QST LA 245 Chapter Notes - Chapter 9: Judicial Restraint, Contract, Judicial Activism
23 Jul 2018
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Contracts exit to make business matters more predictable. Judicial restraint is a court"s reluctance to interfere with the terms of a contract and to enforce whatever terms the parties agreed to. Judicial activism is a court"s willingness to change or ignore a contract that it perceives as unjust. A contract is a promise that the law will enforce. In a bilateral contract, both parties make a promise. In a unilateral contract, one party makes a promise that the other party can accept only by doing something. In an express contract, the two parties explicitly state all important terms of their agreement. In an implied contract, the words and conduct of the parties indicate that they intended an agreement: today, the hottest disputes about implied contracts often arise in the employment setting with at-will agreements. A contract is executory when one or more parties have not fulfilled their obligations. A contract is executed when all parties have fulfilled their obligations.
