LAW 201 Lecture Notes - Lecture 8: Puffery, Specific Performance

• School: Queen's University
• Department: Law
• Course: LAW 201
• Professor: Mary Jo- Maur

Document Summary

David hume- sto(cid:396)(cid:455) of t(cid:449)o highl(cid:455) (cid:396)atio(cid:374)al fa(cid:396)(cid:373)e(cid:396)s that ha(cid:448)e (cid:272)(cid:396)ops (cid:396)ead(cid:455) to ha(cid:396)(cid:448)est. (cid:862)you(cid:396) (cid:272)o(cid:396)(cid:374) is ripe today and mine will be tomorrow, so it is profitable if i help you today and you help me tomorrow. I have no kindness for you and know you have as little for me. If i labour with you upon expectation of return i know i should be disappointed. Here then, i leave you to labour alo(cid:374)e. th(cid:396)eat (cid:373)e i(cid:374) the sa(cid:373)e (cid:449)a(cid:455)(cid:863) Lack of trust: non-simultaneous exchange impossible among strangers, contracts allow us to create binding obligations making non-simultaneous transactions together. The gap: the(cid:396)e is al(cid:449)a(cid:455)s a gap (cid:271)et(cid:449)ee(cid:374) o(cid:374)e pe(cid:396)so(cid:374)"s pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e a(cid:374)d a(cid:374)othe(cid:396)"s pe(cid:396)fo(cid:396)(cid:373)a(cid:374)(cid:272)e. The (main) function of a contract: to permit people who are strangers to one another to make non-simultaneous exchanges. What is a contract: an agreement that the law will enforce, agreement + legal enforcement = contract.