LAW 122 Lecture Notes - Lecture 7: Objective Test, Contract, Posting Rule
1 Dec 2017
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A contract is an agreement that the law will enforce. Example of agreement that the law will not enforce: to meet and go out with your friends. Meeting of the minds (offer and acceptance) Generally does not have to be in writing or any particular form. Parties must intend to create an agreement that the law will enforce. Objective test: what would a reasonable person believe- at the when agreement was formed-about the intent. That there is intent in commercial dealings. That there is no intent in social and family contract. Agreement over the detail of a mutual decision to enter into a legal relationship between two parties. Offer of terms- first party- called offeror. Offeree- acceptance of terms - second party. An offer is the expression on the basis of specific terms of the intention to enter into a legally binding agreement.
