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Editing Laclede v. Amoco
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|arguments=Amoco argued that the contracts lacked mutuality. (Because of the early crisis in the early 1970s, Amoco wanted to either raise the price or stop selling propane before the end of the 1-year terms with fixed prices.) | |arguments=Amoco argued that the contracts lacked mutuality. (Because of the early crisis in the early 1970s, Amoco wanted to either raise the price or stop selling propane before the end of the 1-year terms with fixed prices.) | ||
|holding=There is consideration and mutuality. Laclede was bound by the contract to only purchase from Amoco. Specific performance is the proper remedy. | |holding=There is consideration and mutuality. Laclede was bound by the contract to only purchase from Amoco. Specific performance is the proper remedy. | ||
|judgment=Reversed. | |judgment=Reversed. | ||
|reasons=#Because Leclede gained a legal detriment from the agreement there is mutuality. If the cancellation clause were unrestricted (if Laclede could cancel at any time for any reason), then there would be no legal detriment and therefore no mutuality. However, Laclede could only cancel under limit circumstances and a limited timeframe so the contract can't be invalidated by the cancellation clause alone. | |reasons=#Because Leclede gained a legal detriment from the agreement there is mutuality. If the cancellation clause were unrestricted (if Laclede could cancel at any time for any reason), then there would be no legal detriment and therefore no mutuality. However, Laclede could only cancel under limit circumstances and a limited timeframe so the contract can't be invalidated by the cancellation clause alone. |