Forms": Solutions, John E. Murray, Jr.

Vanderbilt Law Review

Whatever may be said of the lack of certainty, stability, and predictability in many areas of the law, chaos rarely is discovered. Unfortunately, we have now reached that point in matters involving attempts by innumerable buyers and sellers to make contracts through an exchange of printed forms. Because printed forms will continue to be the written evidence of the overwhelming majority of attempted contracts in America,' this chaos threatens the institution of contract in our society. There should be no doubt that"chaos" is an accurate characterization of the state of the law in the "battle of the forms" arena. Courts …

Inventory Lender As A Good Faith Purchaser For Value: Priority Problems In U.C.C. 2-702

Washington and Lee Law Review

No abstract provided.

The Lemon And Its Rejection: Code Language And Its Misconstruction, Janet A. Flaccus

University of Arkansas at Little Rock Law Review

No abstract provided.

Is Revision Due For Article 2, Fairfax Leary Jr., David Frisch

Villanova Law Review (1956 - )

No abstract provided.

Dependent Covenants In Commercial Leases: Hindquarter Corp. V. Property Development Corp., Tracy R. Antley Faust

Seattle University Law Review

This Note demonstrates that the Washington Supreme Court correctly applied contract principles to the Hindquarter lease dispute. The Note first reviews the historical development of dependent covenants in both residential and commercial contexts. After setting out this important background information, the Note examines Hindquarter and the three factors that influenced the Washington Supreme Court in following the dependent covenants trend: (1) material inducements to execute the lease; (2) the intent of the parties; and (3) equity and policy considerations. The Note concludes that, even though the landlord prevailed in Hindquarter, commercial tenants stand to gain most from the supreme …