Law of Contract

1. decide themselves
2. general conditions (standardized rules that suit their interests)
   1. eg: supermarkets

1. national
2. EU
   1. limited competence
      1. specific contracts/aspects
3. supranational
   1. UN: CISG

      Annotations:

      • Convention on Contracts for the International Sale of Goods
4. default/ mandatory
   1. automatically applicable rules if no specific ones are made by the parties
   2. declare void: if against law or morality

1. inspiration for drafting
2. PECL

   Annotations:

   • Principles of European Contract Law

1. enforceable

1. consideration

1. need to be put in a notarial deed
2. UK: deed

1. car for $10
2. why made?
3. what if unforceable?
4. if action made upon promise--> can be argued binding

Annotations:

• intend to result in a contract contain sufficiently definite terms to form a contract

1. differs per jurisdiction
2. DE:irrevocable for a period

1. as it is dispatched : BINDING

1. consumer protection
   1. inform buyer
   2. in writing
   3. incapacity
      1. minors
      2. mentally ill
2. withdrawal rights
   1. cooling-off period 14 days

1. contract during negotiations already binding
   1. depends on jurisdiction

1. EU: intention of the promiser
2. UK: literal interpretation
3. how would a reasonable person with reasonable knowledge decide?

1. procedural unfairness
   1. did not form will freely
      1. under threat
   2. mistake
      1. incorrect assumption
      2. balance: what should they know/ be told
2. general condition
   1. buyer cannot change contract
   2. test substantive fairness

1. contrary to law/morality
2. not enforced

1. claim of performance
   1. doesn't abide: forced
2. objective impossiblity
   1. eg laptop is stolen from me before i sell it
3. too big effort to perform: not forced
4. generic goods
   1. claim delivery
5. nonperformance
   1. only if responsible damages
   2. force majeure
   3. termination
      1. DE: main obligation breached

1. normally: damages paid
2. equity
   1. claim for performance
      1. land, work of art etc
3. generic goods
   1. damages
   2. eg: potato water
4. nonperformance
   1. liable
      1. except for implied condition
         1. stadium burns down
   2. terminate
      1. "essential" part breached