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A cork floats in water in a bucket resting on the floor of an elevator. The elevator then accelerates upward. During the acceleration:
Contractual Obligations
Duties that are legally required to be performed under the terms of a contract.
Foreseeable Loss
Losses that could have been anticipated or predicted as a consequence of an action or inaction, relevant in determining liability.
Non Est Factum
A defense in contract law where a party claims they were mistaken about the nature of the document signed, not merely its terms.
Caveat Emptor
A Latin phrase meaning "let the buyer beware," placing the responsibility on the buyer to perform due diligence before making a purchase.
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