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Collateral Contract
A collateral contract is usually a single term contract, made in consideration of the party for whose benefit the contract operates agreeing to enter into the principal or main contract, which sets out additional terms relating to the same subject matter as the main contract. For example, a collateral contract is formed when one party pays the other party a certain sum for entry into another contract. A collateral contract may be between one of the parties and a third party. It can also be epitomized as follows: a collateral contract is one that induces a person to enter into a separate "primary" contract. For example, if X agrees to buy goods from Y that will, accordingly, be manufactured by Z, and does so on the strength of Z's assurance as to the high quality of the goods, X and Z may be held to have made a collateral contract consisting of Z's promise of quality given in consideration of X's promise to enter into the main contract with Y. Elements of a valid collateral con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Implied-in-fact Contract
An implied-in-fact contract is a form of an implied contract formed by non-verbal conduct, rather than by explicit words. The United States Supreme Court has defined "an agreement 'implied in fact'" as "founded upon a meeting of minds, which, although not embodied in an express contract, is inferred, as a fact, from conduct of the parties showing, in the light of the surrounding circumstances, their tacit understanding." Although the parties may not have exchanged words of agreement, their conduct may indicate that an agreement existed. For example, if a patient goes to a doctor's appointment, the patient's actions indicate that they intend to receive treatment in exchange for paying reasonable/fair doctor's fees. Likewise, by seeing the patient, the doctor's actions indicate that they intend to treat the patient in exchange for payment of the bill. Therefore, it seems that a contract actually existed between the doctor and the patient, even though nobody spoke any words of agree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barry V Davies
''Barry v Davies'' 000EWCA Civ 235 [20001 WLR 1962 is an English contract law case which established and confirmed that auction goods being sold without a reserve must be sold to a genuine highest bidder. The principle is subject to exceptions based on illegality, such as illicit goods, a seller without the right to sell the goods, or a buyer without the money or right to buy the goods. Facts The auctioneer withdrew goods from an auction (the goods had no reserve price) when a ''bona fide'' (good faith, that is in this case genuine) bid of £200 was effective. The court held that an auctioneer is bound to sell to the highest bidder where there is no reserve price, and cannot withdraw the sale simply because the price is too low. A bid in an auction, the possibility of acceptance of the bid, unless the bid is withdrawn, and the benefit to the auctioneer of driving up the price bid is sufficient consideration. The contract in an auction is between the buyer and the seller, not the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Parol Evidence Rule
The parol evidence rule is a rule in the Anglo-American common law that governs what kinds of evidence parties to a contract dispute can introduce when trying to determine the specific terms of a contract. The rule also prevents parties who have reduced their agreement to a final written document from later introducing other evidence, such as the content of oral discussions from earlier in the negotiation process, as evidence of a different intent as to the terms of the contract. The rule provides that "extrinsic evidence is inadmissible to vary a written contract". The term "parol" derives from the Anglo-Norman French ''parol'' or ''parole'', meaning "word of mouth" or "verbal", and in medieval times referred to oral pleadings in a court case. The rule's origins lie in English contract law, but has been adopted in other common law jurisdictions; however there are now some differences between application of the rule in different jurisdictions. For instance, in the US, a commo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Law
In law, common law (also known as judicial precedent, judge-made law, or case law) is the body of law created by judges and similar quasi-judicial tribunals by virtue of being stated in written opinions."The common law is not a brooding omnipresence in the sky, but the articulate voice of some sovereign or quasi sovereign that can be identified," ''Southern Pacific Company v. Jensen'', 244 U.S. 205, 222 (1917) (Oliver Wendell Holmes, dissenting). By the early 20th century, legal professionals had come to reject any idea of a higher or natural law, or a law above the law. The law arises through the act of a sovereign, whether that sovereign speaks through a legislature, executive, or judicial officer. The defining characteristic of common law is that it arises as precedent. Common law courts look to the past decisions of courts to synthesize the legal principles of past cases. ''Stare decisis'', the principle that cases should be decided according to consistent principled rules s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Donoghue V Stevenson
was a landmark court decision in Scots delict law and English tort law by the House of Lords. It laid the foundation of the modern law of negligence in Common law jurisdictions worldwide, as well as in Scotland, establishing general principles of the duty of care. Also known as the "Paisley Snail" or "Snail in the Bottle" case, the case involved Mrs May Donoghue drinking a bottle of ginger beer in a café in Paisley, Renfrewshire. Unknown to her or anybody else, a decomposed snail was in the bottle. She fell ill, and subsequently sued the ginger beer manufacturer, Mr Stevenson. The House of Lords held that the manufacturer owed a duty of care to her, which was breached because it was reasonably foreseeable that failure to ensure the product's safety would lead to harm to consumers. There was also a sufficiently proximate relationship between consumers and product manufacturers. Prior to ''Donoghue v Stevenson'', liability for personal injury in tort usually depended upon sho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shanklin Pier Ltd V Detel Products Ltd
