LS283 Chapter Notes - Chapter 7-10: Syllogism, Condition Subsequent, Equitable Remedy

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kpalison39

11 Dec 2022

School

University of Waterloo

Department

Legal Studies

Course

LS283

Professor

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Document Summary

Chapter 7: the terms of a contract: the content of a contract, terms: the terms of a contract simply refer to promises made by one party to another by virtue of offer and acceptance, express terms: A provision of a contract that states a promise explicitly. Parties negotiating a contract should be very careful not to make assumptions about any aspect of the transactions, as only terms, not assumptions, have legal weight. How a court will interpret any given contract depends on rules of construction: guiding principles for interpreting or constructing the terms of a contract: implied terms: A provision that is not expressly included in a contract but that is necessary to give effect to the parties" attention. When an event arises that is not addressed in the contract through express terms, courts may be asked to imply a term.

Related Questions

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

Complete the following questions about future and option contracts.

a. Give an example of a future contract. Make sure you include all necessary terms of a future contract in your example.

b. Give an example of an option contract. Make sure you include all necessary terms of an option contract in your example. Is your example a put option or a call option?

c.Compare the rights and obligations of buyers and sellers of futures contracts with the rights of buyers and sellers of options contracts.

champagnebutterfly550

If an offeree's acceptance of an offer to sell goods also proposesa new term:
a. the new term rejects the offer, and the offeree's propsal is acounteroffer.
b. a contract arises which includes the new term.
c. a contract arisies on the terms of the original offer, and thenew term is ignored.
d. a contract arises on the terms of the orginal offer, and the newterm is a counteroffer.

Please do not guess

redfox522

LS283 Chapter Notes - Chapter 7-10: Syllogism, Condition Subsequent, Equitable Remedy

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