Philosophy 2080 Lecture 9: Lecture 1
17 Feb 2016
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Legally enforceable agreement between 2 or more. Parties (anyone involved in the contract) do their best to create their own legal rights and obligations, parties have to participate in creation. Written or verbal: ex: giving evidence in court, don"t have to be in writing to be enforceable. Intention to create legal relations, make an ofer, have an acceptance of that ofer, consideration (thing of value that"s subject matter of contract ex: paying for service, money and service both have value) Consensus at idem meeting of the minds, people need to understand that they"re agreeing to something that will have legal consequences and understand nature of what they"ve agreed to. Fully supports freedom of contract and agency you can agree to whatever you want to. Not all parties have equal bargaining power (ex: landlord and tenant) Need capacity to contract (not a minor, mental illnesses, intoxicated), person that you"re contracting with also has to know about your capacity/lack of capacity.
