TRN305Y1 Lecture Notes - Lecture 19: Inequality Of Bargaining Power, Mirror Image, Contract

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ty74

12 Aug 2022

School

UTSG

Department

Trinity College Courses

Course

TRN305Y1

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Document Summary

Conclude discussion about theoretical approach to contract law. Elements of a contract offer, acceptance, consideration. Group 2 presentation of currie v misa. Answers opposing responses to how courts should deal with unfair contract, contract conducted btw unequal parties. What is the role/intervention of state/court how are they intending to address unfair agreements. 19th c, rose to prominence in early 20th c. Individuals assumed to be independent, informed, rational actors entitled to express own autonomy through contract law. Utopian ideal assumed a lot of things about individuals & individual cpaacities. Not always true, didn"t always reflect power relations in society. Not courts role to intervene as long as contract was done in correct way/no fraud, etc. Assumption that when individuals are free to enter into contract w/out state intervention. Individual will opt for arrangement most beneficial to them. Ex. uoft student trying to rent apartment vs landlord w/ multiple offers. Ex. can"t negotiate price of coffee at starbucks.

Related Questions

TRUE or FALSE

1.The UCC requires application of the "mirror image" rule in cases where contracts for the sale of goods are made by exchanging forms.

2.A contract generally comes into existence and becomes binding at the moment the parties have reached an agreement on all material provisions, although they may intend to later write down the terms of the agreement.

3.An acceptance must be in writing.

4.If an authorized means of acceptance is expressly present, any attempt by the offeror to accept by a non-authorized means is effective upon dispatch.

5.A bilateral contract is a promise for a promise.

6. If one or both parties to a form contract are non-merchants, the additional terms proposed by one of the parties are treated as:

	a.	revocation.
	b.	void.
	c.	expressly conditional.
	d.	proposals for addition to the contract.

7. Under the UCC Rule 2-207 for the sale of goods when a contract is made by the exchange of forms, when the acceptance form has terms additional to or different from the offer:

	a.	a contract can result but the differing terms may not be part of the contract.
	b.	no contract will result because the acceptance form will not be considered as a counter-offer.
	c.	a contract can result and the differing terms must be included as part of the contract.
	d.	no contract will result because the acceptance form will be considered as a counter-offer and thus an implicit rejection of the offer.

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5. Lindaâs truck breaks down, she asks Low-Tow, Inc., to tow it to Peteâs Repair Shop. There is no discussion of a price, and Linda and Low-Tow do not sign any documents. Later, Low-Tow sends Linda a bill. With respect to Lindaâs obligation to pay the bill, this is a. an express contract. b. an implied contract. c. no contract. d. a quasi contract.

6. Leo signs a lease agreement for an apartment with Jamo, who owns and manages the Bear Creek Apartments complex. These parties have a. an express contract. b. an implied contract. c. a quasi contract. d. no contract.

7. Fran drives into Leoâs Auto Service and asks Hank, a Leoâs employee, to replace a tire on Franâs car. After Hank replaces the tire, but before Fran pays for it, any contract between Fran and Leoâs is a. executed. b. executory. c. void. d. unenforceable.

Describe an example of a contract that you or someone you know entered into (for example, rental agreement, cell phone agreement, property purchase or leaseï¿½car, home, furniture, etc.; home or car repair, student loan agreement). In your description, be sure to provide specific contractual details including parties and subject matter involved. You must also address the following:

Describe the five essential elements of an enforceable contract, and give an example of each element from the selected contract.

Explain whether or not the contract was fulfilled. If not, discuss at least one available breach remedy.

TRN305Y1 Lecture Notes - Lecture 19: Inequality Of Bargaining Power, Mirror Image, Contract

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