Management and Organizational Studies 2275A/B Lecture Notes - Lecture 4: Employment Contract, Unconscionability, Threeweeks

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Void contract: do not exist. has no legal significance. If there is no consensus, then the contract is void. If there is no consideration and the acceptance of the consideration, it is not a contract at all, also void. if there is no intention, void. Voidable contract: existed contract, but can be avoided by one of the parties. Valid but unenforceable contract: exist, but cannot be enforceable (statute of frauds) some contracts are force by the statute of frauds to be in a writing in order to be enforceable. If not in writing, it is unenforceable and cannot be enforced in court. You and i have a contract of selling a land, which is not in writing but in verbal. Three weeks before we suppose to complete the deal, i changed my mind and i don"t want to buy it. In this circumstance, there is almost no difference b/t void.