1 ANGLO-AMERICAN CONTRACTS LAW 英 美 契 约. 2 OVERVIEW Introduction Creation of contract Breach of contract Remedies Third parties.

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Presentation transcript:

1 ANGLO-AMERICAN CONTRACTS LAW 英 美 契 约

2 OVERVIEW Introduction Creation of contract Breach of contract Remedies Third parties

3 INTRODUCTION What is a contract? Contract = agreement + enforceable by court Contract = promise(s) + remedy Governing law: Contract Article 2 UCC (sale of goods) Common law

4 INTRODUCTION Types of contracts express (words) implied (conduct) quasi-contract (equitable remedy) unilateral (promise + performance) bilateral (promise + promise)

5 INTRODUCTION Validity: valid unenforceable voidable invalid / void

6 CREATION OF CONTRACT 3.MUTUAL ASSENT 1. OFFER2. ACCEPTANCE 4. CONSIDERATION 5. NO DEFENSE

7 BREACH minor not discharge counterperformance material Discharge counterperformance discharge counterperformance all remedies

8 REMEDIES DAMAGESPERFORMANCE RESCISSION RESTITUTION TORT QUASI- CONTRACT UCC REMEDIES seller’s remedies withold/stop delivery resell + recover difference recover cancel buyer’s remedies specific performance cover + recover recover cancel cover

9 THIRD PARTY BENEFICARY THIRD PARTY BENEFICIARY ASSIGNMENT OF RIGHTS DELEGATION OF DUTIES

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