Contracts I Outline
Answering Exam Questions
When writing issue statements on test; don’t be as in depth as a case brief issue.
Can answer in outline form
Double points for citing a section AND correctly describing what’s going on there in the section (how relevant)
Always cite §§24,26,33 for “offer”
Points for asking the issue, citing sections, applying sections, etc…
Will get a point for a thorough conclusion that follows your logic
On the final, give page numbers of cases cited if not major cases
For creation of contract (O+A+C) cite §22
Injured party will always argue that a contract should be enforced
Elements of a Contract (§60?)
Work to be done
Contract Format K = O + A + C
Title- top of the contract to call the document what it is
Parties and date- sometimes may abbreviate the name (i.e. seller). This is also located near the top
Recitals- background facts
Body- promises by each party
Signatures- at bottom
Promises for dates
Contracts always have a future element. Not simply an agreement.
Are there moral obligations to uphold a contract?
Economics of remedies (pg 7)
i. Argues that we are better off if we have a party breach a contract
ii. Does not factor in legal fees or frustration pains (pain and suffering) suffered by the party who is breached upon.
iii. Says that there is no loss if we put someone back to where they were prior to the breach through payment.
Enforcing a contract (remedies) Restatement §§344-45. Requires a contract and a breach of that contract
i. §344- The purpose of remedies is to protect the interests of
1. Expectation- remedy of this will put someone in the same place they would be at the fulfillment of the contract.
only) Only used when the legal remedy would be inadequate
o Given only by judges, not juries
o Generally employ the “clean hands” doctrine
o Suing in equity opens you up to being scrutinized
o If specific performance is impossible to grant, bringing a claim under this will ultimately fail.
c) Restoration of a Thing to Prevent Unjust Enrichment- replevin
d) Awarding Money to Prevent Unjust Enrichment- (legal damages)
o Punitive damages generally not given for a breach of contract.
o Nominal damages might be given if the breach can be proven but the damages cannot.
e) Declaring the Rights of the Parties- Declaratory Judgment Action
f) Enforcing an Arbitration Award-
Arbitration is established by contract between the two contracting parties. Could be stipulation in the original contract.