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Commercially Impracticable
The doctrine of impracticability in the common law of contracts excuses performance of a duty, where the said duty has become unfeasibly difficult or expensive for the party who was to perform. Impracticability is similar in some respects to the doctrine of impossibility because it is triggered by the occurrence of a condition which prevents one party from fulfilling the contract. The major difference between the two doctrines is that while impossibility excuses performance where the contractual duty cannot physically be performed, the doctrine of impracticability comes into play where performance is still physically possible, but would be extremely burdensome for the party whose performance is due. Thus, impossibility is an objective condition, whereas impracticability is a subjective condition for a court to determine. Typically, the test U.S. courts use for impracticability is as follows (with a few variations among different jurisdictions): See e.g. ''Transatlantic Financin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Common Law
Common law (also known as judicial precedent, judge-made law, or case law) is the body of law primarily developed through judicial decisions rather than statutes. Although common law may incorporate certain statutes, it is largely based on precedent—judicial rulings made in previous similar cases. The presiding judge determines which precedents to apply in deciding each new case. Common law is deeply rooted in Precedent, ''stare decisis'' ("to stand by things decided"), where courts follow precedents established by previous decisions. When a similar case has been resolved, courts typically align their reasoning with the precedent set in that decision. However, in a "case of first impression" with no precedent or clear legislative guidance, judges are empowered to resolve the issue and establish new precedent. The common law, so named because it was common to all the king's courts across England, originated in the practices of the courts of the English kings in the centuries fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Contract
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jurisdictions, civil law jurisdictions, or mixed-law jurisdictions that combine elem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Impossibility Of Performance
The doctrine of impossibility or impossibility of performance or impossibility of performance of contract is a doctrine in contract law. In contract law, impossibility is an excuse for the nonperformance of duties under a contract, based on a change in circumstances (or the discovery of preexisting circumstances), the nonoccurrence of which was an underlying assumption of the contract, that makes performance of the contract literally impossible. For example, if Ebenezer contracts to pay Erasmus £100 to paint his house on October 1, but the house burns to the ground before the end of September, Ebenezer is excused from his duty to pay Erasmus the £100, and Erasmus is excused from his duty to paint Ebenezer's house; however, Erasmus may still be able to sue under the theory of unjust enrichment for the value of any benefit he conferred on Ebenezer before his house burned down. The parties to a contract may choose to ignore impossibility by inserting a hell or high water cla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Objectivity (philosophy)
The distinction between subjectivity and objectivity is a basic idea of philosophy, particularly epistemology and metaphysics. Various understandings of this distinction have evolved through the work of countless philosophers over centuries. One basic distinction is: *Something is subjective if it is dependent on a mind ( biases, perception, emotions, opinions, imagination, or conscious experience). Solomon, Robert C.br>"Subjectivity" in Honderich, Ted. '' Oxford Companion to Philosophy'' (Oxford University Press, 2005), p.900. If a claim is true exclusively when considering the claim from the viewpoint of a sentient being, it is subjectively true. For example, one person may consider the weather to be pleasantly warm, and another person may consider the same weather to be too hot; both views are subjective. *Something is objective if it can be confirmed independently of a mind. If a claim is true even when considering it outside the viewpoint of a sentient being, then it may be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Case Citation
Case citation is a system used by legal professionals to identify past court case decisions, either in series of books called reporters or law reports, or in a neutral style that identifies a decision regardless of where it is reported. Case citations are formatted differently in different jurisdictions, but generally contain the same key information. A legal citation is a "reference to a legal precedent or authority, such as a case, statute, or treatise, that either substantiates or contradicts a given position." Where cases are published on paper, the citation usually contains the following information: * Court that issued the decision * Report title * Volume number * Page, section, or paragraph number * Publication year In some report series, for example in England, Australia and some in Canada, volumes are not numbered independently of the year: thus the year and volume number (usually no greater than 4) are required to identify which book of the series has the case report ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
United States Court Of Appeals For The District Of Columbia Circuit
