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298 final review notes.odt

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Concordia University
MANA 298

First power point What is a contractContract is an agreement between people to do stuffA contract is an agreement of wills section 1378A contract must be done in good faith 1375Mutual agreement v Adhesion1379CCQ1Contracts of Adhesion art 1379 no arguing for the terms ex hydro quebecit is also a synallagmatic contract no choice you have to accept their rates2Contracts by Mutual Agreementnegotiation takes place art 1379 par2 Bilateral v unilateral 1380CCQ3Synallagmatic bi lateral Contracts art 1380 both sides agree to do something one side gives money the other side performs service4Unilateral Contracts art 1380 par 2 one person obligates himselfno other obligation necessary Onerous v gratuitous 1381CCQOnerous contract each party obtains an advantage Gratuitouswhen one party obligates himself to another party with outgaining an advantage Commutative v aleatory 1382CCQCommutative the outcome of the contract is certainAleatory the outcome of the contract is uncertain Instantaneous v successive performance 1383 CCQContracts of successive performance continuous ongoing exchange snow plowing art 1383 par2Successive contract its a contract where the obligation needs to be performed many timesConsumer contract 1384CCQConsumer contracts art 1384 A person buying from a business for his own consumptionConsensual v solemn 1385CCQ A consensual contract is a contract that is formed by the sole exchangeof consents between persons having the capacity to make the contract Solemn that two people shall enter into any contract which they want and that the resulting contract is enforceable if formalities are observedFormalism1385 ccq states A contract is formed by the sole exchange of consents between persons having a capacity to contract Unless the law requires a particular form to be respected as a nessecary condition of its formation1385 All contracts need Consent between parties Any contract must have following things to be validCconsentCwith Capacity to contractCand Cause Absolute Nullity if one of these absent as if contract never existedOand ObjectImpossible to ratifyFand Form if necessaryThings that can affect your consentError eg the seller thinks he leased his property but the buyer thought he bought it If it is written selling in the contract then it is selling not leasingFraud a seller misrepresenting the facts to get the buyers consent If you are not an experiencedbusinessman and someone misrepresents facts to get your consent you can claim that your consent wasvitiated by misrepresentation But if you are experienced you should have been careful because you must have known that sellers would do thatFear when your consent was due to fearLesion when one party to the contract has a lot more power than the other and the stronger party uses his power to exhort exorbitant conditions Lesion is a cause to vitiate your consent except you are 18 years or over you cant use it OR contract is one of adhesion or consumer contract eg your son is sick and you need 250k for his operation You go to the bank and tell them your situation They lend you the money but they charge 40 annual interest They misuse your weak position and charge this excessive interest rate ie lesionFormalism to concludeformalism to modify1414CCQ1414 not always needed but when its needed its mandatoryeg three forms of wills 1Holograph only requires that the person making the will testator has to handwrite it hguhimself and sign itdoesnt need a witnessoertFormthat its writtenhat bo2English Form Will AKA Lawyers Willcan be typed three considerationsorg ptIMust declare to be the last will and testamentsuIITwo witnesses much watch you sign and sign will themselvesMIIIOne of two must sign an affidavit of execution saying he was there when it was signed3NotarialWillcreated by notary is an authentic deed does not require probateAnother form consumer contracts must be in writingAnother form mortgages must be in writingA valid mortgage has to before the notary Otherwise it is not validFormalismnot applied to promises to contract
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