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Chapter 10

Chapter 10. Contracts in sport and physical activity. What is a Contract. In simple terms its an agreement between two or more parties that imposes some kind of obligation or responsibility on each May exist in written or oral form and must be considered in light of their effectiveness

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Chapter 10

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  1. Chapter 10 Contracts in sport and physical activity

  2. What is a Contract • In simple terms its an agreement between two or more parties that imposes some kind of obligation or responsibility on each • May exist in written or oral form and must be considered in light of their effectiveness • The effectivness of any contract is a simple matter of whether or not it results in the actions required of each of the parties

  3. What is a Contract • For a contract to be breached there has to be an understanding of both parties involved. There has to be specific steps performed • Meeting of minds • The parties to the contract must have a mutual understanding of the context and content of their agreement • Contracts are created when one or more parties makes an offer that is accepted by the other party • If the one party doesn’t accept the terms then they can make a counter offer, which must then be accepted by the other party • In order to have a legally binding contract then there must be some form of consideration, something of value must be exchanged

  4. What is a Contract • The enforceability of the contract will also depend on the specificity of the terms used • Poor language in a contract can lead to complications should the contract be litigated • All parties to a contract must have sufficient legal capacity for the contract to be binding and enforceable • Under law minors and persons who suffer from mental incapacity cannot be held to binding contractual agreements • These are considered voidable • Minors may enforce agreements they make, but they can also revoke them at will and remain free from contractual enforcement • The courts will also rarely enforce a contract that has at is core an illegal subject

  5. What is a Contract • Certain types of contracts are governed by a national series of laws based on a statutes known as the uniform commercial code • Has been modified state to state but some form holds true in every state • the types of contracts covered are • Commercial transactions • This would be the sale of good such as uniforms, basketballs, and equipment • Negotiable instruments • This would include checks, bills, of lading, letters of credit, and other documents used to facilitate the payment of monies for the sale of goods • Secured transactions • These are contracts in hich one party pledges or gives an intrests in goods as security for the transaction

  6. What If You Don’t Call It A Contract • It does not have to called a contract for the courts to view it as one. The following have been viewed as equivalent by the courts • Personnel manuals • By-laws of association • Company employee bulletins • Procedures manuals • College catalogs • Published rules and regulations • Operations manuals • Disciplinary rules • Waivers, permissions, releases and other exculpatory documents

  7. Contracts and the Courts • Not all contracts have to be in written form, there are still valid binding oral agreements being met • Someone seeking to enforce an oral contract will have a much harder time doing so. • The problem is trying to prove if there was a meeting of minds • There are some form of contracts that are not valid unless they are written down • This concept is referred to as the statute of frauds • This would include contracts that convey an interest in real property; contracts for the sale of goods valued more than $500; contracts to answer for the debt of another; and contracts which will not be performed within one year of their creation

  8. Parole Evidence Rule If a written contract is complete as written, then then parole evidence rule dictates that the court will not consider items outside of the contracts such as prior oral understandings, interpretations, or other written material

  9. Breach of Contract • A breach of contract occurs when one or more of the parties involved fails to fulfill the promises made in the contract • An immaterial or partial breach of contract is relatively minor or insignificant and generally will not cause the remainder of the contract to be rules invalid • A material or total breach usually excuses the injured party from fulfilling their promises and affords them the opportunity to sue for breach of contract

  10. Judicial Remedies for Breach of Contract • A party who sues for breach of contract must request the particular form of relief desired • This is known as election of remedies • In most cases the party will seek to recover damages, and more often than not money will make up the compensation • Sometimes the court requires the breaching party to honor the terms of the contract, either by completing the promised transaction or by fulfilling the promised act. • This is known as specific performance • The court may also issue an injunction that directs a party to perform a particular act or prohibits them from doing so • The courts may also order a rescission that cancels the contract and restores all parties to their original positions, or order reformation which rewrites the contract to conform to what the court determines to have been the original intent of the contract

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