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York University (35,141)
ADMS 2610 (430)
Sam Ling (23)

Lecture 2 - The Law of Contract [Chapter 7 - An Introduction to the Legal Relationship]

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Administrative Studies
ADMS 2610
Sam Ling

Lecture 2The Law of Contract ADMS 2610Ling Part 3Chapter 7An Introduction to the Legal RelationshipOverviewHistorical development Elements of a valid contracto Intention to create legal relationshipo Offer Nature Communication of an offer Lapse and revocation o Acceptanceo Consideration o Capacityo LegalityIntroductionContract o An agreement made between two or more persons that is enforceable at law o Freedom of contract the general ability of the parties to create specific rights and dutiesHistorical DevelopmentMerchant law Ecclesiastic law Manor courtsth 17 century development of the bargain theory of contractElements of a Valid ContractAn intention to create a legal relationship OfferAcceptanceConsiderationCapacity to contract Legality Requirements must be met for a contract to be enforceable by the courtsRequirement of writing
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