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McMichael V. Price
''McMichael v. Price'', 58 P.2d 549 (OK 1936), was a case decided by the Supreme Court of Oklahoma that held that a constraint on discretion was enough to ensure mutuality of obligation in a requirements contract A requirements contract is a contract in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services exc .... Factual background The plaintiff Harley T. Price formed a contract with defendant W.M. McMichael to enter the sand business, Sooner Sand Company on February 25, 1929. Specifically, part of the contract read that: riceagrees to purchase and accept from cMichaelall of the sand ... which ricecan sell ..." When McMichael refused to sell the sand, Price sued for breach of contract in Tulsa county. The trial jury found for plaintiff Price, and McMichael appealed. Decision The Supreme Court of Oklahoma affirmed the ver ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Oklahoma
The Supreme Court of Oklahoma is a court of appeal for non-criminal cases, one of the two highest judicial bodies in the U.S. state of Oklahoma, and leads the judiciary of Oklahoma, the judicial branch of the government of Oklahoma.Okla Const. art. VII, § 4 Oklegal.net (accessed May 23, 2013) The Oklahoma Supreme Court meets in the , having previously met in the until 2011.Hoberock, Barbara [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consideration
Consideration is a concept of English common law and is a necessity for simple contracts but not for special contracts (contracts by deed). The concept has been adopted by other common law jurisdictions. The court in ''Currie v Misa'' declared consideration to be a “Right, Interest, Profit, Benefit, or Forbearance, Detriment, Loss, Responsibility”. Thus, consideration is a promise of something of value given by a promissor in exchange for something of value given by a promisee; and typically the thing of value is goods, money, or an act. Forbearance to act, such as an adult promising to refrain from smoking, is enforceable if one is thereby surrendering a legal right. Consideration may be thought of as the concept of value offered and accepted by people or organisations entering into contracts. Anything of value promised by one party to the other when making a contract can be treated as "consideration": for example, if A contracts to buy a car from B for $5,000, A's c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Requirements Contract
A requirements contract is a contract in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services exclusively from the first party. For example, a grocery store might enter into a contract with the farmer who grows oranges under which the farmer would supply the grocery store with as many oranges as the store could sell. The farmer could sue for breach of contract if the store were thereafter to purchase oranges for this purpose from any other party. The converse of this situation is an output contract, in which one buyer agrees to purchase however much of a good or service the seller is able to produce. Problems Consideration Several problems typically arise with requirements contracts. The first is consideration. There would technically be no breach of the contract if the buyer bought nothing because the buyer is agreeing to buy only ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract
A contract is a legally enforceable agreement between two or more parties that creates, defines, and governs mutual rights and obligations between them. A contract typically involves the transfer of goods, services, money, or a promise to transfer any of those at a future date. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or rescission. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Contract law, like other areas of private law, varies between jurisdictions. The various systems of contract law can broadly be split between common law jurisdictions, civil law jurisdictions, and mixed law jurisdictions which combine elements of both common and civil law. Common law jurisdictions typically require contracts to include consideration in order to be valid, whereas civil and most mixed law jurisdictions solely require a meeting of the mind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jury
A jury is a sworn body of people (jurors) convened to hear evidence and render an impartiality, impartial verdict (a Question of fact, finding of fact on a question) officially submitted to them by a court, or to set a sentence (law), penalty or Judgment (law), judgment. Juries developed in England during the Middle Ages and are a hallmark of the English common law system. As such, they are used by the United Kingdom, the United States, Canada, Ireland, Australia, and other countries whose legal systems were derived from the British Empire. But most other countries use variations of the European Civil law (legal system), civil law or Islamic sharia, sharia law systems, in which juries are not generally used. Most trial juries are "petit juries", and usually consist of twelve people. Historically, a larger jury known as a grand jury was used to investigate potential crimes and render indictments against suspects. All common law countries except the United States and Liberia hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illusory Promise
In contract law, an illusory promise is one that courts will not enforce. This is in contrast with a contract, which is a promise that courts will enforce. A promise may be illusory for a number of reasons. In common law countries this usually results from failure or lack of consideration (see also consideration under English law Consideration is an English common law concept within the law of contract, and is a necessity for simple contracts (but not for special contracts by deed). The concept of consideration has been adopted by other common law jurisdictions, includin ...). Illusory promises are so named because they merely hold the illusion of contract. For example, a promise of the form, "I will give you ten dollars if I feel like it," is purely illusory and will not be enforced as a contract. It is a general principle of contract law that courts should err on the side of enforcing contracts. Parties entering into the arrangement presumably had the intention of formin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Contract Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1936 In United States Case Law
Events January–February * January 20 – George V of the United Kingdom and the British Dominions and Emperor of India, dies at his Sandringham Estate. The Prince of Wales succeeds to the throne of the United Kingdom as King Edward VIII. * January 28 – Britain's King George V state funeral takes place in London and Windsor. He is buried at St George's Chapel, Windsor Castle * February 4 – Radium E (bismuth-210) becomes the first radioactive element to be made synthetically. * February 6 – The IV Olympic Winter Games open in Garmisch-Partenkirchen, Germany. * February 10– 19 – Second Italo-Ethiopian War: Battle of Amba Aradam – Italian forces gain a decisive tactical victory, effectively neutralizing the army of the Ethiopian Empire. * February 16 – 1936 Spanish general election: The left-wing Popular Front coalition takes a majority. * February 26 – February 26 Incident (二・二六事件, ''Niniroku Jiken''): Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oklahoma State Case Law
Oklahoma (; Choctaw: ; chr, ᎣᎧᎳᎰᎹ, ''Okalahoma'' ) is a state in the South Central region of the United States, bordered by Texas on the south and west, Kansas on the north, Missouri on the northeast, Arkansas on the east, New Mexico on the west, and Colorado on the northwest. Partially in the western extreme of the Upland South, it is the 20th-most extensive and the 28th-most populous of the 50 United States. Its residents are known as Oklahomans and its capital and largest city is Oklahoma City. The state's name is derived from the Choctaw words , 'people' and , which translates as 'red'. Oklahoma is also known informally by its nickname, " The Sooner State", in reference to the settlers who staked their claims on land before the official opening date of lands in the western Oklahoma Territory or before the Indian Appropriations Act of 1889, which increased European-American settlement in the eastern Indian Territory. Oklahoma Territory and Indian Territory ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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