COMMERCE 4SD3 Lecture Notes - Lecture 8: Condition Subsequent, Condition Precedent, Parol Evidence Rule

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Ce(cid:396)tai(cid:374) statues (cid:396)e(cid:395)ui(cid:396)e (cid:272)e(cid:396)tai(cid:374) (cid:272)o(cid:374)t(cid:396)a(cid:272)ts to (cid:271)e i(cid:374) (cid:449)(cid:396)iti(cid:374)g, (cid:271)ut it(cid:859)s (cid:374)ot al(cid:449)a(cid:455)s legall(cid:455) (cid:396)e(cid:395)ui(cid:396)ed. Ho(cid:449)e(cid:448)e(cid:396), it(cid:859)s al(cid:449)a(cid:455)s (cid:271)est to ha(cid:448)e i(cid:374) (cid:449)(cid:396)iti(cid:374)g (cid:271)e(cid:272)ause: Requirement of writing: easier to win case, less likel(cid:455) that the(cid:396)e(cid:859)ll (cid:271)e dispute i(cid:374) futu(cid:396)e. What is contained in contract (i. e. i made a contract to sell a water bottle) Form; contract is verbal, written or combination of both. What does contract look like? (i. e. dropped the contract on the floor; actual paper. It(cid:859)s i(cid:373)po(cid:396)ta(cid:374)t to ha(cid:448)e i(cid:374) (cid:449)(cid:396)iti(cid:374)g (cid:271)e(cid:272)ause (cid:449)e fo(cid:396)get details o(cid:448)e(cid:396) ti(cid:373)e. Construing: courts are asked to interpret the contract. Statute of frauds (cid:396)e(cid:395)ui(cid:396)es so(cid:373)e (cid:272)o(cid:374)t(cid:396)a(cid:272)ts to (cid:271)e i(cid:374) (cid:449)(cid:396)iti(cid:374)g othe(cid:396)(cid:449)ise it(cid:859)s u(cid:374)e(cid:374)fo(cid:396)(cid:272)ea(cid:271)le if it falls under this statute. It(cid:859)s (cid:272)o(cid:373)pletel(cid:455) (cid:448)alid (cid:271)ut (cid:455)ou (cid:272)a(cid:374)(cid:859)t sue on it which means parties can avoid their duties if it was done orally. As a result, statute has been restricted to cover 5 contracts:

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