interpretation & good faith

Question 1

Hierarchy of Statutory Interpretation
SO JCL

Answer 1

• statutory language
• official comments
• judicial opinion
• commentators (legal scholars)
• legislative history

Question 2

Hierarchy of Interpretation Rules – always goes from

Answer 2

the most specific, to more broad

Question 3

Hierarchy of Interpretation Rules Ex - Sc (pdt) - simi (gap) - Gen (imp) - GF

Answer 3

• express wording (four corner)
• surrounding circumstances
  * course of performance. course of dealing , usage of trade
• similar contracts (gap fillers)
• general rules on contracts (implied)
• good faith

Question 4

requirement contracts A GF N(o) U B

Answer 4

• actual output or requirements as may occur in good faith,
• except not unreasonably disproportionate to any stated estimate or otherwise comparable
• seller and buyer must use their best efforts

Question 5

termination of commercial or employment contracts

Answer 5

• must both be in good faith unless..
• at all will employee or
• commercial contract states that the contract can be terminated at any time

Question 6

perfect tender rule

Answer 6

A buyer can reject nonconforming goods.

• If the seller reasonably believes the buyer will accept, they may have time to cure. even if time has passed. must notify the seller
  ​​- If the seller delivers goods that don’t meet the contract requirements (non-conforming goods) and the deadline for performance (time for performance) hasn’t passed yet, the seller can fix the problem (cure) by delivering the correct goods — as long as the seller notifies the buyer in time (seasonably).