BU231 Lecture Notes - Lecture 6: W. M. Keck Observatory
Document Summary
Its prepared ahead of time to benefit the business; employees, suppliers, etc. are not taken into consideration. Voluntary unlike any other laws (tort, criminal, etc. ) The cause of action that is used to force someone to live up to their promises or pay the price. Mutual value exchanged if there"s nothing in it for you then its not a contract, thus the law cannot enforce if someone backs out. Elements of the breach of contract cause of action. The contract remains a term or clause that requires the other party to fulfill (perform) an obligation. Other party did not do what was required by contract- if even just one term wasn"t followed you can sue the other party for breach of contract. Offer; can"t be vague, has to have enough details. Acceptance; saying yes (nodding, shaking hands, etc. ) Consideration; the amount that flows between the two parties, what each side is receiving; the value of it.
