BUSI 2601 Lecture Notes - Lecture 8: Shawarma, Age Disparity In Sexual Relationships, Easement
22 Mar 2016
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Document Summary
Unqualiied willingness to enter into a contract (verbal) Postal system: individual is paid (postmark on leter) Electronic system: contact by email, fax or telefax (oferor has to conirm receipt of acceptance) Carlyle vs carbolic (expectance by consent, producer bound by ad) Consideraion: price we pay for execuion of promise (fair/reasonable), have to be able to negoiate fair terms. Gratuitous promise : unilateral, no consideraion (graduate check to paint room) Expressed (stated explicitly terms of promise: rules of construcion (how to create relaionship) 2: terms of agreement (more deined, narrower) Implicit (provisions not expressly included in the contract but needed to give power to the paries: business eicacy (cpa, part of trade/customs, past pracices, statutory requirement (law provides for it) Glenko vs. keller: interest rate not stated on invoice (<60% not a crime, 5% if not stated) Parole (verbal or writen): can use a third party to interpret a contract unless for correcions. Condiions of sequence: event/circumstance brings end to contract.
