COMM 393 Study Guide - Final Guide: Contributory Negligence, Single Person, Price Fixing
Document Summary
Common law: based on theory of precedent", stare decisis. Judges must look at past cases with similar or identical facts from a higher or equal to decide new cases. Courts of chancery gave equitable remedies: specific performance, injunctions, rescission, equity may provide a remedy if: (all required, $ is inadequate to compensate, subject matter of contract is unique, act quickly, act with clean hands . Contract law: contract, mutual exchange of promises or a promise for an act, k law is very flexible but must contain six elements, intent. All parties must intend to be bound by their promises. The law presumes intent to exist where parties are strangers (and in commerce: arms length transaction. Presumption is the opposite in k between close friends/family. Where the presumptions are rebutted, the court will ask: would a reasonable person looking at outward conduct of the parties say they showed intent, carlill v. carbolic smoke ball, offer.
