Black Letter Law Grid - Contract Law Study Guide - Quick Reference Law School Guide
Black Letter Law Grid - Contract Law Study Guide - Quick Reference Law School Guide
Black Letter Law Grid - Contract Law Study Guide - Quick Reference Law School Guide
Excuse of Condition
Pol: Non-breaching party entitled to benefit of Cost of Completion: -Forfeiture: excuse to condition enforcement of which
bargain; to be situated as if no breach. -Use when lower than Δ market val. OR would result in harsh deprivation or windfall
-When performance is central to K; OR -Materiality: can’t be material (ct may fudge)
(Direct and Consequential Loss of Bargain) + -Breach is intentional OR -Fault: SPLIT: some no fault; others only negligenc
(Reliance Costs) – (Avoidable Costs) – (Loss (pol: breacher shouldn’t determine) -Impact: SPLIT: some require NO impact to non-
Avoided from Breach). -Completion woudn’t req gross waste breacher; Others balance impacts
-Pol: give peeps idiosyncratic value sought -Pol: discourage rent seeking (money for nothin’)
Direct – foreseeable, cause, calculable Δ in Market Val. -Wrongful Prevention: bad faith avoid/prevent condit.
Consequential – foreseeable, cause, calculable -Incidental OR unintentional AND waste -Estoppel: reliance on other party saying cond. Met
-Pol: Avoid giving windfalls for “completion” -Waiver: Wvr of immaterial condition by party owed
Consequential Damages of things no longer worth it -Waiver of material cond. req’s consideration
Foreseeable – w/in reasonable contemplation
of both parties, @time of K
-Pol: Limitation allows for efficient breach,
-want peeps to breach if cost of
performance is higher than expected
benefit to both parties
-Criticism: Eff.Brch doesn’t see non-econ
factors; imperfect info; marginal cost of
breach may subsume savings
Causation – Proximate
Calculation – must be reasonably calculable
-New Business Exception