twenty wrote:See how long it takes you and report back. Maybe give us some idea of what you're writing down or making notes of, and we can help you from there.
Well, I figured I'd just post my "contracts" notes with the quoted portions of text partially/fully cut out. I felt this reading didn't have as much substantive info as the criminal law reading that took me forever, but I hope that this will give a general idea of what I've been taking notes on across all books. Let me know if there's anything that I shouldn't have bothered writing down. Also, not sure if this would constitute copyright infringement of a sort, so if it does, let me know asap so I can remove it.
Also, not sure how long this took me. There were a lot of distractions today, so in total I'd probably guess an equivalent of 2 hours of non-interupted reading.
Things may look a bit disorganized on here because the copy and paste removed all the tabs tiering the different topics/sections.
Many thanks in advance, you guys are incredible.
***Please do not quote***
Summers p.40-55 (8/28/16)
Part 1, Chapter 1, Section 3-B
B. Remedies (Important dimension of theory of obligation)
Monetary Remedies
(1) Lost expectancy damages
(2) Reliance damages
(3) sum equivalent to value conferred to defendant
-Even if requirements of theory of obligation are met, a plaintiff may recover no more than nominal damages.
Problem 1-1
...
-Goods: ...
-Does it fit? Yes, to say that it is sold out insinuates that it was previously in stock at the time of the contract, thus making it movable at the time of identification to the contract for sale.
UCC SS 1-305(a)
Remedies to be liberally administered: The aggrieved party must ...
-Neither consequential or special damages nor ...
-[descrip of what the promisee would be due]
Sullivan v O’Connor
See Brief and/or text
-doctors can...
Compensatory (Expectancy): an amount intended ...
Restitution: an amount corresponding to...
-acted innocently and without negligence hardly a defense
-Reliance: Plaintiff is to recover ...
-pain and suffering are simply not compensable...
-Suffering or distress ...compensable on the same ground as ...
-...hierarchy of contract interests.
Part 1, Chapter 2, Section 1: theory of obligation relevance...
-Theories of obligation operative in contractual and related affairs
-i.e. consideration, promissory estoppel, and unjust enrichment
• General theories of obligation predominate in this field.
• ...general theory of obligation are satisfied, the parties incur both rights and duties.
-The duty to keep a contract at common law means a prediction that you must pay damages if you do not keep it.
-When parties believe in the legal weight of their agreements, disputes in contractual and related affairs arise less frequently, and may be settled more simply and cheaply.
-parties see breaches of “legal” contracts as moral wrongs to be punished rather than taxed.
2 Basic Dimensions of General Theories of Obligation
(1) Substantive requirements, defined by law, for the prima facie applicability of each theory. Ex: requirements of a valid agreement with consideration
(2) General justifying rationale/’s supporting each theory.
• These rationales often influence judicial decisions on whether a theory applies.
Part 1, Chapter 2, Section 2: Obligation arising from an agreement with consideration
-Consideration: one of the basic requirements of the leading theory of obligation; bargained for exchange
-Agreement: Second basic requirement of this theory
Citation: Hardesty v Smith, Supreme Court of Indiana, 1851 (3 Ind. 39)
Plaintiff: Hardesty
Defendant: Smith
Procedural History: -Smith bought the rights to an invention using a promissory note assigned to Hardesty.
-Smith alleged affirmative defense that invention was worthless
-Hardesty brought suit to collect
-Hardesty disagreed generally
-Court overruled disagreement and made final judgment in defendants favor.
Issue: Did the court err in not sustaining the disagreement?
Holding: Yes, the court erred
Ruling: Judgment is reversed with costs
Reasoning:
• Parties of sufficient mental capacity for the management of their own business, have a right to make their own bargains.
• The simple parting with a right which is one’s own, and which he has a right to fix a price upon, must be a good consideration for a promise to pay that price.
-loss, trouble, or inconvenience, or expense, on the part of the grantor, or seller, without any profit to the buyer, is a good consideration.
• It does not matter whether or not the invention is worthless.