Commentaries on the Law of Contracts: Being a Consideration of the Nature and General Principles of the Law of Contracts and Their Application in Various Special Relations, Volume 1Bobbs-Merrill Company, 1913 - Contracts |
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Other editions - View all
Common terms and phrases
acceptance action Admr affd agent agreement Allen Mass assent Assn avoid Bank Barb binding bound Brown Chicago &c Clark Colo common law Conn contract conveyance court court of equity coverture creditor Davis debt deed defendant disaffirm duress effect enforced equity estopped executed executory fact feme covert fraud held husband infant insane intention Iowa Johnson Jones Kans land liable Lumber Maine marriage ment Metc Miller Minn Misc Miss mistake mortgage N. J. Eq N. Y. St Nebr necessities Northwestern Mut obligation offer Ohio St party payment person plaintiff promise to pay purchaser ratified reasonable recover rendered representation rule sideration Smith statute sufficient consideration Tenn tion tract valid vendor void voidable Wend Western Union Williams
Popular passages
Page 741 - In acquiring, investing, reinvesting, exchanging, retaining, selling and managing property for the benefit of another, a fiduciary shall exercise the judgment and care, under the circumstances then prevailing, which men of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation but in regard to the permanent disposition of their funds, considering the probable income as well as the probable safety of their capital.
Page 427 - To give a third party, who may derive a benefit from the performance of the promise, an action, there must be, first, an intent by the promisee, to secure some benefit to the third party, and second, some privity between the two, the promisee and the party to be benefited, and some obligation or duty owing from the former to the latter which would give him a legal or equitable claim to the benefit of the promise, or an equivalent from him personally.
Page 17 - In considering this very interesting question we immediately ask ourselves, what is a contract? Is a grant a contract? A contract is a compact between two or more parties, and is either executory or executed. An executory contract is one in which a party binds himself to do or not to do a particular thing; such was the law under which the conveyance was made by the governor.
Page 487 - All contracts, whether by specialty or by simple contract, henceforth entered into by infants for the repayment of money lent or to be lent, or for goods supplied or to be supplied (other than contracts for necessaries), and all accounts stated with infants, shall be absolutely void : provided always, that this enactment shall not invalidate any contract into which an infant may, by any existing or future statute, or by the rules of common law or equity, enter, except such as now by law are voidable.
Page 704 - A contract of two or more competent persons, to place their money, effects, labor and skill, or some or all of them, in lawful commerce or business, and to divide the profit and bear the loss in certain proportions.
Page 142 - ... the law does not exact good faith from a seller in those vague commendations of his wares which manifestly are open to difference of opinion, which do not imply untrue assertions concerning matters of direct observation, (Teague v. Irwin, 127 Mass. 217,) and as to which it always has been "understood" the world over, that such statements are to be distrusted.
Page 781 - A corporation is an artificial being, invisible, intangible, and existing only in contemplation of law. Being the mere creature of law, it possesses only those properties which the charter of its creation confers upon it, either expressly, or as incidental to its very existence.
Page 130 - But mere silence is quite different from concealment; aliud est tacere, aliud celare; a suppression of the truth may amount to a suggestion of falsehood; and if, with intent to deceive, either party to a contract of sale conceals or suppresses a material fact, which he is in good faith bound to disclose, this is evidence of and equivalent to a false representation, because the concealment or suppression is in effect a representation that what is disclosed is the whole truth.
Page 337 - A valuable consideration in the sense of the law may consist either in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss, or responsibility given, suffered, or undertaken by the other.
Page 283 - ... was entertained, or after whom the reversionary interest was to become vested in possession, — even although such parent or other person took no active part in the negotiation ; provided the transaction was not opposed by him, and so carried through in spite of him.