LGLS 1901 Lecture Notes - Lecture 3: Pepperoni
6 Mar 2017
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A contract is based on promises voluntarily made. Does a contract have to be in writing. No, most aren"t but its harder to prove and turns into credability. Ex: reward, you lost your dog and you say i lost my dog i need help, ill pay you 5000 dollars if you find my dog. Ex: art agrees to paint a house and bob agrees to pay ,000. Expressed contract - contract stated in direct terms, Ex: i will sell you my sports car for ,000. Implied contract - a contract that arises by implication of law. Binds one party but gives the other option to withdraw. A child buys a video game, but the person is under 18. Tell a person to steal an exam from hodge and pay him 200 dollars but he never does it. Satisfies elements of a valid contract but won"t be enforced by court.