''Shanklin Pier Ltd v Detel Products Ltd'' 9512 KB 854 is a leading judgment on the subject of collateral contracts in English contract law. In it the High Court of Justice King's Bench Division used the principle of collateral contracts, to create an exception to the rule of privity of contract where a contract may be given consideration by entering into another contract. Facts Shanklin Pier Ltd hired a contractor to paint Shanklin Pier. They spoke to Detel Products Ltd about whether a particular paint was suitable to be used, and Detel assured them that it was, and that it would last for at least seven years.Beale (2002) p.55 On the basis of this conversation Shanklin Pier Ltd instructed the contractors to use a particular paint, which they did. The paint started to peel after three months, and Shanklin Pier attempted to claim compensation from Detel Products. Judgment McNair J's judgment read: See also *Privity in English law Privity is a doctrine in English contract l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privity Of Contract
The doctrine of privity of contract is a common law principle which provides that a contract cannot confer rights or impose obligations upon any person who is not a party to the contract. The premise is that only parties to contracts should be able to sue to enforce their rights or claim damages as such. However, the doctrine has proven problematic because of its implications for contracts made for the benefit of third parties who are unable to enforce the obligations of the contracting parties. In England and Wales, the doctrine has been substantially weakened by the Contracts (Rights of Third Parties) Act 1999, which created a statutory exception to privity (enforceable third party rights). Third party rights Privity of contract occurs only between the parties to the contract, most commonly contract of sale of goods or services. Horizontal privity arises when the benefits from a contract are to be given to a third party. Vertical privity involves a contract between two part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. Some jurisdictions allow contract law to overrule the status of legal tender, allowing (for example) merchants to specify that they will not accept cash payments. Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not. Some jurisdictions may include a specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency. Some jurisdictions may forbid or restrict payment made by other than ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consideration
Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts (contracts by deed). The concept has been adopted by other common law jurisdictions. The court in '' Currie v Misa'' declared consideration to be a “Right, Interest, Profit, Benefit, or Forbearance, Detriment, Loss, Responsibility”. Thus, consideration is a promise of something of value given by a promissor in exchange for something of value given by a promisee; and typically the thing of value is goods, money, or an act. Forbearance to act, such as an adult promising to refrain from smoking, is enforceable if one is thereby surrendering a legal right. Consideration may be thought of as the concept of value offered and accepted by people or organisations entering into contracts. Anything of value promised by one party to the other when making a contract can be treated as "consideration": for example, if A contracts to buy a car from B for $5,000, A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jean Domat
Jean Domat, or Daumat (30 November 162514 March 1696) was a French jurist. Life Domat was born at Clermont in Auvergne. He studied the humaniora in Paris, where he befriended Blaise Pascal, and later law at the University of Bourges. Domat closely sympathized with the Port-Royalists, and on Pascal's death he was entrusted with the latter's private papers. After Domat's promotion in 1645, he practised law in Clermont and was appointed a crown prosecutor there in 1655. In 1683, he retired from this office with a pension from Louis XIV to concentrate on his scholarship. Principal work Together with Antoine Dadin de Hauteserre, Antoine Favre and the Godefroy brothers, Domat was one of the few later French scholars of Roman law of international significance. He is principally known from his elaborate legal digest, in three quarto volumes, under the title of ''Lois civiles dans leur ordre naturel'' (1689, with 68 later editions), an undertaking for which Louis XIV settled on him ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Third-party Beneficiary
A third-party beneficiary, in the law of contracts, is a person who may have the right to sue on a contract, despite not having originally been an active party to the contract. This right, known as a ''ius quaesitum tertio'', arises when the third party ('' tertius'' or ''alteri'') is the intended beneficiary of the contract, as opposed to a mere incidental beneficiary (''penitus extraneus''). It vests when the third party relies on or assents to the relationship, and gives the third party the right to sue either the promisor (''promittens'', or performing party) or the promisee (''stipulans'', or anchor party) of the contract, depending on the circumstances under which the relationship was created. A contract made in favor of a third party is known as a "third-party beneficiary contract." Under traditional common law, the ''ius quaesitum tertio'' principle was not recognized, instead relying on the doctrine of privity of contract, which restricts rights, obligations, and liabil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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