LAWS 2202 Lecture Notes - Lecture 5: Meeting Of The Minds
14 Dec 2019
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Document Summary
October 7, 2019 emergence of contract law (p. 152) Facts: defendant failed to restore a strip mine which it had undertaken to do, peevyhouse owns a farm and lease their farms to a coal mine (garland). Garland made a hole but didn"t want to fill it. Ratio: a court will look cost to perform v. economic value of performance/diminution of value, the land is worth nothing, so they gave him ,000. They appealed and got only : 29,000 value to fill the hole but the difference is only ,000. Formation: offer (written/oral, acceptance (written/oral) on its own terms, consideration (an exchanged of something for value) doesn"t have to be equal value. Intent to create legal relationship: certainty you need to have a meeting of minds (ad idem, not against public policy. Cause of action this is what you have to prove to win: contract, breech, damages is what the parties would"ve agreed on at the time of the beginning.
