Introduction to Contracts and Their Formation Its a deal, Ill take it OBE-118, Section 10 Fall 2004 Basic Elements of a Contract Usually looked at as six elements
Agreement (or Mutual Assent) These four are Consideration sometimes Capacity called the elements Legality Genuineness of assent
Defenses to Formation Writing and Form Classifying Contracts
Bilateral versus Unilateral Express versus Implied Formal versus Informal Valid, Void, Voidable, and Unenforceable Formation Mutual Agreement or Mutual Assent Requires acceptance of an offer The objective theory of contracts resolves issues as to what was an offer,
Offer Basic Elements of an offer Serious objective intent by offeror Terms reasonable definite and certain Offer communicated to offeree No: Want to buy my car? My car is for sale
I want to sell my 2000 BMW for $40,000 Acceptance Voluntary act that expresses assent or agreement to terms of offer Unequivocal or absolute Communicated to the offeror No: Maybe Okay but only if Yes if you increase the the price by
Did the Offer Survive to be Accepted? Offer Terminated? Revocation? Rejection? Offer Acceptance Counteroffer? Operation of Law?
Was offer non-revocable? Revocation of Offers Direct repudiation Behavior conforming to repudiation Generally, revocation must be received by offeror or offerors agent. Irrevocable offers Firm Offers Option contract
Termination by Rejection Words or acts that convey no Termination by Counteroffer A rejection with a new offer Watch out for inquiries: Would you accept $50? Mirror-image rule (common law) Termination by Operation of
Law Lapse of time Destruction of Subject matter Death or incompetence of offeror Illegality of proposed contract
Central Middle School Device Training for Parent and Students Chromebook Login Students need to login using their rusdlearns.net account. Students login using their first and last name and the last 3 of their student number (check the Aeries sticker to...
Using Scientific Measurements 2.3 ... Calculators exaggerate precision Sig. Fig Examples How many sig figs are in… 203000 1000.00 0.00052 0.06400 79.810 Significant Figures Multiplication and division sig. digs = answer has no more figs. than the msmt. with the...
Reality of Consent and Writing ... A mistake made by both parties concerning a material fact that is important to the subject matter of the contract In Raffles v. Wichelhaus, the court held that a mutual mistake of fact excused...
Fiji High Commission - Canberra, Australia. iii. Monitoring and patrolling of our EEZ / Policing the Pillage of Fisheries resources from our EEZ. Fiji has an exclusive economic zone (EEZ) of about 1,290,000 km2, while having a land area of...
World Cultures Mid-Term Review. Geography. What does interdependence mean? ... Define direct democracy. ... Most were monotheistic. Why was there a demand for slaves in Europe? Growth of plantation economy in the Americas.
Radiologic technologist administers radio opaque dyeRadiological Technologist who have had additional training can administer radio-opaque dye into the patient's prior to specialized imaging scans.. Gallbladder disease can be seen on a cholangiogram. Radio-opaque dye is used to enhance the x-ray.
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