Law 5110 Study Guide - Quiz Guide: Liquidated Damages, Specific Performance, Force Majeure
Document Summary
The use of a force majeure clause balances businessmen"s legitimate expectations of performance with the harsh reality that circumstances do change to make performance so hard that the contract simply must change. ". Article 8:109: clause excluding or restricting remedies. Remedies for non-performance may be excluded or restricted unless it would be contrary to good faith and fair dealing to invoke the exclusion or restriction. Offer, acceptance, intention, capacity, formality, and absence of lack of . Implied terms : in fact and by law=> gap filling , constructing. Importance of the terms: fundamental terms and non fundamental terms. Principle of good faith goes through the whole process in civil law. Lack of consent and prohibited contract makes the contract possible to interrupt. Lack of consent = 1)mistake 2) fraud 3) threat 4)under influence 5)misrepresentation. What is misrepresentation ? (spice girls example in the book) incorrect information, read more! Types of misrepresentation = fraudulent , negligent, innocent.
