Contracts 1 Learning Objectives September 25, 2023

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Indiana University, Purdue University, Indianapolis *

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Apr 3, 2024

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Contracts 1 Learning Objectives Monday, September 25, 2023 The learning objectives for this class are: Doctrinal Objectives Waiver 1. Know the definition of waiver in the common law of contracts 2. Know what a covenant is 3. Know what a condition is 4. Know what is required to change a covenant in an existing contract 5. Know what is required to change/remove a condition from an existing contract 6. Understand how a court determines whether a contract term is a covenant or a condition 7. Understand how and under what conditions a party can reinstate a previously waived condition Mistake in Transcription 8. Know the formal and functional names of this kind of mistake 9. Know the elements of a claim asserting mistake in transcription 10. Know the legal remedy if a claim of mistake in transcription is proven 11. Know the standard of proof a party must meet to establish a claim of mistake in transcription 12. Understand why that standard of proof is not the standard ordinarily used in civil cases 13. Understand why the Statute of Frauds does not apply to a claim of mistake in transcription Unilateral Mistake 14. Know the formal and functional names for this kind of mistake 15. Know the elements of a claim asserting unilateral mistake 16. Understand the impact of using the two-element test, three-element, and four-element tests (discussed in DePrince) on the likelihood that a claim of unilateral mistake will be successful 17. Know the legal remedy if a claim of unilateral mistake is proven 18. Understand the dialectic tension that underlies all three versions of mistake Remote Class: Explain the concept of "mutual mistake" as distinct from unilateral mistake; State the four elements of mutual mistake and apply them to fact patterns; Distinguish between express assumptions and tacit assumptions and explain how those are treated differently;
Explain how "different in substance" is contrasts with "different in quality" and apply those concepts to the fact pattern in the discussion board; Apply limitations on the mutual mistake doctrine, including that related to judgment of one party, that related to one party's willful ignorance, and that related to risk allocation by agreement. Know the Definition of Waiver in the Common Law of Contracts Objective 1: Definition of Waiver - In the common law of contracts, a waiver refers to the voluntary relinquishment of a known right. In contractual settings, it often means that one party has decided to forgo a condition or breach, allowing the other party to perform under the contract without fulfilling that specific term. Know What a Covenant Is Objective 2: Definition of Covenant - A covenant is a promise or agreement made by one party in a contract to either do or refrain from doing something. Covenants are enforceable terms and are integral to the contract's substance. Know What a Condition Is Objective 3: Definition of Condition - A condition is a stipulation or prerequisite in a contract that must be fulfilled for the parties to be obligated to proceed with the contract's principal agreements. Failure to meet a condition often nullifies the contract or certain obligations within it. Know What is Required to Change a Covenant in an Existing Contract Objective 4: Changing a Covenant - To change a covenant in an existing contract, both parties usually need to agree to the amendment in writing. It may also require consideration (something of value) to be exchanged. Know What is Required to Change/Remove a Condition from an Existing Contract Objective 5: Changing/Removing a Condition - Similarly to covenants, changing or removing a condition from an existing contract generally requires the mutual consent of both parties, often in writing. Depending on the jurisdiction, it may also require the exchange of consideration.
Understand How a Court Determines Whether a Contract Term Is a Covenant or a Condition Objective 6: Covenant vs. Condition - Courts generally look at the language of the contract and the intent of the parties to determine whether a term is a covenant or a condition. Words like "must," "shall," or "condition precedent" often indicate a condition, whereas phrases like "agree to" might indicate a covenant. The significance of the term to the contract as a whole may also be considered. Understand How and Under What Conditions a Party Can Reinstate a Previously Waived Condition Objective 7: Reinstating a Waived Condition - Reinstating a previously waived condition generally requires mutual consent, and this consent usually needs to be in writing. Parties may also specify in the original contract the conditions under which a waived term can be reinstated. Depending on the jurisdiction, case law may permit reinstatement if the original reason for the waiver has ceased to exist. Know the Formal and Functional Names of This Kind of Mistake Objective 8: Formal and Functional Names - The formal name for this kind of mistake is "Mistake in Transcription" or "Scrivener's Error." Functionally, it is often referred to as a clerical error or typo that misrepresents the agreed terms between the parties. Know the Elements of a Claim Asserting Mistake in Transcription Objective 9: Elements of the Claim - The elements typically required to assert a claim of mistake in transcription are: 1. The existence of an agreement between the parties. 2. A written transcription of that agreement that contains an error. 3. The error was not intentional or due to gross negligence. 4. The error substantially changes the meaning or obligations set out in the agreement. Know the Legal Remedy if a Claim of Mistake in Transcription is Proven Objective 10: Legal Remedy
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