ITL, chapter 4
Chapter 4, The Law of Contract
Chapter 4, The Law of Contract
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Flashcards
How is interpreted a contract ?
The contract is interpreted in the way in which a reasonable person would understand it.
When is a contract prohibited ?
If they are contrary to law, public order and morality.
What is nonperformance ?
When the other party is nonperforming at all, is performing too late (delay) or is performing in the wrong way. (Defective performance)
What is the position of civil law for performance ?
If a party does not perform, it can be forced to do so by a court.
Expect :
A case of objective impossibility
when performance requires specific personal qualities
when performance would cause the debtor unreasonable effort or expense
What us the position of common law on performance ?
The normal action is for damages, so-called specific performance being the exception.
What happen if the performance of the contract does not take place at all, is too late or defective, in the common law ?
To hold the nonperforming party liable simply because it did not perform, the wrong party must compensate its customers.
What happen if the performance of a contract does not take place, is too late or defective, in the civil law ?
Allow a claim for damages only if he other party was at fault or can at least be held responsible for the nonperformance. (Excuse of force majeur are accepted)
