Exam 11: Conclusion to Contracts

Assume that Jessie and Lester have formed a contract whereby Jessie agrees to deliver 10,000 dozen "Grade A Large Eggs" to be shipped in recycled paper cartons.A shortage of paper makes paper cartons much more expensive,so Jessie uses styrofoam cartons and ships the eggs.Lester is entitled to cancel the contract based on this deviation of terms in the contract.

Farmer Elvin is holding 200 pounds of potatoes in storage for Chef Noble but Chef Noble has breached the contract by failing to pay for the potatoes.The potatoes are beginning to rot.If Farmer Elvin sells the potatoes to a local diner to make potato soup and salad,then this action would be considered:

A statute of limitations begins to run at the time of the injury,and failure to file suit within the time limit set by state statute acts as a discharge for the breaching party.

Under Section 205 of the Restatement (Second)of Contracts:

Expectation and reliance interests create:

Identify and describe the four principal contract interests a court may seek to protect.

Statutes of limitations:

Expectation interest,the most common remedy,is designed to put the injured party in the position he would have been in if both parties had fully performed their contractual obligations.

A statute of limitations,which limits the time in which a lawsuit may be brought,may be different for oral and written contracts.

Abdulla hired Granite Construction to build an addition onto his home.Granite Construction dug the foundation but then abandoned the project.Granite Construction is entitled to receive the full contract price minus the value of the defects.

Injunctions are commonly used by courts to force people to complete their contractual obligations.

To determine whether a party's performance is substantial,courts:

In early January 2010,Professor Noe entered into a contract with State University.She agreed to teach full time during the 2010-2011 academic year.Professor Noe died on March 14,2010.Her estate:

In cases of quasi-contract,courts award:

The first step a court takes in choosing a remedy is to determine:

Most contracts are discharged by full performance.

Statutes of limitations:

Harry agreed to pay $100 to rent a rooftop spot in downtown Seattle to watch the New Year's Eve festivities.The festivities were unexpectedly cancelled because of concern over a terrorist attack.Harry is:

The Restatement (Second)of Contracts and the UCC establish different requirements regarding the obligation of good faith.

Milt contracted with Vern to buy a ten-acre piece of land,but before the closing Vern decided not to sell.Discuss what remedy(ies)are potentially available to Milt.