Legal Memoradum Essay Example | Topics and Well Written Essays - 1500 words

Legal Memoradum - Essay Example First, the subsistence of the situational constraint (the contract) is expected to be predominantly significant, which makes a cause more likely to be professed as causal. Yes, Mr. Moran can claim damages from the two companies namely, Mining Inc and Irving Cooper, Mr. Moran just need to file the commenced actions in the State of New York because he signed the negotiation with Mining Inc in Manhattan, and at the same he also have to file for the commenced actions in Minnesota because the principal company of Coal is there. We just received a frantic telephone call from our client, Coal Corp.. (a Colorado corporation) with its principal place of business in Minnesota. In September, 2004 Coal entered into a written contract with Mining, Inc. (a Montana corporation with its principal place of business in Montana) and Irving Cooper (a private entrepreneur who resides in New Jersey) pursuant to which Mining and Mr. Cooper agreed to manufacture and install for Coal a large quantity of electronic mining equipment which Coal needs in Minnesota. Joseph Moran (who resides in Butte, Montana) executed a written guarantee in which he guaranteed the due and prompt performance by Mining and Cooper under the contract. Moran sent the guarantee to Mining in Minnesota and Mining delivered the guarantee to Coal at the time the contract was executed. Mining and Cooper manufactured some of the equipment in its Minnesota specialty plant and installed that equipment. Mining and Cooper, however, have failed to perform several of their material obligations under the contract. As a result of their breach Coal has sustained, in its estimation, more than $1,000,000 in damages. Mining and Coal negotiated the contract in Manhattan. The contract which Mining and Coal executed at Kennedy Airport provides that any action for breach must be commenced within two years from the date of the breach. Cooper executed the contract the same day in New Jersey and sent it to Coal in Minnesota. The guarantee has a similar clause requiring that an action on the guarantee he brought within two ears fi-om the date of any breach of the contract (Cheeseman, 2004). According to the preliminary information we received, the initial breach of contract occurred two years ago today. Moran claims that John Rich (who now resides in St. Paul but was an officer of Buffalo Trust Co., in Buffalo New York at the time it, Buffalo Trust, lent Mining Inc. $500,000 in early 2004) together with Cooper and Coal fraudulently induced him into signing the guarantee and defrauded him into purchasing certain assets from Mining. Discussion Contracts are frequently utilized to bind an agreement among parties in order to make sure that the agreement is fulfilled. The complexity with contracts is that they provide the transacting parties an opening to credit to their support to the contract rather than to each other's reasonable or decent intentions. Consequently, contracts may keep a tight rein on interacting parties' enthusiasm or facility to judge each other as being generous or possessing reliability, and fundamental confidence may