BLAW 2301 Lecture Notes - Lecture 15: Business Matters
Document Summary
A verbal contract isn"t worth the paper it is written on. The purpose: make business matters more predictable. Judicial activism versus judicial restraint: judicial restraint a court takes a passive role and requires the parties to fulfill whatever obligations they agreed to, whether the deal was wise or foolish. Makes the law less flexible but more predictable: judicial activism court will ignore certain provisions of a contract, or an entire agreement. All shapes and sizes: big or small, public or private, enter contracts without knowing it, contract law can have large impacts on society. Contracts defined: a contract is a promise that the law will enforce. Is it certain that the defendant promised to do something. If she did promise, is it fair to make her honor her word. If she did not promise, are there unusual reasons to hold her liable anyway. Jilted california accountant sues his date for in expenses new.
