26100 Final: Final Exam Contracts Notes – Intergrated Business Perspectives
Document Summary
Contract definition: promise or set of promises, which the law will enforce. Legally binding and enforceable agreement between two or more parties. Contractual dispute: formation of contract, terms & conditions/performance of the contract. No they don"t (cid:0) their can be oral agreements that can be legally binding. However, only people that know of these contracts are the people who spoke them. Just because you make an agreement doesn"t mean you have intention. If you have a written contract you have a clause i intend to be bound by this contract. Rebuttable presumption (cid:0) you can argue that this presumption cannot apply in court: agreement. Someone needs to make a valid offer which is accepted. Both parties have a meeting of the mind. Offer (cid:0) communicated and made directly to a person/group of people. Puff (cid:0) no reasonable person would believe is true; unbelievable. Invitation to treat (cid:0) invitation to enter into negotiations.
