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Describe the literal approach to contractual interpretation

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LGST A3 Part A Mini Essay:

Describe the literal approach to contractual interpretation and explain how it may cause problems. Provide an example to illustrate your point. How might other approaches overcome this difficulty? Describe and explain them in the business context.

Part B Mini Essay:

"Reliance damages cannot be used to escape the consequences of a bad bargain." Explain the meaning of that statement in the context of business contracts. Explain the justification for that legal principle. Provide an example that illustrates your explanations.

Reference no: EM132425409

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