BUS 393 Lecture Notes - Lecture 4: Syllogism, Undue Influence, Liquidated Damages

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 393
• Professor: Richard Yates

Document Summary

Dispute that arise with respect to the start of the contractual relationship. When there is a disagreement over the meaning of a term used in a contract, the normal approach taken by the court is to apply the most reasonable interpretation. Parol evidence rule requires that where the terms of the agreement are clear and unambiguous, and no outside extrinsic evidence will be considered that contradicts those clear terms. Exemption clauses - an area where disputed contracted terms often arise. Exemption clause must be brought to other part"s attention. For example: a sign in the hotel saying not responsible for lost or stolen good . To overrule a clauses, the court will first look at the construction of the contract. Second, the courts will determine whether the clause is valid in terms of there being no undue influence and both parties were in equal bargaining position at the time of creation of the contract.