LAW 142 Lecture Notes - Lecture 8: Quid Pro Quo
Document Summary
Law 201 introduction to canadian law; nov. 1, 2016. Basic subjects of the common law curriculum. Three branches of private law: tort, property, contract. A contract simply is an agreement that the law will enforce. Contract is a facility that the law makes available to you if you want it. Extravagant claim that no reasonable person would take literally: court said it was not puffery on carbolic"s part because they said they had put the money in the bank. If ads were offers, it would limit creativity. When stocks run out, you can"t keep up the offer. In the civil law jurisdiction, contracts needn"t be in the form of a bargain. When you sign a contract, it usually says what the consideration from each party is. Just because somebody makes an agreement, doesn"t mean there"s consideration. Because a peppercorn has market value, you can trade it for anything if there is consideration.
