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Contract Amendment
Contract Amendment Cartoons

Contract Amendment

Beneficial National Bank, U.S.A. v. Obie Payton; when the parties' original agreement specifically permits amendments, new terms may be added rather than just changes existing terms.
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Security Interest
Security Interest
Helms v. Certified Packaging Corp.; security interest includes the proceeds from a recovery for decreased value of collateral, and not for loss of use of the collateral; destroyed property; damaged property.
Stated Income Loan
Stated Income Loan
In re Dixon Ford; stated income mortgage; holder in due course; mortgage application fraud; loan application altered income stated.
Economic Loss Doctrine
Economic Loss Doctrine
Lincoln Co. v. Detroit Diesel Corp. General Insurance; breach of warranty; no exception to the economic loss doctrine for damages to a defective product when an inherent defect makes the product unreasonably dangerous.
Breach of Warranty
Breach of Warranty
Mydlach v. DaimlerChrysler Corp.; Magnuson-Moss Warranty Act; breach of warranty claim; statute of limitations; repair claims do not accrue upon delivery of the product.
Oral Promise
Oral Promise
Blinn v. Beatrice Community Hosp. and Health Center, Inc.; promissory estoppel; at-will employee; wrongful termination of employment.
Condition Precedent
Condition Precedent
Moore Bros. Co. v. Brown & Root, Inc.; prevention doctrine is if a promisor prevents or hinders fulfillment of a condition to his performance, the condition may be waived or excused.
Material Breach of Contract
Material Breach of Contract
Strouth v. Pools by Murphy and Sons, Inc.; A material breach of a contract by one party justifies the other party's termination of the agreement. Substantial performance doctrine.
Adequate Assurances
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By-Lo Oil Co. v. ParTech, Inc.; The mere fact that performance is to become due is not reasonable grounds for insecurity. Between merchants, the reasonableness of the grounds will be determined by commercial standards.
Four Corners Exception
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Beanstalk Group, Inc. v. AM General Corp.; A contract will not be interpreted literally if doing so would produce absurd results. The parties are presumed to be rational persons pursuing rational ends.
Reward Offer Acceptance
Reward Offer Acceptance
Glover v. Jewish War Veterans of United States; No contract is formed when one acts consistently with the terms of an offer of a reward, but without knowing of the offer, because there is no intention to accept the offer.
Moral Obligation as Consideration
Moral Obligation as Consideration
Mills v. Wyman; A promise based only on a moral obligation is made without consideration and not enforceable.
Promise to Impregnate
Promise to Impregnate
Perry v. Atkinson; there is no cause of action for the fraudulent breach of a promise to impregnate. Certain sexual conduct and interpersonal decisions are, on public policy grounds, outside the realm of tort liability.