Management and Organizational Studies 2275A/B Lecture Notes - Lecture 2: Reasonable Time, E-Commerce, The Pall Mall Gazette

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

The purpose of this chapter is to introduce the essential building blocks of a contract: offer, acceptance, consideration, and intention to create legal relations. As such, the chapter is formalist and technical at times, but unavoidably so. Understand how negotiations lead to a contractual relationship. Understand how contracts can be amended or changed. The business law in practice scenario has been classroom-tested to provide a helpful context for analysing contractual constituents. The first two paragraphs of the business law in practice narrative, along with the first two questions, provide a solid foundation for the first lecture. Customer agrees to a standard set of terms that favours the other side. The law expects people to take care of themselves. Critical to read and understand the contract before signing it. Offeror the person who makes an offer. Offeree the person to whom an offer is made.