BALW20150 Lecture Notes - Lecture 7: Tow Truck, Uniform Commercial Code
28 Feb 2017
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Document Summary
If we didn"t, commerce as a whole would suffer. Illegal agreements protects the sanctity of the legal court system. When there is a contingency that happenes. Every contract involves an agreement which necessarily includes at least two parties. Offeror the party who makes an offer to enter into a contract: makes an offer to the offeree. Offeree the party to whom an offer to enter into a contract is made: offeree has the power to accept the offer and create a contract. Four basic requirements must be met to be an enforceable contract: Contractual capacity: the parties to a contract must have contractual capacity, certain parties, such as persons adjudged to be insane, do not have contractual capacity. Lawful object: the object of the contract must be lawful, contracts to accomplish illegal objects or contracts that are against public policy are void.
