COMM231 Chapter Notes - Chapter 7: Shrink Wrap Contract, Parol Evidence Rule, Condition Precedent
14 Feb 2016
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English anything like one dealing with ambiguities understand. Terms of contract refer to promises made by one party to another by virtue of offer and acceptance. Contract is a business tool that can be used to manage a business" exposure to liability. Contract can be entirely oral, entirely written, both oral and written. Court assign as reasonable a meaning as possible to vague terms. For every day of the delay, a will pay b . The intention is to motivate a to deliver products on date. If there is a mechanical problem that causes delay, a should pay b. However, if there is delay caused by severe weather condition (outside of a"s control), if b still asks a to pay, it will be contrary to the parties" intention. Implied terms: provision that is not expressly included in a contract but that is necessary to give effect to the parties" intention. Courts imply terms based on a number of grounds:
