class 8

Trademark Protection

  • Trademark protection can be renewed every ten years indefinitely.

  • Under business law, it’s key to understand the registration notice of trademarks.

Types of Contracts

  • Sales Contracts: Involve the transfer of ownership of goods from one party to another for a price.

  • Traditional Common Law Contracts: Governed by precedents and do not involve the transfer of ownership.

Common Law Contracts

  • Based on precedents; older and serves as the default law when sales law does not apply.

  • Typically doesn't apply to transactions involving goods (personal property).

  • Examples include services (e.g., accounting, legal services).

Sales Contracts

  • Governed by the Uniform Commercial Code (UCC), which is statutory law referring specifically to sales contracts.

  • Important to distinguish between common law contracts and sales contracts when addressing disputes.

Ownership and Goods

  • A sales contract must involve a transfer of ownership of goods (e.g., not lending a book or car).

  • Applies to movable personal property, not real estate.

Real Estate Transactions

  • Contracts involving homes or land are typically resolved under common law.

  • Apartment leases would also fall under common law, as they do not transfer ownership but allow rental use.

Evidence in Breach of Contract Cases

  • Burden of proof in damages (e.g., car damage from an oil change) is important; requires demonstrating what a similarly situated professional would have done.

  • Negligence may be a plea in cases where contract obligations are not met but can be complex to prove.

Professional Services Contracts

  • Contracts for professional services (e.g., medical, legal, financial) fall under common law.

  • The warranted merchantability applies only to sales contracts, not to services.

Importance of Written Contracts

  • Writing contracts is crucial, especially in transactions involving family or friends.

  • Written agreements help clarify terms and avoid misinterpretations.

Contractual Interpretation

  • In cases of ambiguity, the interpretation is usually favorable to the non-professional party.

  • Example: If a water damage clause in an insurance contract is unclear regarding mold coverage, the interpretation will rely on written terms not explicitly excluded.

Breach of Contract Remedies

  • Damages are typically calculated based on the difference between expected and actual value (e.g., Lucy's case with properties).

  • Lucy sought specific performance for a unique property, indicating the difficulty in finding substitutes for certain goods (land/view).

Capacity to Contract

  • The capacity to enter a contract (e.g., intoxication) affects the validity of a contract, as intoxicated individuals may not fully understand the nature of their agreement.