1、 CONTRACT LAW Lesson One Introduction Lesson Two Performance and Non-Performance Lesson Three Contract Remedies and Computation of Damages Lesson Four Rights of Third PartiesLesson One Introduction Case: the Cotton Cases of 1973 “The critical issue is whether there was an enforceable promise to buy
2、for each promise to sell. We believe there was.”contracts I. Contract Nature Contract and contract law A contract is a promise or a set of promises which the law will protect and enforce. The common law countries stress the contract as a kind of “promise,”the civil law countries concern on the “agre
3、ement between the parties.” A promise or set of promises where the law gives a remedy when breached, and the performance of which the law recognizes as a duty. Contract law Contract law is most obviously the law relating to agreements or promises. The bulk of American contract law is judge-made case
4、 law. The Uniform Commercial Code The Restatement of Contracts 合同法注释汇编 合同法重述 2. Formation of Contract offer and acceptance Offeror and Offeree Meeting of the minds Mutual assent Manifestation of willingness “mirror image” “mailbox rule” Offer and Acceptance Consideration No Defenses to Formation Offer and AcceptanceWhy important to have offer and acceptance rules? Helps court decide whether negotiations or an actual bargain Ensures parties agreed on a minimum quantity of terms Gives court a reliable method to determine content of deal
