LE 101 Lecture Notes - Lecture 19: Undue Influence, Melvins, Contract
15 Nov 2016
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Bilateral -promise for a promise- i will rake leaves you will pay me. Unilateral - promise for an act- wake up to rake leafs. Implied- without verbal confirmation- buying a yogurt at the caf . Voidable- one party of the contract can withdraw. Has to be a mutual agreement- meeting of the minds between the offer and acceptance. Parties subject matter time of performance- time is of the essence , price. Can be terminated by time, destruction of the subject matter, the offeror can change mind or if offeror is incompetent. Option contract- the offeree gives a consideration too offer cannot be terminated. Counteroffer- when the acceptance does not mirror the offer. Argument- an expression of agreement by the offeree to be bound by the offer. Melvins- added other agreements like sell as is, limited mineral rights, and an increase of price to ,00.
