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Case Citations [1] (July 2020 - April 2021)

handle is hein.ali/seccontract0191 and id is 1 raw text is: CONTRACTS 2D Generally W.Va.2020. Cit. generally in disc. Auction bidder sued auctioneer, alleging that defendant permitted third-party bidder to make bids on property being sold at the auction despite the fact that third-party bidder did not qualify to make bids under defendant's express terms published in its advertisements and auction catalogs, which resulted in plaintiff bidding at a higher price than necessary. The trial court granted plaintiff's motion for summary judgment. This court affirmed, holding, as a matter of first impression, that the terms and conditions of the auction stated in defendant's advertisements and catalogs imposing certain qualifications on prospective bidders constituted an enforceable agreement between the parties under Restatement Second of Contracts § 28, and defendant violated the terms and conditions when it required plaintiff to meet those qualifications before bidding but did not do the same for third-party bidder. The court noted that it looked to the Restatement Second of Contracts for guidance in analyzing contract requirements in the context of auctions. Alex Lyon & Son, Sales Managers & Auctioneers, Inc. v. Leach, 844 S.E.2d 120, 126. CHAPTER 1. MEANING OF TERMS § 1. Contract Defined C.A.8, 2020. Cit. and quot. in sup.; com. (f) quot. in sup. Surety that relied on a letter of credit from credit union to issue payment and performance bonds to construction contractor brought claims for wrongful repudiation and wrongful dishonor of a letter of credit under North Dakota law against National Credit Union Administration Board, after defendant appointed itself conservator of credit union and repudiated the letter of credit. The district court granted defendant's motion to dismiss, finding that defendant was authorized to repudiate contracts such as the letter of credit under a federal statute that preempted conflicting North Dakota law. Reversing and remanding for further proceedings, this court held that, while the letter of credit was a contract for purposes of the federal statute, it was premature at this stage to declare that the federal statute actually conflicted with and preempted North Dakota law. The court explained that the promise made by credit union in the letter of credit was a legally enforceable obligation to issue funds that fit within the common-law definition of a contract set forth in Restatement Second of Contracts § 1. Granite Re, Inc. v. National Credit Union Administration Board, 956 F.3d 1041, 1045, 1046. Wash.App.2020. Quot. in sup. Condominium-unit owners, on behalf of themselves and other unit owners, brought claims of breach of contract and breach of the implied covenant of good faith and fair dealing against, among others, residential condominium association, alleging that defendant breached a residential declaration and a master declaration defining the rights and responsibilities of all owners of residential or commercial property on the development encompassing the condominium by improperly and disproportionately relegating common-area expenses to unit owners. The trial court granted defendant's motion for judgment on the pleadings. This court affirmed, holding that plaintiffs failed to COPYRIGHT ©2021 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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