Remedies in contract law - elawresources

Recall that orthodox contract law’s preference for theexpectation remedy, and the associated practice of efficient breach,permits a breaching promisor to retain for herself ex postgains produced by her breach. The contractual duty of good faith inperformance requires the promisor to respect the contractualsettlement, but vindicating the promisee’s expectation interestfully satisfies the required respect. Beyond this, the promisor mayremain as self-interested within the contract as she was without it:once again, she may decide whether to perform or breach by consultingonly her own account.

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Damages in contract law are a legal remedy available for breach of contract

Contract Remedies – Law Essay Papers

These observations invite a simple restatement of the orthodoxaccount of contract: where the allocation of discretion and controlassociated with the efficient performance remedy really is optimal,there will be no separate legal entities to begin with and hence nocontracts. The legal norms associated with orthodox contractlaw—the expectation remedy, the practice of efficient breach,and more generally self-interest side-constrained by good faithrespect for the contractual settlement—may thus be cast asconstitutive of economic coordination by contract.

Contract Law Misrepresentation and Breach of Contract Essay

Moreover, orthodox accounts of contract observe that even if aharm-based theory can successfully explain strict liability forpromise-keeping in a non-circular and yet non-reductive way, thetheory remains unable to explain why contracts create entitlements inrespect not just of reasonable reliance but also in respect ofpromissory expectations. Tort law, after all, remainsbackward-looking: the obligations it contemplates (includingobligations associated with representations concerning currentintentions or future actions) are limited to preventing losses. Andthe remedies it recommends (for example, the damage awardscontemplated in the law of torts) are limited to the compensationnecessary to restore the status quo ante. Contract law bycontrast differs in each of these respects, and the harm-based view,as Scanlon recognizes, must explain why contract requires promisors tosatisfy their promisees’ expectations rather than merely tocompensate disappointed promisees for lost reliance and why contractremedies vindicate contractual expectations rather than merelyreimbursing lost reliance.

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Furthermore, and again in contradistinction to tort obligation,contract obligation is forward-rather than backward-looking; contractconcerns realizing promised gains rather than restoring a statusquo ante disturbed by a wrong. A contractual promisor must notjust avoid harming her promisee on account of his reliance on thepromise, she must affirmatively vindicate her promisee’sexpectations of performance. Contract remedies further reflect theforward-looking character of contract obligations. These remedies donot just make promisees who have been disappointed by breach whole,restoring them to the positions that they would have occupied hadcontractual promises never been made. Rather, the law requirespromisors to put their promisees in positions as good as they wouldhave occupied had the promisors performed. Typically, contract lawachieves this end by awarding money damages that insure thepromisees’ valuations of performance (under what the law callsthe expectation remedy) (R2 Contracts: §344cmt. a).[]

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‘At common law privity prevented a third party from ever receiving an enforceable benefit from a contract made between other parties. This situation has been clearly and decisively remedied by the Contracts (Rights of Third Parties) Act 1999. No longer will third parties be denied the ability to enforce benefits conferred upon them by a contract between two or more other parties.’

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CONTRACT LAW CASE STUDY 2, ASSIGNMENT 2, TASK ONE

Barry is a retired lorry driver who has just set up his own distribution service called
'Deliveries R Us'. Pencilbox PLC, his first customers, want to use Barry's service to
deliver stationery to some of their retail outlets. They reached an agreement and a
contract was signed whereby Barry would deliver 'a minimum of 3000 boxes of
stationery for Pencilbox over the next 12 months. ' The contract was to commence on the
1st April. No maximum figure was specified in the contracts and a delivery charge of
£1.00 per box was laid down by Barry.

Barry expected to deliver a higher amount than the minimum specified and so decided to
take out a bank loan in order to upgrade his existing fleet of lorries.

However six months later, Pencilbox pic wanted to renegotiate the delivery charge
threatening immediate withdrawal unless the charge was reduced to 50p per box. They
also told him that they wanted him to enter a three year contract with 'Gadgets Ltd' a
subsidiary of Pencilbox pic or they would terminate their business arrangement with his
distribution service.

Barry has found that his distribution service hasn't been as busy as he believed it would
be and so agreed to the new arrangements as he didn't want to lose their custom even
though he was aware he would be making a loss on the contract with Gadgets Ltd.

Barry has asked for your advice. You are a junior partner of Patel and Brown
Solicitors and have been asked by your senior to write a report on whether he
can claim the lost monies for every delivery he made on the grounds that the
modification made to the contract was due to improper pressure.

TASK TWO
You have been asked to write a letter to the following client, Julia.
Julia, a partially sighted invalid, jointly owns a home with her husband Charles. The
family home has been mortgaged to Braddale Building Society.

Over the last year, Charles has been experiencing great losses in his business and has
failed to meet a number of mortgage repayments. Due to this the building society has
started proceedings against the couple. As they don't want to lose possession of the
house, Charles and Julia have approached their bank, Rochford Bank Pic and hope to
refinance the mortgage. The loans manager, Mr Credit, arrived at their home with
important documents and papers regarding the loan.

Julia was not happy with this and told Mr. Credit that her husband's business wasn't
doing well and that she strongly believed it would carry on making a loss and in view of
this she was not going to sign any documentation that covered Charles' business
liability.

Mr. Credit assured her that the papers didn't cover any business liability and that if she
didn't sign there would be danger that she would lose her home. He was so persistent
that she signed.

Julia hesitantly asked for the documents to be fully explained to her again as she was
unable to read the documentation because of her disability. Having heard the
explanation she reluctantly signed the papers.

Julia has now discovered that the documents not only cover a mortgage relating to
the house but also cover Charles' business debts.

Julia is very worried as the bank is insisting on enforcing the agreement. Your letter of
advice should cover the following.

1. Discuss grounds on which Julia might avoid the contract and whether
any remedies are available.
2. Would the situation be different had Julia taken independent advice
and then entered the agreement.

TASK THREE
Catherine is employed as an accountant at 'Cash and Co.' and based in a firm in
Bradford. She has worked there as an employee for 6 years and her original contract of
employment prevents her from working as an accountant within 60 miles of Bradford if
and when she left the firm. After a successful interview, she has received a lucrative
offer from a firm of accountants in Leeds where she would be employed in a higher
position. She resigns and commences her new employment. 'Cash and Co.' have sent her
a letter stating that are going to take matters further as she has breached her contract of
employment.

You have been asked to write a memorandum to Catherine to outline her position
regards her previous employment contract.