LAW 724 Chapter Notes - Chapter 7: United Nations Convention On Contracts For The International Sale Of Goods, Parol Evidence Rule, Product Liability
15 Apr 2014
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Chapter 7 negotiating the international sales of goods: stare decisis to stand by a previous decision , civil law tradition is far more prevalent around the world than is the common law system. Intention on the part of each party to create a legal relationship. 1: must be an offer and an unequivocal acceptance of the offer, parties to the contract must have legal capacity to make a contract, contract must be made for a legal purpose. Enforceability of contracts: may meet requirements above but still not enforceable due to defects, defects include undue influence, duress, mistake, and misrepresentation. Innocent party of the contract may sue for damages: third parties of contract cannot sue, was amended for specific situations such as insurance contracts. Breach of warranty and breach of condition: breach of contract: failure to perform a less important or non-essential term of the contract, breach of condition: a breach of important or essential term of the contract (pg 187)
