COMM 315 Study Guide - Natural Person, Browse Wrap, Lesion
Document Summary
At the time the obligation is created, performed or extinguished (provide all information at all times) Without abuse, intent to injure; in excessive/unreasonable manner, transparency. Meeting of the minds between two or more individuals. Occurs when a party issues an offer and the offer is accepted. Not to do something i. e. not to build, non competition. Adhesion: no negotiation of the content of contract. Ambiguity situation: person who wrote it is penalized. Synallagmatic: both parties agree to perform an obligation (payment and delivery) Unilateral: only one party has an obligation. Commutative: the details of the contract are immediately known by both parties. Aleatory: the extent of the obligation is not yet known. Merchant: person selling in normal course of business. Consumer: natural person not a corporation, purchases for personal needs, excludes business purchases. Between persons having the legal capacity to contract. Minors and persons under protective supervision cannot enter into contracts. Married persons may need consent of spouse.
