GNG 4170 Lecture 3: Lecture 3
16 Jun 2016
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Document Summary
Contract law: forcing the agreement that the parties themselves have made. Freedom of contract: agree about anything someone else and the other party is agreeing with. It is the power to set the rules with a legal relationship. Common law principle in contract law is from the historical courts. Equitable principle; fairness and justice often give a legal relief that if you only think of common law principle, you would lose. To sue someone for breach of contract means they broke one of the terms of the contract. If the statements are made before, they are not terms of the contract, When someone makes a stamen of fact in a contract, it is called a representation, or also known as a professional opinion. If the facts were found untrue, it would be a misrepresentation. These facts need to be important and have a significant part to be placed in the contract.
