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Homework answers / question archive / York College, CUNY STRATEGIC 68798 Chapter 7 1)What is meant by the terms of a contract?   Why is it important to include terms dealing with price, quantity and warranties associated with a product in a contract?   Explain how rules of construction used by courts to interpret contracts are often conflicting

York College, CUNY STRATEGIC 68798 Chapter 7 1)What is meant by the terms of a contract?   Why is it important to include terms dealing with price, quantity and warranties associated with a product in a contract?   Explain how rules of construction used by courts to interpret contracts are often conflicting

Business

York College, CUNY

STRATEGIC 68798

Chapter 7

1)What is meant by the terms of a contract?

 

  1. Why is it important to include terms dealing with price, quantity and warranties associated with a product in a contract?

 

  1. Explain how rules of construction used by courts to interpret contracts are often conflicting.

 

  1. Does writing a term into a contract reduce all risk with respect to understanding the term? Explain.

 

  1. How does a court address vague or ambiguous terms?

 

  1. What rule governs if one party is responsible for the drafting of a vague or ambiguous term? What is the rationale for the rule?

 

  1. What is the legal result if contract language is so ambiguous that it simply cannot be understood?

 

  1. What does the law require of contractual parties with respect to good faith?

 

  1. When will the courts imply a term in a contract?

 

  1. What is implied by either common law or applicable legislation with respect to the sale of goods and services?

 

  1. What is an entire contract clause?

 

  1. What was the legal conclusion in Abramowich v. Azima Developments Ltd.?

 

  1. Identify the three possible forms that contracts can take. Does form impact enforceability?

 

  1. Explain the parol evidence rule and its exceptions.

 

 

 

 

 

 

  1. What happens to contractual obligations if a disaster strikes?

 

  1. Identify three ways that a party could deal with the risk that the price of a good might change over the life of a contract.

 

  1. What is a risk of building flexibility into a contract?

 

  1. Explain why conditional agreements are essential and what effect using conditions subsequent and conditions precedent have on a contract.

 

  1. Identify the situations where real estate agreements are frequently based on a condition.

 

  1. What liability results when a party fails to meet its contractual obligations?

 

  1. What is the purpose of a limitation of liability clause?

 

  1. What classic legal test is stated in Hadley v Baxendale (1954), 9 Exch 341?

 

  1. What is the purpose of an exemption clause?

 

  1. What clause facilitates consensus and choice in contract in relation to remedies for breach of contract?

 

  1. What type of clause could cause a court to set aside a term in a standard form contract?

 

  1. What did Abrams v Sprott Securities Ltd. (2003), 67 O.R. (3d) 368 C.A. distinguish in the Fraser Jewellers case?

 

  1. What is a shrink-wrap agreement and what is the legal status of this form of agreement in Canada?

 

  1. What is a click-wrap agreement and what is the legal status of this form of agreement in Canada?

 

  1. Identify the controversy regarding enforceability of browse-wrap agreements and explain how such controversy may be avoided?

 

  1. When is a liquidated damage clause enforceable?

 

 

 

 

 

 

 

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