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Reading in Implied Terms in Contracts
Every contract is incomplete, and the courts find that some contract terms are implied even if the parties do not express them. These implied terms include the following: [more…]
Found in: Politics & Government -
Finding Contract Modifications
Parties frequently modify (change the terms of) the contract after they make it. Technically, a contract modification is a new contract requiring consideration. When one party promises to give something [more…]
Found in: Politics & Government -
Limitations to Damages from Breach of Contract
The plaintiff in a breach of contract case faces an uphill battle in proving the case. Any damages the court awards are limited by the following considerations: [more…]
Found in: Politics & Government -
Determining Whether a Transaction Is within the Statute of Frauds
To determine whether a transaction is within the statute of frauds and therefore must be evidenced by a writing, check whether the transaction is any of the following: [more…]
Found in: Politics & Government -
Recognizing Common Contract Defenses
A contract defense is any legal challenge to a contract’s enforceability. Following are common contract defenses: [more…]
Found in: Politics & Government -
Excusing Contract Performance Due to Impracticability
When an unforeseen event makes performance of a contract obligation impracticable (impossible or unrealistic), the seller may claim that its nonperformance is excused. To analyze a claim of impracticability [more…]
Found in: Politics & Government -
Checking for Contract Conditions
In contract law, a condition is an event that must occur before some performance is due. Parties may claim that they aren’t in breach of contract because the condition that had to occur before they had [more…]
Found in: Politics & Government -
Calculating Expectation Damages
According to the rule of the expectancy, a non-breaching party is entitled to damages that put the non-breaching party in the position it would’ve been in had the contract been fully performed. To use [more…]
Found in: Politics & Government -
Essential Elements of Contract Formation
A contract is a legally enforceable exchange of promises. Contract formation requires the following three essential ingredients: [more…]
Found in: Politics & Government -
Finding an Enforceable Obligation
If you’re faced with the question of contract formation in your legal dealings, take the following three steps to find the obligation in the parties’ interaction: [more…]
Found in: Politics & Government -
Extrinsic Evidence: Grasping the Parol Evidence Rule
Parol evidence is evidence of terms or understandings extrinsic to (not included in) a written contract. Courts follow the parol evidence rule to determine whether the evidence is admissible. Here’s the [more…]
Found in: Politics & Government -
Identifying Third Parties to Contracts
A third party is a person who’s not a party to the contract. Common law recognizes three significant third parties: [more…]
Found in: Politics & Government -
Contract Law For Dummies Cheat Sheet
To be successful in contract law, you need to know the rules and be able to analyze fact situations in the light of those rules. This Cheat Sheet introduces some of the most important concepts in contract [more…]
Found in: Politics & Government -
Understanding Contract Law when Negotiating Business Deals
Negotiating deals in the business world requires a fundamental understanding of contract law. For starters, in the United States, unless you have a specific arrangement to the contrary, no deal is closed [more…]
Part of the Series Companion Content from the E-Book Negotiation Skills In A Day For DummiesFound in: Law
