A buyer and a seller enter into an agreement. They agree that the buyer will buy 1,000 bushels of corn from the farmer for $10 a bushel, for a total price of $10,000. They agree that the buyer will pay $10,000 to the seller now, and the seller will deliver the 1,000 bushels of corn […]
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Generally speaking, contracts may be written or oral, although there are exceptions requiring that some contracts be in writing to be enforceable. Of course, parties who enter into any contract would be well advised to put their agreement in writing. The reason, of course, is that memories fade, and even at a point in time […]
Read More Interference with economic relations can take two forms — interference with a contract, and interference with a business relationship which has not yet ripened into a contract. As noted below, the law provides greater protection to a party whose contract is interfered with, than to one who has only a prospect of a forthcoming contract […]
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An agent is a person who acts for a principal in dealings with third parties. The agent stands in the shoes of the principal when entering into transactions with third parties on behalf of the principal. An agent can act for the principal in numerous ways and for different purposes. One such purpose would the […]
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One of the least well known and largely misunderstood rules in civil litigation is the “Economic Loss Rule.” An excellent description of the Economic Loss Role and an explanation of when it does and does not apply is found in the California Court case of Robinson Helicopter Co., Inc. v. Dana Corp. (2004) 34 Cal. […]
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Contracts may be oral or in writing. The general rule is that any contract, whether oral or in writing, is enforceable, so long as it contains a quid pro quo and is legal. However, certain contracts must be in writing to be enforceable. However, it would be more correct to say, as the Statute of […]
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A contract is an agreement among two or more individuals or entities to do something, or to refrain from doing something. How is a Contract Formed? There are four requirements for the formation of a contract: (1) a lawful object, (2) an offer, (3) an acceptance of the offer, and (4) “consideration.” A […]
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