This Restatement clarifies how the classic principles of contract law embodied in the Restatement of the Law Second, Contracts, have evolved and been applied by courts adjudicating consumer-contract disputes. The principles of fairness and anti-deception that guide regulatory consumer-protection law, to the extent they are consistent with the common law of contracts and the Uniform Commercial Code, are also captured by the Restatement.
Reporters:
Oren-Bar-Gill, Harvard Law School, Cambridge, MA
Omri Ben-Shahar, University of Chicago Law School, Chicago, IL
Florencia Marotta-Wurgler, New York University School of Law, New York, NY
TABLE OF CONTENTS
Section Page
Project Status at a Glance ...................................................................................... xiii
Foreword ................................................................................................................. xiv
Reporters’ Memorandum ......................................................................................... xv
Reporters’ Introduction .............................................................................................. 1
§ 1. Definitions, Scope, and Outline .......................................................................... 9
§ 2. Adoption of Standard Contract Terms ............................................................... 22
§ 3. Adoption of a Modification of Standard Contract Terms .................................... 66
§ 4. Discretionary Obligations .................................................................................. 82
§ 5. Unconscionability .............................................................................................. 91
§ 6. Deception ......................................................................................................... 118
§ 7. Affirmations of Fact and Promises that Are Part of the Consumer Contract ..... 129
§ 8. Standard Contract Terms and the Parol Evidence Rule ................................... 137
§ 9. Effects of Derogation from Mandatory Provisions ............................................ 143
Appendix. Black Letter of Tentative Draft No. 2 ......................................................... 152
Tentative Draft No. 2 contains the entire project (§§ 1-9). The membership voted to approve this draft at the 2022 Annual Meeting, subject to the approved motion to add a new § 2, discussion at the Meeting, and editorial prerogative. This material may be cited as representing the Institute’s position until the official text is published.
TABLE OF CONTENTS
Section Page
Project Status at a Glance ...................................................................................... xiii
Foreword ................................................................................................................. xiv
Reporters’ Memorandum ......................................................................................... xv
Reporters’ Introduction .............................................................................................. 1
§ 1. Definitions, Scope, and Outline .......................................................................... 9
§ 2. Adoption of Standard Contract Terms ............................................................... 22
§ 3. Adoption of a Modification of Standard Contract Terms .................................... 66
§ 4. Discretionary Obligations .................................................................................. 82
§ 5. Unconscionability .............................................................................................. 91
§ 6. Deception ......................................................................................................... 118
§ 7. Affirmations of Fact and Promises that Are Part of the Consumer Contract ..... 129
§ 8. Standard Contract Terms and the Parol Evidence Rule ................................... 137
§ 9. Effects of Derogation from Mandatory Provisions ............................................ 143
Appendix. Black Letter of Tentative Draft No. 2 ......................................................... 152
Tentative Draft No. 2 contains the entire project (§§ 1-9). The membership voted to approve this draft at the 2022 Annual Meeting, subject to the approved motion to add a new § 2, discussion at the Meeting, and editorial prerogative. This material may be cited as representing the Institute’s position until the official text is published.