The United States Court of Appeals for the District of Columbia Circuit (in case citations, D.C. Cir.) is one of the thirteen United States Courts of Appeals. It has the smallest geographical jurisdiction of any of the U.S. courts of appeals, and it covers only the United States District Court for the District of Columbia, U.S. District Court for the District of Columbia. It meets at the E. Barrett Prettyman United States Courthouse in Washington, D.C., Washington, DC. The D.C. Circuit is often considered to be second only to the United States Supreme Court, U.S. Supreme Court in status and prestige, and it is sometimes unofficially termed "the second highest court in the land". Because its jurisdiction covers the District of Columbia, it tends to be the main federal appellate court for issues of U.S. United States administrative law, administrative law and United States constitutional law, constitutional law. Four of the nine current Supreme Court justices were previously judg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Risk Of Loss
Risk of loss is a term used in the law of contracts to determine which party should bear the burden of risk for damage occurring to goods after the sale has been completed, but before delivery has occurred. Such considerations generally come into play after the contract is formed but before buyer receives goods, something bad happens. Under the Uniform Commercial Code (UCC), there are four risk of loss rules, in order of application: # Agreement - the agreement of the parties controls # Breach - the breaching party is liable for any uninsured loss even though breach is unrelated to the problem. Hence, if the breach is the time of delivery, ''and'' the goods show up broken, then the breaching rule applies risk of loss on the seller. # Delivery by common carrier other than by seller. ##Risk of loss shifts from seller to buyer at the time that seller completes its delivery obligations ##If it is a destination contract ( FOB (buyer's city)), then risk of loss is on the seller. ##If it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Restatement (Second) Of Contracts
The Restatement (Second) of the Law of Contracts is a legal treatise from the second series of the Restatements of the Law, and seeks to inform judges and lawyers about general principles of contract common law. It is one of the best-recognized and frequently cited legal treatisesAcceptable citation format under the Bluebook: "Restatement (Second) of Contracts § ___ (Am. L. Inst. 1981)." The Bluebook: A Uniform System of Citation § 12.8.5 (Columbia Law Review Ass'n et al. eds., 17th ed. 2000) in all of American jurisprudence. Every first-year law student in the United States is exposed to it, and it is a frequently cited non-binding authority in all of U.S. common law in the areas of contracts and commercial transactions. The American Law Institute began work on the second edition in 1962 and completed it in 1979; the version in use at present has a copyright year of 1981. For an explanation of the purpose of a restatement of law, see Restatement of the Law. Use and commentary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Uniform Commercial Code
The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States. While largely successful at achieving this ambitious goal, some U.S. jurisdictions (''e.g.'', Louisiana and Puerto Rico) have not adopted all of the articles contained in the UCC, while other U.S. jurisdictions (''e.g.'', American Samoa) have not adopted any articles in the UCC. Also, adoption of the UCC often varies from one U.S. jurisdiction to another. Sometimes this variation is due to alternative language found in the official UCC itself. At other times, adoption of revisions to the official UCC contributes to further variation. Additionally, some jurisdictions deviate from the official UCC by tailoring the language to meet their unique ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
General Average
The law of general average is a principle of maritime law whereby all stakeholders in a sea venture proportionately share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency. For instance, should the crew jettison some cargo overboard to lighten the ship in a storm, the loss would be shared ''pro rata'' by both the carrier and the cargo-owners. In the exigencies of hazards faced at sea, crew members may have little time in which to determine precisely whose cargo they are jettisoning. Thus, to avoid quarreling that could waste valuable time, there arose the equitable practice whereby all the merchants whose cargo landed safely would be called on to contribute a portion, based upon a share or percentage, to the merchant or merchants whose goods had been tossed overboard to avert imminent peril. General average traces its origins in ancient maritime law, and the principle remains within the admiralty law of most countrie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Admiralty Law
Maritime law or admiralty law is a body of law that governs nautical issues and private maritime disputes. Admiralty law consists of both domestic law on maritime activities, and conflict of laws, private international law governing the relationships between private parties operating or using ocean-going ships. While each legal jurisdiction usually has its own legislation governing maritime matters, the international nature of the topic and the need for uniformity has, since 1900, led to considerable international maritime law developments, including numerous Multilateralism, multilateral treaties. Admiralty law, which mainly governs the relations of private parties, is distinguished from the law of the sea, a body of International law, public international law regulating maritime relationships between nations, such as navigational rights, mineral rights, and jurisdiction over coastal waters. While admiralty law is adjudicated in national courts, the United Nations Convention on t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
