Also, the promissor has to expect that, upon the promise, it will induce action by the promisee. The promissor cannot say it wasn't part of the contract. Why does this doctrine exist? The doctrine exists to protect a person who was promised something and there is no essential elements of a contract that exists. Did the court reach the proper decision in the case you discussed?
In this fact scenario Davey Jones' had contractual rights under the common law. In your assignment you should have discussed what impact the "as is" provision would have had on the parties. From Davey Jones' perspective, there should have been discussion regarding whether there were any representations made to him about the ship, such as, did it have low nautical kilometers or whether it was of good, fair or poor quality? Whether or not there has been a breach of an implied term that the ship will function as it should will be determined by the nature of the failure of the ship, if any. One needs to consider whether the sinking of the ship was an isolated event that was easily corrected, or whether it was a serious flaw that would require costly repairs.
Factors for consideration a. law’s non-logical implications in interpretation what parties would’ve agreed to (ex. Haines: duration and scope of contract) - policy: at-will doctrine in employment: policy - would’ve agreed to terms had they anticipated situation - had in mind, but didn’t express it b. context - what is the objective of the contract? Is it ambiguous? Ex. Spaulding v. Morse (369): stop yearly payment to trust during time in armed services - enforce according to terms if unambiguous, consider context if terms are ambiguous - not only context at time of contract formation, but also what happened AFTER ⇨ changed circumstances - why look at context?
- The court must decide if the advertisement constituted an offer, and if the mistake is genuine and can be grounds to avoid the contract due to a unilateral mistake of fact. What is the court’s reasoning? (Might include reliance on precedent, statutory interpretation and legislative history & societal considerations) - The court first looked at whether an advertisement can be considered an offer. The court differentiates between advertisements that are in fact invitations for individuals to negotiate an offer, and advertisements that ask for a specific action without further communication and leave nothing for negotiation. The first category of advertisements is not considered offers, while the latter is not.
The Supreme Court has ruled that a professional gambler is entitled to deduct gambling losses as a trade of business expense. The fact that the taxpayer did not offer goods or services to others did not preclude characterization of the activities as a trade or business, rather, the appropriate “business” test was that the taxpayer must be involved in the activity with continuity and regularity and the taxpayer’s primary purpose for engaging in the activity must be for income or profit. (R.P. Groetzinger,87-1 USTC 9191 480 U.S. 23, 107 S Ct. 980 1987, 9622, 771 F.2d 269 (CA-7 1985). Since the expenses for lodging and travel you incurred were related to non business activities they would be considered personal expenses and as such cannot be deducted on his tax
The decision handed down by the arbitrator is final and binding to those in dispute. Failure to follow the arbitrator’s decision will result in the offending party will be subject to
The question is whether the competition is covered by statutes implying that refund of competition fee is attainable should the competitor be unfit to take on the competition. Jenny cannot take the law of frustration in consideration, because it will only bring an advantage to the opposite party, and not to her, hence the law of frustration sets aside the contract. Law There are three reasons why terms may be implied into a contract. First, where a term is required to give business efficacy to the contract these terms are generally known as terms implied by fact. Secondly, where terms flow from the obligations of the common law or statute these terms are called terms implied by law.
The unconscionability doctrine as applied in Jones v. Star Credit Corp. is moreover based on an equitable standard, whereas, as illustrated by the Virginia cases, the unconscionability doctrine in the Virginia Courts system is viewed more narrowly and based on more of a legal standard absent duress, fraud and coercion. ANALYSIS 1. Jones v. Star Credit Corp. Standard of Unconsionability The price term of an agreement is implied in the
According to S27(2) he must do so in good faith, without any notice of the hire purchase agreement. Although S27 has strengthened the commercial position of the private purchaser in order to limit the application of the
Laura Ballestas BU-201-OL1 Prof. H. Mayer September 14, 2014 Business Law 201 Module One Assignment: Check Your Understanding: 1. Define the following terms: Constitutional law: Law that is based on the U.S. Constitution and the constitutions of the various states. Statutory law: The body of the law enacted by legislative bodies (as opposed to constitutional law, administrative law, or case law). Ordinances: Laws passed by a local governing unit, such as a municipality or a county. Administrative law: The body of law created by administrative agencies (in the form of rules, regulations, orders, and decisions) in order to carry out their duties and responsibilities.