Remedies for Breach of Contract Essay

Have you ever been done wrong? Have you ever been done wrong under a contract and faced sufficient damages causing a loss? Chapter 18 focuses on contract remedies, and how damages to a party are compensated. When a party breaches a contract, under the law the court can give the injured party an equivalent of what the promised performance would have rewarded. The two cases I chose to discuss are the Arrowhead School District No. 75, Park County, Montana v. James A. Klyap, Jr. case and the Parker v. Twentieth Century-Fox Film Corp. case. Both of these cases provide us with a very good explanation of different types of damages, and how the court came to a conclusion based off of the different scenarios. Throughout the remainder of this article, it will briefly discuss the details of each case, the similarities and differences among them, and how your business clients can use these cases to strategically prevent future legal issues of similar nature.

Contract law has set out to provide a healthy trade environment. Contracts are promises enforced by the law, with the support of something of value that has a legal purpose. It is an agreement between parties, formed by the elements: offer and acceptance, with all parties having the capacity to perform obligations enforceable by law. There are instances where the enforcement of a contract would bring about gains or losses to society and commerce.

Explain why it is important to have an intention to create legal relations when making a contract and why is consideration of the parties to the agreement necessary-:

It is agreed by many, if not all, that the compensatory principle is the ruling principle in breach of contract

Under common law, the most important remedy was a suit for breach of warranty against those who sold unfit goods.

statement of fact when it is made by one who knows best as it carries

Pat was very frustrated because she wanted to purchase a home but lacked the funds or credit to do so even though Pat was expecting shortly to receive a one-half million dollar final installment payment for some land she sold several years earlier. Dan knew that Pat was very interested in purchasing a home and approached Pat with a proposal to assist Pat in buying a home. Dan told Pat that he would help Pat with the financing. After finding the home she wanted to buy for $250,000, Dan and Pat orally agreed that Dan would purchase the home and "when you come up with the money, I (Dan) will sell it to you (Pat) for $250,000 plus a fair commission to be determined."

The Seller will not be liable in any way for any delay, non-delivery or default in shipment due to labor disputes, transportation shortage, delays in receipt of material, priorities, fires, accidents and other causes beyond the control of the Seller or its suppliers. If the Seller, in its sole judgment, will be prevented directly or indirectly, on account of any cause beyond its control, from delivering the Goods at the time specified or within one month after the date of this Agreement, then the Seller will have the right to terminate this Agreement by notice in writing to the Purchaser, which notice will be accompanied by full refund of all sums paid by the Purchaser pursuant to this Agreement.

• Explain that the remedies can be covered in court enforceable undertakings or ordered by the Court.

would give 100 £. The company then deposited 1,000 £ in a bank to show

The purpose of this discussion essay is to prove that there was a breach of contract, that there was tort liability involved, that there was a guest innkeeper relationship, a possible landlord tenant relationship and bailment involved.

Equity has been described as a ‘mysterious creature’ that lies distinctly alongside the common law. In considering the statement, there is an almost linear reversal in which the remedies in equity procure a type of right not necessarily available in the common law. This peculiar jurisdiction has created consistent controversy especially in regards to the fusion of the common law and equity. To understand further, this essay will consider the relationship between equity and the common law. The development of equity alongside the common law through its history and intention, and application in case law will be imperative in the discussion of the statement. In conjunction with an analysis of fusion, it will become apparent that equitable damages were enlivened, separate to, in unfair circumstances where no rights/damages existed within the common law. In trying to tread the murky waters of the distinction yet the procedural fusion of equity and common law, the contention of this essay becomes apparent. Effectively, this essay aims to highlight that the history, intention, application and fusion fallacies regarding equity, all which point to an assertion that rights in equity are indeed the product of its remedies. Whether they are merely ‘two streams of jurisdiction, though they run in the same channel, run side by side and do not mingle their waters’, is yet to be seen.

other in order to form a contract, the value of the consideration need not be

The contract in English law enhances principle of freedom of contract. Indeed, the terms of the contract is freely determined and agreed by the parties. However, there are various circumstances in which additional terms may be implied into the agreement. The aim of implied terms is often to provide a supplement to a contractual agreement in the interest of making bargain more effective, to achieve fairness between the parties and to alleviate hardship.

Contract Law Case Study Both the parties in the question have come to a problematic situation