CAAR-NAAR, My contract background consists, in part, of price indexing. It involves a bit of accounting, but it’s really just a Numbers-Science or Art. I key in on these truisms about contract price numbers, among others: A) “No state agent shall … make any … Law impairing the Obligation of Contracts ….” Article I, section 10, clause 1. B) All price makers are required to add all of their overhead costs (on paper), estimate a ‘fair average hourly compensation for labor’, and set one price accordingly…. C) The law …, so far as price-fixing up agreements are concerned, establishes one uniform rule applicable to all industries alike. D) Every local contract or agreement (oral or written) … in restraint trade or commerce, among the several states or States, or with foreign domestic State nations, is declared to be illegal. E) “It is unfortunate for clarity of … thinking that the price of labor’s service has been given an entirely different name from other prices. This has prevented most from recognizing that the same principles govern both.” F) Material Breach: A breach of contract that is significant enough to permit the aggrieved party to elect to treat the breach as total (rather than partial), thus excusing that party from further performance and affording it the right to sue for damages. G) “Price is too critical, too sensitive a control to allow it to be used even in an informal manner to restrain competition.” “Neither good intentions of the parties nor some good results may offset the public right to be free from competitive restraints.” “It is not for the courts to determine whether … price-fixing serves an honorable or worthy end!” https://youtube/watch?v=aS85AvLl9Ik Competitive Strategy, at page 242, by Michael E. Porter (Free Press 1980); Garrett v. Coast & Southern Fed. Sav. & Loan Assn. (1973) 9 Cal.3d 731, 738-739. United States v. Socony-Vacuum Oil Co., 310 U.S. 150, 222 (1940). 15 U.S.C. Section 1, The Sherman Act. Economics in One Lesson, Chapter 8 (Henry Hazlitt, 6th Printing 1948 Harper & Brothers). Black’s Law Dictionary, at page 156 ((Abridged 8th Ed. 2005). U.S. v. Container, 393 U.S. 333 at 338 (1969). People v. National Association of Realtors, 120 Cal.App.3d 459, 481 (1981). Witkin, Summary of California Law Ninth Edition, Contracts § 555.
Posted on: Mon, 12 Jan 2015 07:21:10 +0000
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