LAW 122 Lecture 7: LAW122 Week 7 Ch7&8
1 Dec 2016
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Chapter 7 the nature and creation of contracts. Contract: an agreement that contains legally enforceable rights and obligations. Does not need to be in writing to be legally enforceable. Essential element of a contract: intention to create legal relations, meetings of the minds (offer and acceptance, exchange of value (consideration, intention to create legal relations (reasonable persons test) Rule: parties must intend to create legal relations. Families/ social: presume that there is no intent. Both presumptions are rebuttable. (can be refuted/ proved wrong) After a while the guy giving the tickets to corporate guy wants to keep them. Court ruled: if you truly intended to ha(cid:448)e a (cid:272)o(cid:374)t(cid:396)a(cid:272)t it should"(cid:448)e (cid:271)ee(cid:374) (cid:449)(cid:396)itte(cid:374) do(cid:449)(cid:374) Court thought it was a social relation. Also if it was a contract it would be annually renewed therefore not a perpetuity and not 100% year after year.
