ADMS 2610 Lecture Notes - Lecture 4: Electronic Industries Alliance, Equitable Remedy, Reasonable Person
9 Dec 2017
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Chapter 12 - the extent of contractual rights. The only person who can incur liability for a contract is the person who signs the contract. If you don"t sign a contract, then you have no stake in that contract. Prior interests in land: (having an existing lease on a house before purchasing it) Tort: buying a used toyota car(you can sue the manufacturer if the brakes don"t work. Collateral warranty - suing a paint company that killed your dog but it was the contractor who purchased the paint. Employment - limited liability clause protects workers even though contract was just between the company and its customers. You can always assign your benefit (td can choose to assign your home mortgage to bmo without your permission). You cannot assign a liability. (transferring your mortgage to your brother. Novation - getting a contract allowing you to step out of a contract and another person to step in for you.
