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Final

Final Exam notes Includes all lecture notes that will be useful to the topics that will be covered on the exam

24 Pages
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Department
Business
Course Code
BU231
Professor
Shelley Mc Gill

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Description
Question 3 What does the contract mean Interpretation construing1222010 52800 PM Meaning of a contractplain meaningthe actual meanliberal approachwhat did the people meantrade usagewhat the industry says it meanscontra proferentum New CPA in favor of consumers11Implied Terms reasonablenesscustom sale of Goods ActWhen there is unclear terms we go with the party who had nothing to do with making the termsSale of Goods ActGoods SaleCaveat EmptorImplied Conditions and WarrantiesTitle s 13you are the owner and you can sue for breach of contractDescription s 14 if the product you get is not what the description says is a breach of contractMerchantable Quality s 15Sample s16 you are allowed to open the packaging of a good to inspect itRole of Exemption Clause s53this act says you cannot say that you are not liable for any injuryParol Evidence DefinedInformation about negotiations outside the written contractExamples earlier drafts of the contract previous offers letter emails phone messagesThis is often used to prove misrepresentation duress mistake etcParol evidence rulethis evidence may not be used to add a term to an existing written contractProper use of the Entirety Clause Exceptions to this ruleWritten contracts is not the entire agreementOutside term is a collateral contract has its own considerationCondition precedent to the contractHow does the Parol evidence Rule fit with the law of allowing implied termsimplied terms comes in because you didnt talk about it you assumed it was thereExemption ClausesIf a party seeks to rely on one it should be brought to the attention of the other partyLikely to be upheld if it is industry practice When dealing with the public sufficient notice needs to be givenContra preferentum will apply Question 4Who can I SueWho should you sue when a promise that was made to you was not fulfilledThe people who made the promisesThe parties to the contractThis relationship between parties to a contract is calledo Privity of ContractExceptions to the Privity RuleTort Vicarious performance someone else does it for youNovation end of contract o Tool around the privity rule o Novation is to kill all previous legal obligation
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