Chapter 11: Contract Interpretation Flashcards Preview

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Flashcards in Chapter 11: Contract Interpretation Deck (14):
1

Ambiguity (Williston)

Plain meaning-> ambig if judge says so based on reading of k

2

Ambiguity (Corbin)

All evidence-> evidence is admissible to show it is ambig

3

Ambiguous (def)

a k does not clearly address an issue that has arisen in performance

4

Ambiguity (types)

Patent, latent, Ambiguous gap

5

Patent (Def)

Face of document

6

Patent (types)

1)use ambig word or phrase, 2) grammatical sloppiness, 3) terms conflict

7

Latent (def)

Revealed after learning additional info

8

Ambiguous gap (def)

Silent or incomplete regarding an issue

9

Gap filling (def)

When courts address the gaps (create reasonable terms)

10

Contract interpretation rules

Course of performance, course of dealing, admissions during negotiations, trade usuage, reasonable and consistent with public policy, contra proferentem

11

Course of performance (def)

Best evidence: how it was actually performed

12

Course of dealing (def)

Look at prior contracts of same issue

13

Trade usage (def)

standard usage

14

Contra Proferentem (def)

interpreted against the drafter