Presentation on theme: "Denial of Remedies for branch of Contract page 215 By; Alexis and Simone."— Presentation transcript:
Denial of Remedies for branch of Contract page 215 By; Alexis and Simone
DO NOW Jim “fastball” Smoot, an unknown baseball pitcher, signed a five-year contact to play for a major league team in Denver for $120,000 a year. After two months, Smoot had won three and lost one in four starts, and had 37 strike-outs and an earned-run average (ERA) of 1.75. He then contracted with a competing team in Seattle for $12 million a year, there by breaching his contract with Denver. What remedies are available to the Denver?
Vocabulary wavier- Contractual party’s intentional and explicit giving up of a contractual right. Statues of limitation-state law setting time limit for bringing a law suit. Bankruptcy- Legal proceedings discharging debts and distributing assets. Remedy-Action or procedure followed to enforce a right or to compensate for an injury. Mitigate damages-one must act to minimize ones injury.
true False The UCC and the common law have different rules determining when remedies are mutually exclusive. True or false In contracts for the sale of goods, rescission can be combined with damages. True false Waiver can be express or implied from conduct. True false
Closing Riley sold a used video cassette recorder to his friend and neighbor, Parr for $495 dollars on credit. Over a six year period, Parr always had some excuses for not paying when Riley tried to collect. Exasperated, Riley finally filed suit in small claims court. Will the court consider the claim even though it is six years old?