310-315

chapter 17 is worth 7 possilbe marks and you hsould read 358-367, chapter 19 is worth
eight possible marks and you should read pages 391-03
chapter !0 is worth 9 possible marks and you should read 15-!5, chapter !8 is worth
"i"teen possilbe marks and you should read pages 6!8-65
ch33
"oreign presence- placing reps o" a business in "oreign markets #agent, rep o""ice$
stage- business established and markets product to surrounding community
e%pand and creats national presence, at some stage, "inds customer in another country
#"oreign trade$& ' commerce allows skipping o" this progression
"inal stage- processing products abroad
changed "rom "oreign trade to "oreign in(estment #conducting operations in "oreign
market$
----
pri(ate, public, public international
ngo, super go
)oods*ser(ices supplied in one o" 3 ways+
1- supplier deli(er directly to customer in other country
!- deli(ery may be made through the suppier,s own marketing organi-ation established
in the other country
3- customer may accept deli(ery in supplier,s home country and himsel" arrange to ship
the goods home
.ontract o" /ale
arrange "or transportation*insurance during shipment*"inancing #not always$
sometimes e%port houses*"reight "orwarders are hired to arrange "or shipment, insurance
and "inancing
0he proper law is the law that the parties intended to go(ern
the best way to is make e%press pro(ision
-choice doesn,t ha(e to be the location o" one o" the parties or related to place o"
per"ormance, can be 1neutral1 law
otherwise courts will determine intention o" parties "rom surrounding circumstances
-in"erence, terminology, "orm o" document
where it can,t make that in"erence+ then place where contract "ormed, place where it is
per"ormed, sub2ect matter o" contract, place o" business& 3i""erent laws may apply to
di""erent parts
0erms
/)4s ha(e been encouraged harmoni-ation o" national commerical laws or adoption o"
uni"orm laws
3ocumentation5
'%port sale re6uires documents+ .ontract o" sale, 7ill o" lading, 8nsurance 9olicy,
8n(oice 78.8 #check ch 16$
bill o" lading- acknowledgement by carrier that the goods ha(e been deli(ered "or
shipment& 3ocument o" title to the goods&
insurance policy- e(idence goods are insured against loss or damage during transit
in(oice- must be correct in e(ery way& 9ro(ides in"o "or customs authorities o" country or
importation& :ust con"orm to the re6uirements o" importing country&
ch3
web wrap agreement- web doc setting out contractual terms, the acceptance o" which is
con"irmed by clicking on the appropriate icon&
989'3; - 1electronic signatures constitutes a real signature
electronic "orm is 1in writing1
electronic in"o is 1legal1
some consumer protection #printable copies, cooling o"" periods, cancellation rights$
0ort
<ibel- posting de"amatory material online may be 1broadcasting1
trademarks- identi"iable "eature used by person "or the purpose o" distinguishing their
goods or ser(ices "rom others&& generic terms don,t count
passing o""- misrepresenting goods, ser(ices or business in a way to decei(e public they
are someone else&& con"usingly similar marks apply intentional or not&
=nauthori-ed linking- illegal i" suggests a""iliation, endorsement or sponsorship
cybers6uatting
alternati(e dispute resolution- mediation& arbitration
copyright able- anything that can be con(erted into digital "orm and sent
anti copyright remedy- isp withdraws ser(ice, 09: locks blocking copying, 3>:/-
licence
unathori-ed storage and access to a shared dri(e on 9. is in"ringement
ch15 .onracts- >emedies
3amages-money award to compensate in2ured party caused by other party,s breach
-aims to place in2ured in position as i" contract had been completed #not intended to
punish party !$
-sometimes award "or non economic damages, mental stress
:itigation- in2ured 9 e%pected to mitigate the e%tent o" loss& damages will not include
what might be reasonably a(oided
9rere6uisities "or 3amages awards- damage arising "rom breach must be within the
"orseeable limits o" what the parties would ha(e e%pected as a likely conse6uence o" a
