Problem 1: Why are the non-legal factors in a contractual relationship so important? Why is it important to place contract law in a business context?
Problem 2: How important is it to be aware of the law when negotiating a contract? Does it depend on whom you negotiate with? Does it depend on the size and complexity of the contract in question?
Problem 3: What is the value of certainty so important to contract law? Does elevating this value lead to unfair results?
Problem 4: What risk do negotiators face if they lack knowledge of the rules of contract?
Problem 5: What is the justification for changing the traditional common law rule that contractual variations must be supported by fresh consideration? Explain
Problem 6: Do you think that the doctrine of promissory estoppel serves a useful purpose? Would it not be easier if the law simply insisted that all contractual variations be supported by consideration?