Posted on 09/10/2007 12:14:52 PM PDT by raseth
How does renegotiation of contracts not fall under consideration? How do athletes, etc., get away with renegotiating the contract and why do the institutions not sue for the first contract agreed upon?
Now if a football player has a contract and then renegotiates for a higher salary, why does the same rule not apply? He agreed to the terms and now wants more money. I understand the "options contract" in Restatement 2d, but that's not law and only influences the court. why is it not consideration in the 2nd scenario but consideration in the first?
any help will be greatly appreciated!!!!
Would a 20pound weight be like 30 for a football player under contract?
That is so irritating, really.
(Psssst....hint: Contract Modifications. Legal and binding. Agreed to by both parties. Signed by both parties unless unilateral.)
"Wouldn't you be better suited for a Philosophy Major? "
Welcome to FreeRepublic. FYI, you might receive more responses by asking your question on a legal forum of some type. There’s gotta be hundreds of good one’s out there.
Yeah, but this is more fun.
So, what color of socks do you have on today?
This is part of the offer/acceptance/consideration triad. Legally, an offer to renegotiate an existing contract is an offer to negotiate a new contract.
Now if a football player has a contract and then renegotiates for a higher salary, why does the same rule not apply? He agreed to the terms and now wants more money. I understand the "options contract" in Restatement 2d, but that's not law and only influences the court. why is it not consideration in the 2nd scenario but consideration in the first?
any help will be greatly appreciated!!!!
Before you spend time trying to put together a coherent response to your law professor's question, might I suggest that you brush up on the use of the English language? Your post is rambling and is full of spelling errors and grammatical mistakes. If your response to your professor's question is 100% accurate, but is written as poorly as your post, I would expect you to receive a "dressing down" from your professor. Better you get it from me, than from the person who will be grading your work.
Here, there is no consideration for the renegotiated price because there was no change in the agreed upon terms and performance has already been tendered. The promisee is simply entitled to the benefitof the deal.
A football player has a contract and then renegotiates for a higher salary.
Lets assume this is a two-year deal and the player refuses to perform for the second year. The player is in breach, which entitles the team to sue for breach. But the team cannot sue its way to a championship - so the deal is "renegotiated." This is either a repudiation and a new contract, which sets the "damages" for the repudiation, or a modification of the previous agreement. Either way, the parties have bargained for and reached agreement on a new contract with different terms - which is consideration.
Here! Here!
“A clear and definite mind is a rarity; an artist in the use of words is as great a rarity.” See George M. Brewster & Son v. Catalytic Const. Co. 17 N.J. 20, 32 (N.J. 1955) quoting Corbin on Contracts, § 534.
I vaguley recall it having to do with this type of contract being essentailly a ‘personl services’ contract and that you are not selling something on the open market that just anyone can provide, it is their life.
If it turns out to be more valuable there is a clause for both barties to renegotiate- and both perties come in knowing the invitationt orenogotiate is open to both parties.
This is the same reason they can ‘cut’ someone and not be held accountable for the balance of the contract.
But hey, i’m no lawyer- i have class and dignity
It’s too early in the semester. In discussing matters with friends of mine in the Marines, I realized that the first six weeks of law school is just like basic training. Never volunteer for anything. You don’t know enough to know what you don’t know. Your classmates—who you made look dumb or smart, based on the quality of your answer—are regardless waiting for you in the hallway after class with a bar of soap in a sock. (this is absolutely tongue in cheek-most profs value participation, but a good question to ask before raising your hand is: “Is what I’m about to say worth the attention of 95 other people and delaying the progress of class.” It’s also helpful to write down your question before you ask it or before you stop by the prof’s office.)
—You can’t answer this question without looking at the contract and without knowing if there are additional facts out there. Blackletter law is useless without the facts.
—As another poster noted, employment contracts can be “renegotiated” because of changed circumstances. Although subject to a negative injunction against working for another team, a player can always threaten not to play without additional pay. Damages in employment contracts are iffy for the employer and difficult to prove without a liquidated damages clause.
—Your first hypo is not consideration, it’s a pre-existing duty as you’ve explained it. See Alaska Packers v. Domenico (the fishing union case, a standard I remember from law school that appears in virtually every K casebook). In other words, if two parties agree to a contract and then one party demands more money for performing the terms of the contract, the purportedly modified contract is unenforceable for want of consideration. On the other hand, if the parties modify their respective performances—greater salary in exchange for an extra year of performance, for example—then it’s enforceable.
Quit.
Now.
Turn back from law and run — don’t walk — run away as fast and as far as you can.
None. They're all soaking in a basin. You know what the month of September is for.
Time to wash socks again!
I signed a contract for a new beiber, but I kept getting stuned...think I have a case?
LOL! I loved the movie and the show.
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