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Lecture 11

LAW142 Lecture 11: LAW 201 W11


Department
Law
Course Code
LAW 142
Professor
Rebecca Slitt
Lecture
11

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LAW 201 W11 (missed W10)
Tuesday, November 24th 2015
Contract Law
Ingredients of Contact Formation
What it takes to create or form a contract (necessary elements)
oOffer & Acceptance
Technical words for an agreement.
oIntention to create legal relations as oppose to moral or social
relations, if intend to go into gentlemen’s agreement, no intention to
create legal relationship.
oConsideration.
Has to be a bargain, the element of consideration is the thing of
value that is transferred from one person to another that
makes agreement a bargain, one party is getting something in
return for giving something up, in absent of this, not in a
contract.
How manifest – reasonable person – austenstive or manifested intentions tha
matter. What display to intent, rather than what actually intend.
Courts common law basis – boots vs. chemist. Courts England and Canada settled on
presumption that price with set price is not an offer, it is an invitation to treat.
Offer can be revoked at any time up to the point of acceptance. Did the seller did
revoke?
Difference between contract and tort – distinct
When bound by tort, due care of safety, can’t intentionally touch without
consent, can’t assault are applied to you wherher you want them or not,
duties that are top down, walk through world and always apply to them,
always watch out for safety of neighbour.
Contract are not top down, not imposed, taken on by yourself, voluntarily
assume them because yoyu want them. When make contract, actually
engaging in legal power, law is conferring on you a power to bind yourself in
law
Module 8
Part I)
Contract Law
What is law of contract for?
18th century Scottish Philosopher David Hume Scottish.
oLack of Trust renders the non-simultaneous exchange impossible
between strangers.
Without ability to make the exchange, a great deal of value is lost, neither
farmer able to harvest crop, together could of harvested both.
What can solve this problem:
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