Price Setting

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Customer Reviews

Casserlie v. Shell Oil Co.; claim for bad faith price setting; a price in an open price contract is set in good faith if it is commercially reasonable and nondiscriminatory; disparate pricing between jobbers and dealers is not evidence of discrimination

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Statutes of Repose

Peters v. Riggs Natl. Bank, N.A.; Equitable tolling does not apply to statutes of repose; statute of limitation; the time limit can be shortened by contract or mutual agreement.

Third Party Beneficiary Contract

Basic Capital Management, Inc. v. Dynex Commercial, Inc.; benefit to third party must be written in the contract; court will not create a third party beneficiary contract by implication; no implied contract for third party.

Incorporation by Reference

Grandis Family Partnership, Ltd. v. Hess Corp.; arbitration agreement incorporated by reference; independent document.

Doctrine of Avoidable Consequences

In re WorldCom, Inc.; the duty to mitigate damages bars recovery for losses suffered by a non-breaching party that could have been avoided by reasonable effort and without the risk of substantial loss or injury.

Liquidated Damages in Consumer Contracts

Cellphone Termination Fee Cases; Liquidated damages provisions in consumer contracts are presumed void, and the burden is on the proponent of such clauses to rebut that presumption.

Preliminary Injunction Contract Term

Ed Bertholet & Associates, Inc. v. Ed Stefanko; Contract provisions requiring the issuance of an injunction are not binding on the trial court; granting or denying a preliminary injunction rests within the trial court's equitable discretion,

Gift is Not Consideration

Pennsy Supply, Inc. v. American Ash Recycling Corp.; The bargain theory of consideration does not actually require that the parties bargain over the terms of the agreement; rather, a promise and a reciprocal conventional inducement.

Damages for Tortious Interference with Contract

Rite Aid Corp. v. Lake Shore Investors; damages for tortious contractual interference may include pecuniary loss of the benefits of the contract; consequential losses; emotional distress and actual harm to reputation, and punitive damages.

Implied Covenant of Good Faith and Fair Dealing

De La Concha of Hartford, Inc. v. Aetna Life Insurance Company; breach of the implied covenant of good faith and fair dealing implies actual or constructive fraud, design to mislead or deceive, or neglect or refusal to fulfill contractual obligation.

Mailbox Rule

United States Life Insurance Company v. Wilson; the common-law rule providing that acceptance of an offer is effective when it is sent will apply to electronic transactions that resemble traditional paper transactions.

Repudiate a Contract

Rocheux Int'l of N.J. v. U.S. Merchants Fin. Group; whether one party repudiated a contract or provided adequate assurance of future performance are questions of fact that must be decided by the trier of fact based on commercial standards.

Conduct as Contract Waiver

Wisconsin Knife Works v. National Metal Crafters; under the Uniform Commercial Code, an attempt at contract modification that does not satisfy a contractual requirement that modifications be in writing can operate as a waiver.

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