LING 201 Lecture 3: Contracts
16 Feb 2017
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Mutually enforceable agreement between 2+ parties, meaning court will help if other party fails to deliver. For contract to be enforceable you must have satisfied the court that the elements in contract(k) exist. If the offer does bankrupt or goes insane. If making an offer by mail, state that acceptance must be directly in person. If making an offer by mail, state that acceptance must be directly in person or by phone why quantities last. Each party in contract must get something of value to bind the contract. Contract under seal requires no other consideration, does not ***** if you pay too much/too little. Past consideration: if you do something for something, they are not legally obligated to do the same for you in the future unless you agree at the time to be obligated. Quantum meruit (amount earned): if you consume a good or service without knowing the price, the court can order "fair market value" to be paid.
