Law 2101 Chapter Notes -Life Insurance, Secured Creditor, Resource-Based Economy
7 Apr 2014
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Contract has 2 functions: facilitate exchange and separate legal from moral. Its judge made law because thats the way its always been done and its practical because human conduct is always changing. Special contracts: sale of goods act, consumer protection act very narrow areas. Protects from liability for unrequested goods and services. - don"t have to pay for unwanted gifts (charity gifts in the mail) 3 things you have to prove to sue someone. Consideration- you paid for that promise to be binding. Intention to create legal relations- each party had an intention to create legal intentions. Offeree/promisee: the one to whom the offer is made. Sm waddam, intro to the study of law. Law of contracts is concerned with expectations induced by the conduct of others. The expectations are induced by promises and agreements. The chief criterion of enforceability has been the bargain, an agreed exchange.
