Contracts: Requirements for a Contract Agreement –Offer –Acceptance Consideration Capacity Intention

Contract Remedies Purpose: to put “innocent” party in position would have been in had contract been kept Damages: –Restitution –Reliance –Expectation Specific Performance –Extraordinary Remedy –Only Where Damages Not Adequate

Contracts: Mistake Bilateral or Mutual Mistake: –Fundamental Term or Fact of Contract? Unilateral Mistake: –Fundamental Term or Fact of Contract? –Did Other Party Know of Should Have Known? Ambiguous: No “Meeting of the Minds” –Fundamental Term or Fact of Contract?

Contracts: Frustration Unforeseen Event -- Not Reasonably Foreseeable When Contract Made Not the Fault of Either Party to Contract Does Event Make Contract Performance: –Impossible –Illegal –Pointless