LAW 122 Lecture Notes - Lecture 7: Contract
28 Jan 2016
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Meeting of the minds ( offer and acceptance) Generally, does not have to be in writing. Objective test: what would a reasonable person believe at time when contract. General rule: there is a presumption: of intent in commercial dealings, against intent in social and family context. Agreement over the details of a mutual decision to enter into a legal relationship between two parties: offer of terms first party, acceptance of terms second party. Offer is the expression on the basis of specific terms of the intention to enter into a contract (a legally binding agreement) In a written doc, verbal statement, through conduct. Offering a contract is a business risk: if the other party accepts then there will be obligations. An invitation to treat is a willingness to received offers from others, to do business with others. The person responding to the invitation will make the actual offer. The original person may then accept the offer.
