Overview: Contracts and Product Liability

Bernie a resident of Richmond, Virginia decides to sale his 2006 Ford Fusion for $13,000.00 and places an ad in his local newspaper on February 1st. After several weeks without any inquiries, Vivian contacts Bernie on March 1st stating she will pay him $12,000.00 for the car. Bernie arranges to meet with Vivian on March 5th to complete the deal. Vivian comes to Bernie’s house on March 10th and says she will give Bernie $12,500.00 for the car; but she needs three additional weeks to come up with the money. Bernie agrees but only if Vivian puts down a deposit. Vivian agrees and Bernie drafts an agreement stated the sale will must take place no later than March 31st. Vivian reads and signs the agreement and

Shalene Kolchek can sue Val Porter, a dealer who sells and sold the spa to Kolchek to recover Litisha’s injuries under the product liability for misrepresentation. She can also sue Great Lakes to recover Litisha’s injuries under the product liability based on negligence and strict product liability.

People who do business as a sole proprietor or in a partnership are liable for the torts committed by them and for torts committed by the business and its agents. The best way to avoid tort liability is to set establish their business as a corporation or a limited liability company. A corporation or limited liability company will act as its own entity for all intent and purposes. When it becomes it own entity you will have to separate your finances from that of the business. Remember that it does not matter what type of business organization you select,

Products liability is another area of tort law that impacts American society. Under product liability manufacturers, suppliers, Distributors, and retailers can be held liable for injuries caused buy their products.

An agreement between two or more competent parties for goods or services is typically referred to as a contract; and those contracts typically are governed by contract law. There are two general sets of law that govern contracts; the common law of contracts and the Uniform Commercial Code (UCC). These two sets of law have similarities and differences; however the provisions of the UCC usually take precedence over the common law of contracts. (Cheeseman, pg. 171). The common law of contracts was developed from state court decisions and precedent established by those court decisions as applied to other cases. (Cheeseman pg. 170) Although the majority of the law comes from state court decisions, there is a small portion that is based on

In this age of endless lawsuits and litigation from everyone suing everyone else, one must ask the question “where does product liability end and consumer responsibility begin?” This question has been further complicated by occurrences that stretch to the most far-reaching ends of this spectrum, the spectrum ranging from strict product liability of the company to complete consumer responsibility. On the strict product liability of the company side, we have the cigarette industry where the CEOs of the largest cigarette companies denied that their product was liable for the cause of addiction. Almost all consumers know that the ingredient nicotine in cigarettes is addictive, due to extensive scientific testing and reports on this fact. What

Contingent Liability is a condition that refers to the possibility of a future event happening and addresses the responsibility of the party liable should the event take place. In today’s real estate market both sellers and buyers may have contingencies stated in the terms and conditions for selling and purchasing a home. The most common contingent liability are guarantees to debt.

If I had made a written contract with you 18 years ago to support your business for $100.00 per year as long as you were in business, you would expect to be paid $100.00 per year for that contract. Now suppose I had only paid you $100.00 a year twice in the past 18 years. For 14 years of the remaining 16 years, I decided all you needed to be paid was $35.00 of your contracted $100.00 each year. As you became more and more agitated that your contract was not being honored, I finally paid you $50.00 and $60.00 respectively for the past two years. On top of that, I boasted to everyone who would listen that I had put historic amounts of money into your business over those two years. Never mind, I had shortchanged you hundreds of dollars (most

This paper will be discussing the concept of strict liability along with the concept of absolute liability within the R. v. Sault Ste. Marie (1978). In doing so, this paper will explain how strict liability offences strike a good balance between the policy rationales for absolute liability in regulatory offences and the criminal law principle that only the morally blameworthy may be punished, and how the courts have interpreted absolute liability offence and their relationship with the Charter of Rights.

The development process in World Wide Concepts Inc. products also has liability in possible manufacturing defects. To minimize this risk, World Wide Concepts needs to consider if their practices meet industry

A tort is a wrongful act or an infringement of a right other than under a contract leading to civil legal liability. Torts differ from contract law in terms of the voluntariness of entering into an agreement. When two or more parties create a contract, each party agrees to give up something in return for receiving some benefit. Parties to a contract voluntarily and knowingly assume duties and obligations to others. By contrast in tort law, duties are imposed by the law without the express consent or even the awareness of those involved.

Contract law is generally considered a matter of state law, meaning each state in the United States has its own system of law and common law to oversee the creation of contracts and enforce the obligations set by these contracts. There is no all-encompassing federal law which regulates each states contract laws, hence creating variation and controversy between the different states laws. While there are many types of business contracts, one common contract most people will encounter in the workforce is a non-compete agreement.

According to the text, it says that “liability for contracts formed by an agent depends on how the principal is classified and on whether the actions of the agent were authorized or unauthorized. Principals are classified as disclosed, or undisclosed” (Roger, LeRoy, & Miller). “A partially disclosed principal is a principal whose identity is not known by the third party know that the agent is or may be acting for a principal at the time the contract is made” (Roger, LeRoy, & Miller). “An undisclosed principal is a principal whose identity is totally unknown by the third party, and the third party has no knowledge that the agent is acting in an agency capacity at the time the contract is made” (Roger, LeRoy, & Miller). In my paper, I will

A. The difference of base. Contractual liability means that due to the breach of duty, contractual collateral obligation of contract or violates the "contract law" provisions of the obligations. Finding out a contractual liability has to be in terms of contract. However, there are no needs for liability, which point liability are monetary damages that are sought from the offending party. They are intended to compensation the injured party for the injured suffered.

Introduction: In this assignment I will go over a few legal terms in relation to contract law. I will also talk about a few precedents that help explain the law.