LAW 122 Lecture Notes - Lecture 6: Meeting Of The Minds, Contract, Objective Test

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Against intent for social and family context. Contract requires a meeting of the minds (consensus ad idem) One party proposes terms through an offer. The other part accepts offer through acceptance. Meeting of the minds requires an offer that is accepted. Court will not consider adequacy (i. e. will not review bad business decisions) An offer is the willingness to act on certain terms. Offeror the person making the offer. Offeree the person accepting the offer. Offeror is the master of the offer they can set almost any terms that they desire. Requirement of communication offer must be communicated (i. e. offer contained in undelivered letter is ineffective) Offer must be communicated as offer (i. e. offer received as typing assignment ineffective) Written document (signed acceptance house) Oral statement (offer your order in a restaurant) Conduct (sit silently in a barbers chair) Offers and risk management (contract created as soon as offer is accepted) (mechanism used to reduce risk of liability)

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