Quote:
Originally Posted by barryem
My sister's father in law, decades ago, had some property on which there was a lot of white stone. His best friend offered to lease it from him for a small sum, I think $18 a year if I remember the story correctly. The then began minging white gravel, a unique stuff that has been sold all over the USA at high prices in garden shops and such, making his friend millions.
He wanted to re-negotiate but the friend wasn't interested so he took him to court; and lost! The judge said the law says each side has to get something but it doesn't say how much and contract law doesn't prevent someone from making a bad deal. He appealed and he lost again.
Barry
|
Yes, contract law is basically common law, i.e. law set by judges. One judge might void a contract, while a different judge might uphold the contract. A third judge might just void part of the contract.