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Call # KF801 .K63 2012
Author Klass, Gregory
Title Contract law in the United States / Gregory Klass
Imprint Alphen aan den Rijn, The Netherlands : Kluwer Law International ; Frederick, MD : Sold and distributed in North, Central, and South America by Aspen Publishers, c2012
Edition 2nd ed
Book Cover


Descript. 292 p. : port. ; 24 cm
Note "This book was originally published as a monograph in the International Encyclopedia of Law/Contracts law."
Includes bibliographical references (p. 47-62) and index
Subject Contracts -- United States
OCLC # 793379593
Table of Contents
 List of Abbreviations11
 General Introduction19
℗ʹ1.General Background of the Country19
II.Cultural Composition19
III.Political System19
B.Federal Government20
C.State Government21
D.Political Parties21
IV.Social and Cultural Values22
℗ʹ2.U.S. Law Belongs to the Common Law Tradition22
℗ʹ3.Primacy of Legislation23
℗ʹ4.Position of the Judiciary23
℗ʹ5.Role of the Jury24
℗ʹ6.Distinction between Law and Equity25
℗ʹ7.Distinction between Public Law and Private Law25
℗ʹ8.Commercial Transactions26
 Introduction to the Law of Contracts27
℗ʹ1.Definition of Contract27
℗ʹ2.Historical Background of the Law of Contracts28
℗ʹ3.Classification of Contracts30
℗ʹ4.Contract and Tort31
℗ʹ5.Contract and Quasi-contract33
℗ʹ6.Contract and the Law of Property34
℗ʹ7.Contract, Trust, and Fiduciary Obligations37
℗ʹ8.Good Faith and Fair Dealing40
℗ʹ9.Style of Drafting44
℗ʹ10.Sources of the Law of Contracts45
 Selected Bibliography47
pt. I General Principles of the Law of Contract63
ch. 1 Formation63
℗ʹ1.Agreement and Consideration63
I.Agreement: Offer and Acceptance63
II.Intention to Create Legal Relations69
A.Consideration Requirement72
B.Enforcement Absent Consideration77
C.Promissory Estoppel78
D.Moral Obligation ("Natural Obligations")82
IV.Modifications to the Contract84
℗ʹ2.Formal and Evidentiary Requirements88
I.Formal Requirements88
A.Contracts under Seal88
B.U.S. Law Does Not Recognize the Category of Solemn Contracts90
II.Evidentiary Requirement90
A.Statute of Frauds: The Existence of a Writing90
B.No Special Role for Notary Public96
III.Burden of Proof96
℗ʹ3.Pre-contractual Liability and Negotiations98
I.Breakdown of Negotiations98
II.Preliminary Agreements99
ch. 2 Conditions of Substantive Validity102
℗ʹ1.Capacity of the Parties102
℗ʹ2.Defects of Consent104
II.Misrepresentation and Non-disclosure107
III.Duress and Undue Influence113
℗ʹ3.Other Conditions of Validity or Enforcement122
I.No Requirement Related to Cause or Object of the Agreement122
II.Indefiniteness and Open Terms123
III.Initial Impossibility or Frustration126
IV.Public Policy126
℗ʹ4.Consequences of a Defect of Consent or a Lack of Substantive Validity130
ch. 3 Contents of a Contract131
℗ʹ1.Different Types of Clauses131
I.Express and Implied Terms131
II.Standard Terms (Boilerplate)132
IV.Exemption Clauses and Other Limitations on Liability136
V.Liquidated Damages and Penalty Clauses138
VI.Arbitration Clauses140
I.Parol Evidence Rule142
II.General Rules of Interpretation145
℗ʹ3.Conditional Duties151
ch. 4 Privity of Contract161
℗ʹ1.Third-party Beneficiaries161
℗ʹ2.Transfers of Contractual Rights and Obligations166
℗ʹ3.Avoidance of Fraudulent Transfers178
ch. 5 Termination of the Contract180
℗ʹ1.Performance and Breach180
℗ʹ2.Impracticability and Frustration184
℗ʹ3.Discharge by Agreement188
I.Termination Clauses189
II.Agreements to Discharge Existing Contractual Duties191
ch. 6 Remedies196
℗ʹ1.General Principles196
℗ʹ2.Defensive Remedies, Including Termination198
I.Non-performance: The Injured Party's Rights to Suspend Performance and Terminate the Contract198
II.Anticipatory Repudiation and Adequate Assurance207
℗ʹ3.Specific Performance and Injunctive Relief211
I.Compensatory Damages218
A.Basic Measure of Value218
B.Rules Limiting Recovery219
C.Damage Measures and Special Rules223
II.Liquidated Damages229
℗ʹ5.Restitution for Breach of Contract229
℗ʹ6.Non-compensatory Damages231
℗ʹ7.Statutes of Limitations233
pt. II Specific Contracts235
ch. 1 Agency235
ch. 2 Bailment240
ch. 3 Gaming and Wagering242
ch. 4 Sale of Goods: Article 2 of the UCC244
ch. 5 Building Contracts, Hire of Work and Skills248
ch. 6 Lease, Commercial and Agricultural Leases253
ch. 7 Compromise Settlement258
ch. 8 Suretyship260
℗ʹ1.Contractual Creation of Suretyship260
℗ʹ2.Surety's Obligations and Defenses262
℗ʹ3.Surety's Rights against the Principal264
ch. 9 Pledge265
ch. 10 Loans267
ch. 11 Contracts with the Government and Other Public Administrations269
ch. 12 Contract of Partnership275
ch. 13 Restitution, Including Quasi-contract280