The Law Dictionary for Everyone
A yellow dog contract is a type of agreement wherein an employee agrees not to become a member of a labor union in exchange for employment with the company that drafted the agreement. Yellow dog contracts are, for the most part, illegal. Yellow dog contracts were used up until the 1930s as a way to stop employees from organizing union […]
Read moreTortious interference is the act of intentionally interfering with someone’s business. This may be by directly interfering with a business deal, or by interfering with the day-to-day operations – or even by spreading false claims about the business. Tortious interference is interference that is so egregious as to allow the harmed party to file a civil lawsuit under a “tort,” […]
Read moreCourts use the term “unconscionable” to describe conduct that is either unjust or one-sided to benefit one party more than the other. In contract law, an unconscionable contract is one that no reasonable person would enter into without some very compelling reason. Those who do end up entering into unconscionable contracts tend to be poorly educated, living in poverty, and/or […]
Read moreA time is of the essence provision is used in a contract wherein a missed deadline could damage one or more of the parties. For example, time is of the essence when a lender must fulfill a loan contract by funding a loan on time, else the buyer will miss out on his chance to buy the property in question, […]
Read moreThe term “specific performance” refers to literal performance of one’s obligations under a contract. Should a party default on his obligation, a court may issue an order for specific performance, requiring a party to perform a particular action. The action is usually one that has been previously detailed in a contract. Specific performance is an alternative to a court’s decision […]
Read moreA quasi contract is a contract that is created by a court order, not by an agreement made by the parties to the contract. For example, quasi contracts are created by the court when no official agreement exists between the parties, in disputes over payments for goods or services. The goal in the court’s creation of these contracts is to […]
Read morePromissory estoppel is the idea that a promise can be enforced by the law if, after relying on that promise, the promisee is injured or suffers a resulting loss. The idea of promissory estoppel is that the promisor is barred from arguing that the underlying promise at the heart of the case should not be legally upheld. While promissory estoppel […]
Read moreLiquidated damages are damages that are specified by the parties to a contract as they are drawing up the contract. This part of a contract specifies that, in the event one party breaches the contract, he must pay a specified amount to the other party for his losses. In some cases, the specific amount to be paid as liquidated damages […]
Read moreAn implied contract is a contract that exists based on the actions of those involved. Though it is not a written or spoken contract, it is just as legal. A contract is assumed to exist based on the behaviors of the parties to it. An example of an implied contract is an implied warranty that goes into effect upon the […]
Read moreFollowing is the case brief for Raffles v. Wichelhaus, Court of Exchequer, (1864) Case summary for Raffles v. Wichelhaus: Raffles and Wichelhaus entered a contract to buy and sell Surat cotton shipped by a ship called the ‘Peerless’ which was sailing from Bombay, India. Unbeknownst to both, there was a Peerless that sailed from Bombay in both October and December […]
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