LAW 122 Lecture Notes - Lecture 1: Risk Management, Expectation Damages, Liquidated Damages
3 Jan 2018
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Element of exchange must move from each party but not necessarily to other party i"ll pay to your brother if you transfer a car to my sister . Promise to forgive existing debt exceptions: promise under seal (= special mark on document) promise exchanged for new benefit(e. g. early payment) statute (incl. Ontario, but not all jurisdictions) promise enforceable if part payment actually received. Exceptions promissory estoppel precludes a person from retracting a statement made earlier clear representation that party will not enforce its rights. Representee relies on statement representee did not commit inequitable behaviour extant legal relationship. First lecture -risk management concepts how to deal with them - Charter of rights and freedoms section 3 section 1 -division of powers court law and provincials conflict with each other -concepts of how laws applies to presidents. When there is a breach (fail: it depends upon type of term breached: -condition: substantial term; -warranty: lesser term; or -intermediate: hybrid term.
