Introduction to the Law of Contracts

A series of flashcards to help review key concepts from the lecture on the Law of Contracts, focusing on the case of Hawkins v. McGee and the principles of contract enforcement.

What is a contract?

A legally binding agreement between parties that creates rights and obligations.

What are expectation damages?

Damages intended to put the injured party in the position they would have been in had the contract been fully performed.

What case is discussed as the case of the day?

Hawkins v. McGee.

What key legal question is raised in Hawkins v. McGee?

Did the doctor and the young boy create legally recognizable expectations in one another?

What is the firm's usual method of enforcing contracts?

By allowing the injured party a monetary sum to compensate for the breach.

What does the court seek to determine regarding a breach of contract?

Whether there is a breach and how to calculate the damages arising from that breach.

How does social relationships relate to contracts?

Contracts arise from social relationships and involve exchanges between parties.

Is a handshake considered a contract?

It can be, depending on the circumstances and intentions of the parties involved.

What is the significance of promises in contract law?

Promises indicate that an agreement has been made and may be enforceable.

What type of situations does contract law examine?

It examines relationships, exchanges, and agreements to identify legally enforceable contracts.

What does 'legally recognizable expectation' mean?

Expectations that are understood and enforceable in a court of law as part of a contract.

What does 'due diligence' refer to in contract law?

The expectation to perform and fulfill contractual obligations.

What factors might influence the enforceability of a contract?

The relationship between parties, type of agreement, and consideration provided by each party.

Why was damages a primary focus in the case Hawkins v. McGee?

Because the case centered on the calculation of expectation damages resulting from a breach.

What does the term 'consideration' refer to in contract law?

Something of value exchanged between parties in a contract.