"ailure to per"orm had the thought about it when they drew up their contract
-alert other party o" conse6uences during contract& ; seller or manu"acturer has a better
idea o" the conse6uences o" breach than a carrier o" the goods
critical test- ask whether "rom past dealings bw parties and supposed knowledge o"
promisor at time of contract that such a loss should ha(e been e%pected
e%pectation o" damages- amount awarded "or breach o" contract based on expected
pro"its
tort- award limited to damage only, not e%pected pro"its
why contracts award more- high (alue we place on making contracts reliable
-brokee lost opportunity cost&& could,(e made contract with someone else but lost chance
damage measure- cost o" "inding new buyer*seller, cost o" paying a less "a(orable than
original price&& 8" new price is better, no damages
conse6uential damages- damages breaker outght to ha(e known that "low naturally "rom
breach #lost resale transaction pro"its, damage claims "rom 3rd parties$
general damages- estimated amount that a court may award o(er speci"ic losses "or
harm that cant be calculated in precise monetary terms& 7ad plastic surgery
>eliance damages-costs o" e%penditures and wasted e""ort reasonably made in
preparation "or a cancelled contract
<i6uidated 3amages-amount agreed to be paid in damages by a party to conract should
it commit a breach
-gi(es incenti(e to promisor to per"orm #a(oid incurring liability "or stated amount$
-promisee to minimi-e actual loss #since it will be entitled to the stated amount in any
e(ent$
9enalty clause- term speci"ying an e%orbitant amount "or breach o" contract, intended to
"righten party into per"ormance&&& disregarded by courts&
Equitable Remedies- special non monetary remedies gi(en only when damages alone
will not aded6uately compensate "or a loss i&e& speci"ic per"ormance
re6uirements- plainti"" must not himsel" be "ound to ha(e acted unethically
b$plainti"" must not ha(e unreasonably delayed in bringing an action
c$court will re"use to inter(ene on e6uitable principles i" it would a""ect an innocent
purchaser
d$when plainti"" has not paid a substantial consideration "or the de"endant,s promise
#seal, and or nominal sum not enough$
e$party must be able to be awarded against had he been a de"endant& 8&e& won,t work on
minors, since minors can (oid contracts, so court won,t grant minor awards either
specific performance- order re6uiring de"endant to do a speci"ied act, usually to
complete transaction
each piece o" land is not (iewed as inherently uni6ue as was the (iew in the past&&
speci"ic per"ormance not always granted "or land purchases
/9 "or the (endor o" land may be granted+ reasons+gi(ing parties mutual remedies are
desired, and (endor would still ha(e to search "or new buyer and maintain land
otherwise
/9 rarely granted "or sale o" goods barring one o" kind goods, heirlooms, shares etc
Injunction-court order restraining a party "rom acting in a particular manner
-prohibits a party "rom committing a breach
re6uirement+ negati(e co(enant- a promise not to do something #may be implied$
-sometimes used in place o" /9 i" it doesn,t re6uire proacti(ity by courts #super(ision$,
whereas /9 might
Interlocutory Injunction- temporary restraining order, restrains immediate harm done
"rom breach o" contract
Injunction against employee- rare, lea(es employee unemployed&& used more o"ten
when employee has important trade secrets
RECISSION- when plainti"" wants not the e""ects o" a completed contract but to return to
the condition be"ore it was made
-not applicable i" good, ser(ice or product already consumed or signi"icantly
used*deteriorated
i" contract rescinded non legally, and the market price changed, courts can en"orce
recission under the new prices causing e%tra pro"its or losses #6uantum meruit$
i" contractor abandons pro2ect be"ore completion, he can,t reco(er anything
Enforcing a Judgement
i" debtor doesn,t pay or is in "inancial peril, the creditor #plainti""$ may sei-e as much o"
the debtor,s property as is necessary to satis"y the 2udgment& 8" assets insu""icient, there
is no "urther remedy & 3ebtor cannot be arrested