LAW 3220 Lecture Notes - Lecture 2: Anticipatory Repudiation, Meeting Of The Minds, Quasi-Contract
Document Summary
The elements of contracts (mutual assent, capacity to contract, consideration, legal purpose) Apply the seven categories of contracts and be able to describe individual contracts in seven ways. (written, oral, unilateral, bilateral, express, implied, quasi contract, valid, void, voidable, unenforceable, entire, divisible, formal, informal, executed, executory) Apply the correct source of law to individual contracts. Cases: lucy v zehmer, leonaard v pepsico, raffles v wichelhaus. Explain the concept of mutual assent by defining the legal requirement of agreement. Explain the concept of enforceability and genuine assent. Articulate the legal requirement of consideration and identify which contracts do not require consideration. Categorize what contracts must be in writing to be enforceable and explain the minimum required terms that satisfy the law. Assignment of rights, delegation of duties, and third party rights. Damages, what are they and when do you get them. Discharge by operation of law, discharge by mutual consent, anticipatory repudiation.
