0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Does a contract for deed constitute legal or equitable title?
Equitable.Equitable.Equitable.Equitable.
How do you flex?
Contract the muscles on both sides of a joint. For example, contract both your tricep and your bicep.
Is recission a legal or an equitable remedy?
Rescission is considered an equitable remedy. It allows a contract to be cancelled and parties to be restored to their pre-contractual positions. It is typically granted by a court to prevent unjust enrichment or unfair outcomes.
Is monetary damages an equitable remedy under contract law?
They are normally considered an equitable remedy. In some cases there may be more equitable methods of compensation.
What are the essentials for a good contract management?
The first is a good understanding of the obligations of both parties. It is then the Contract Managers responsibility to make sure that both sides are living up to these obligations.
Is a bilateral contract modification a contract?
It depends on whether both sides gave new consideration (something in exchange for something). If only one party did something different under the contract, then it is gratuitous and only the original contract is legitimate. If both parties offered something new to the contract then there is a new contract formed and the old contract is thrown out.
A quasi-contract is not a contract at all?
A quasi-contract is fictional and created for equitable, not contractual purposes by the courts. It is not a real contract, simply a means to bring about equity between two parties in dispute. It is used to represent a contract that should have been formed in this case, but was not.
Do consumers have rights when purchasing a vehicle at a specific contract and then the dealership later decides to change that contract what is the time limitation?
Up to the point where the contract is signed, either party can modify the terms. Once the contract is signed, the deal is done and both sides have to live with it.
What is ordinary contract?
At its essence, an ordinary contract is a legal agreement between parties that forms obligations on both sides. Such contracts can be binding on the parties in both written and oral forms, though it is much easier to prove the terms of a written contract in the event things go awry. The main criteria for an ordinary contract is that both parties have the capacity to enter a legal agreement. A contract with a child or an incompetent adult would not be enforceable.
How does the national contract management association compare to the international association of commercial and contract managers?
They are both professional organizations for contract management. The NCMA tends to focus on US contracts with the government. The IACCM is an international organization that supports members on both sides of the agreements. Both provide certifications for those that meet the requirements. I am a member of the IACCM and am certified as a Contracts Expert.
How can quantum merit be exercised in the law of contract?
Quantum meruit is an equitable relief given where the terms of a contract may not be enforceable but the party who has performed is awarded a reasonable value for the work performed by such party (which may be less than the expected contract rate).
When are remedies applied in business law?
Remedies of quasi-contract, constructive trust, equitable lien, and reformation must be applied to redress enrichment secured by tort, part performance of contract, duress, or mistake.
