AUDIO Case Study – Contract Lessons from Lucy vs Zehmer on The Objective Theory of Contracts

Description

In this episode, we explore the seminal case of Lucy v. Zehmer (1954) and its impact on contract law, particularly the objective theory of contracts. This case clarifies that a contract is formed based on the outward expressions and actions of the parties, rather than their hidden intentions. For contract managers, this principle is crucial in understanding how agreements are assessed and enforced. We’ll break down the case and offer insights on how to ensure your contracts are clear, enforceable, and rooted in objective actions.