ADMS 2610 Chapter Notes - Chapter 2: Punitive Damages, Fundamental Breach, Fiduciary
6 Sep 2016
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Document Summary
If the answer is yes to all six, a legal relationship in contract will probably exist. We will investigate consideration, capacity and legality in subsequent chapters. Numbers 1 and 2 are vital, but a failure in 3 or 4 can be saved by 5. If not, there is no contract, but rather a gratuitous promise which (almost invariably) cannot be enforced in court. If the answer to both is no, the contract is in danger of repudiation by the other party. A no in the first and second case would render the contract illegal and unenforceable, and in the third case, no would prevent you from launching or defending a suit for enforcement. Is the written agreement subject to: a. fulfilment of a condition precedent: any possible implied term, collateral agreement? d. subsequent agreement, if not, then the written agreement should stand on its own, protected by the parole evidence rule.
