LS101 Lecture Notes - Contract, Oral Contract, Subornation Of Perjury

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amaranthwolf110

16 Oct 2011

School

University of Waterloo

Department

Legal Studies

Course

LS101

Professor

Frances Chapman

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Document Summary

Protect our property, prevent fraud, and ensure that people live up to the deals they make. Individuals should be given a freedom of choice: but they must follow guidelines. Contracts come in different forms: such as an oral or physical contract, such as a nod or handshake, Comes down to case law, what happens in other cases. Can be with exchange of goods and services. People voluntarily enter into contracts rather than have rules imposed on them: different than torts. If there"s a problem with the contract, then it goes before the court system. An offer by one party that was unequivocally accepted by the other. Courts aren"t concerned about the fairness of the contract. Not the role of the courts to determine the fairness or appropriateness of the bargain struck. Court is there to enforce the clear intentions of the parties. Courts reluctant to interfere with contracts, however unless it was unfair or unconscionable: consumer protection issues.

Related Questions

The Uniform Commercial Code governs sales contracts. Other contracts are governed primarily by contract common law. Identify a situation where the UCC differs from contract common law. Why do you think that difference exists?

TRUE or FALSE

1.The UCC requires application of the "mirror image" rule in cases where contracts for the sale of goods are made by exchanging forms.

2.A contract generally comes into existence and becomes binding at the moment the parties have reached an agreement on all material provisions, although they may intend to later write down the terms of the agreement.

3.An acceptance must be in writing.

4.If an authorized means of acceptance is expressly present, any attempt by the offeror to accept by a non-authorized means is effective upon dispatch.

5.A bilateral contract is a promise for a promise.

6. If one or both parties to a form contract are non-merchants, the additional terms proposed by one of the parties are treated as:

	a.	revocation.
	b.	void.
	c.	expressly conditional.
	d.	proposals for addition to the contract.

7. Under the UCC Rule 2-207 for the sale of goods when a contract is made by the exchange of forms, when the acceptance form has terms additional to or different from the offer:

	a.	a contract can result but the differing terms may not be part of the contract.
	b.	no contract will result because the acceptance form will not be considered as a counter-offer.
	c.	a contract can result and the differing terms must be included as part of the contract.
	d.	no contract will result because the acceptance form will be considered as a counter-offer and thus an implicit rejection of the offer.

erineagle120

The measure of damages in action brought for the breach of acontract for the sale of goods

a.will be liquidated damages.

b.will be the difference between the contract price and themarket price.

c.will depend on what the parties to the contract have agreedupon.

d.cannot be determined by arbitration.

scarletbear377

LS101 Lecture Notes - Contract, Oral Contract, Subornation Of Perjury

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