Judicial remedies

a) Common Law Offer The Legal Concepts of an Offer An offer is a conditional promise made by the offeror to the offeree. The offeror will not be bound by her or his promise unless the offeree responds to it in the manner sought by the offeror. That is why it is said the offer is conditional. In the other word, the definition of an offer is a statement made by an offeror that he or she is prepared to be bound to a contractual position-the first essential element to the meeting of the minds of the

Scenario 1 Most of businesses would like to add a liquidated damages clause (or agreed damages clause) in their business contracts, as it protects the parties of contract not to being any breach. Also it helps to provide certainty, avoid disputes and provide an incentive to enter into the contracts. The aim of this clause is to compensate the losses of innocent party by the guilty party, but not penalize the party in breach by requesting party in breach too many fines. To deter Mode Designs for any

WRENCH LLC. v. TACO BELL CORP. Doctrine of implied in fact contract: This consists of obligations arising from a mutual agreement and intent to promise where the agreement and promise have not been expressed in words. Such contracts are implied from facts and circumstances showing a mutual intent to contract, and may arise by the conduct of the parties. In this case Taco Bell had stolen the idea of Thomas Rinks and Joseph Shields and gave them the idea that Taco Bell will be hiring them for doing

definition of a contract and the essential elements necessary to form a valid contract. It will briefly discuss breach of contract and the difference between a material breach and a nonmaterial breach of contract. Examples of legal and equitable remedies available for breach of contracts will be highlighted. Also, legal excuses for nonperformance or other grounds for discharge of contracts will be addressed. Finally, three types of common contracts personally and professionally encountered will

DAMAGES IN THE FORM OF PENALTIES Section 73 and 74 of the Indian Contracts Act, 1872 (referred as ICA, 1872 hereinafter) provide the basic structure for enforcement, non performance and breach of contract. This paper deals with provisions regarding “penalties” on breach of the contract by one of the parties. Since sections 73 and 74 of the ICA, 1872 talk about the damages to be awarded in the case of breach and such damages shall be predefined in the contract while drafting the same and such pre

Cases Comm 315 Case1 : King v.BioChem Therapeutic Inc. Fact: Dr King is hired by Bio Chem. She signed a special contract that specifies a period of probation. During this period, she can be let go but you have to be known the wrong behavior in order to be able to rectify it. If the wrong behavior persists then your contract will be terminated. Issue: Is the termination of the contract of Dr King for fault justified? Ratio Employer version of facts: 1st meeting: after 5 months and a half

Section 74: Compensation for breach of contract where penalty stipulated for Section 74 lays down that “When a contract has been broken, if a sum is named in the contract as the amount be paid in case of such breach, or if the contract contains any other stipulation by way of penalty, the party complaining of the breach is entitled, whether or not actual damage or loss is proved to have been caused thereby, to receive from the party who has broken the contract reasonable compensation not exceeding

Essay A When interpreting a contract, the literal approach is often taken to determine what was meant by the contract. The literal approach to contract interpretation means that when looking over a contract, words are assigned their ordinary meaning. Words are interpreted literally, as they ordinarily would be, regardless of the presumed context. However, giving words their ordinary meaning without adjusting for the context of the situation may cause problems. An example would be when a business

1.3 Remedies available under breach of contract 1.3.1 Breach of a Contract A breach of contract is where a party to a contract fails to perform, precisely and faithfully, his obligations under the contract. This can take numerous forms for example, the failure to supply goods or perform a service as agreed. Breach of contract may be either actual or anticipatory.  Actual breach occurs where one party refuses to form his side of the bargain on the due date or performs incompletely. For example:

entire security deposit of $2,500. The landlord has ignored your written requests for the return of your security deposit. You have since heard from other tenants of your landlord that he is notorious about refusing to return security deposits. What remedy do you have available under Massachusetts law? You need to research case law and/or statutory law.” Outline: Security Deposit Framework: Security Deposit Definition Money aside from the payment of rent that a landlord requires a tenant to pay