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Library of Congress Cataloging-in-Publication Data

Burton, Steven J.

Elements of contract interpretation / Steven J. Burton. p. cm.

Includes bibliographical references and index. ISBN 978-0-19-533749-5 ((hardback) : alk. paper)

1.Contracts—United States—Interpretation and construction. I. Title. KF801.B875 2009

346.7302—dc22

2008032375

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Printed in the United States of America on acid-free paper

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Preface xi
1. Goals, Tasks, and Theories	1
§ 1.1. Goals of Contract Interpretation			1
§ 1.1.1. The Contractual Freedoms				3
§ 1.1.2. Other Goals	7
§ 1.2. Tasks in Contract Interpretation			8
§ 1.2.1. Unambiguous Terms		9
§ 1.2.2. Kinds of Ambiguous Terms				12
§ 1.2.3. Resolving Ambiguities			14
§ 1.2.4. The Limits of Parties’ Intention 15
§ 1.3. Theories of Contract Interpretation				17
§ 1.3.1. Literalism	17
§ 1.3.2. Objectivism	21
§ 1.3.3. Subjectivism 28
2. The Elements 35
§ 2.1. Literalist Elements	36
§ 2.1.1. The Words of the Contract				37
§ 2.1.2. Dictionaries	38
§ 2.1.3. Literalism and Context			38
§ 2.2. Objectivist Elements	41
§ 2.2.1. The Whole Contract		41
§ 2.2.2. Objective Circumstances			42
§ 2.2.3. Purpose(s)	44

vii

VIII

CONTENTS

§ 2.2.4. Ordinary Meanings			45
§ 2.2.5. Trade Usages and Customs					47
§ 2.2.6. Legal Precedents and Statutory Deﬁnitions							48
§ 2.2.7. Practical Construction (Course
of Performance) 50
§ 2.3. Subjectivist Elements	51
§ 2.3.1. Prior Course of Dealing				52
§ 2.3.2. The Course of Negotiations					54
§ 2.3.3. A Party’s Testimony as to Its Intention 56
§ 2.3.4. Subjective Circumstances				56
§ 2.4. Guides to Interpretation		57
§ 2.4.1. “Standards of Preference in Interpretation”							57
§ 2.4.2. Canons of Interpretation				59
§ 2.4.3. Good Faith in Interpretation					60
§ 2.5. Relevant Non-Interpretive Rules				61
3. Identifying the Terms 63
§ 3.1. The Parol Evidence Rule		63
§ 3.1.1. Statement of the Rule			64
§ 3.1.2. Goals of the Rule		69
§ 3.2. Integrated Written Contracts			70
§ 3.2.1. Writings and Electronic Records						71
§ 3.2.2. Kinds of Integrated Agreements						74
§ 3.2.3. Establishing a Document’s State of Integration 77
§ 3.3. Non-Consequences of Integration				93
§ 3.3.1. Collateral Agreements			94
§ 3.3.2. Formation, Invalidating Causes, and
Conditions	97
§ 3.3.3. Finding and Resolving Ambiguity						103
4. The Ambiguity Question 105
§ 4.1. The Nature of Ambiguity		106
§ 4.2. The Law of Ambiguity	109
§ 4.2.1. The Plain Meaning and Four Corners Rules							109
§ 4.2.2. Decision Procedures			111

C O N T E N T S

§ 4.2.3. Judge and Jury			118
§ 4.2.4. The Parol Evidence Rule Distinguished									120
§ 4.3. Unambiguous Contracts				122
§ 4.3.1. Literal Meaning of a Word or Phrase								123
§ 4.3.2. The Plain Meaning of a Document								126
§ 4.3.3. Extrinsic Evidence				128
§ 4.4. Ambiguous Contracts			134
§ 4.4.1. Term Ambiguity				134
§ 4.4.2. Sentence Ambiguity					134
§ 4.4.3. Structural Ambiguity					136
§ 4.4.4. Vagueness		137
§ 4.5. No Need to Find Ambiguity? 138
§ 4.5.1. Corbin	138
§ 4.5.2. The Restatement (Second) of Contracts									139
§ 4.5.3. The Uniform Commercial Code 140
§ 4.6. Criticisms of the Plain Meaning and Four
Corners Rules	143
§ 4.6.1. Subjectivist Criticisms						144
§ 4.6.2. Objectivist Rejoinders						146
5. Resolving Ambiguities	151
§ 5.1. The Roles of Judge and Jury					152
§ 5.1.1. Question of Law or Fact? 152
§ 5.1.2. Literalism, Judge, and Jury 155
§ 5.1.3. Objectivism, Judge, and Jury							156
§ 5.1.4. Subjectivism, Judge, and Jury							157
§ 5.1.5. Jury Instructions				157
§ 5.2. Judicial Resolution of Ambiguity						158
§ 5.2.1. Ordinary Meanings					159
§ 5.2.2. The Whole Contract					162
§ 5.2.3. The Course of Negotiations							165
§ 5.2.4. The Circumstances					168
§ 5.2.5. Purpose(s)		170
§ 5.2.6. Statements of the Parties’ Intention or
Understanding				172

X CONTENTS

§ 5.2.7. Trade Usages and Customs				173
§ 5.2.8. Course of Dealing			176
§ 5.2.9. Practical Construction (Course of
Performance)		178
§ 5.2.10. Statutes and Judicial Precedents					180
§ 5.2.11. Standardized Agreements 181
§ 5.2.12. Reasonableness, Lawfulness, and Fairness						182
§ 5.3. Non-Existent or Ambiguous Contexts				186
§ 5.3.1. Default Rules	186
§ 5.3.2. Interpretation Against the Drafter					187
§ 5.3.3. No Agreement	188
§ 5.4. Special Kinds of Contracts		189
§ 5.4.1. Insurance Contracts			189
§ 5.4.2. Others 191
6. Objective Contextual Interpretation			193
§ 6.1. The Three Tasks in Contract Interpretation					194
§ 6.1.1. Identifying Contract Terms				195
§ 6.1.2. The Question of Ambiguity				203
§ 6.1.3. Resolving Ambiguity			211
§ 6.2. Pluralism, Economic Analysis, and Conventionalism						214
§ 6.2.1. Pluralist and Monist Theories				214
§ 6.2.2. Economic Analysis		218
§ 6.3.3. The Conventions of Language Use					220
§ 6.3. Summary of Major Points		223

Index 227

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