Philosophy 2080 Lecture Notes - Lecture 5: Punitive Damages, Non Est Factum, The Dealer
5 Feb 2013
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Week 5 - contract: failure to contract and privity. Chapter 10 (7th edition)/chapter 11 (8th edition)- failure to create an. * my note: in the following situations the failure of the parties to create a contract is due to the need for another essential element of contract. Parties can agree to create rights and obligations, but for all elements of the contract there must be a meeting of the minds , in latin, consensus ad idem. Parties must know what they are agreeing to. Given the traditional notion that parties are free to agree to what they like, and the courts are not to interfere, the principles that allow a party to avoid its obligations are limited. Mistake: must go to essential element or fundamental term of the contract, mistake the result of a party"s negligence may not defeat contract.
