BUS 393 Study Guide - Midterm Guide: Punitive Damages, Product Liability, Liability Insurance

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Co(cid:374)tra(cid:272)t: case stud(cid:455): let"s (cid:373)ake a deal. Both parties must get some benefits from the deal: co(cid:374)side(cid:396)atio(cid:374) (cid:449)e (cid:271)oth get something in value and it must be (cid:862)(cid:374)e(cid:449)(cid:863, e. g. There are however people who are considered incapable of negotiating a contract. fo(cid:396) e(cid:454)a(cid:373)ple age (cid:272)o(cid:374)t(cid:396)a(cid:272)t (cid:373)a(cid:455) (cid:374)ot (cid:271)i(cid:374)di(cid:374)g u(cid:374)de(cid:396)age i(cid:374)di(cid:448)iduals u(cid:374)less that individual agrees to the contract: legality. (cid:395)ualit(cid:455) of (cid:272)ou(cid:396)ses o(cid:396) i(cid:374)st(cid:396)u(cid:272)tio(cid:374) (cid:374)ot ade(cid:395)uate. I am obliged to pay the : past (cid:272)o(cid:374)side(cid:396)atio(cid:374) is (cid:374)ot (cid:272)o(cid:374)side(cid:396)atio(cid:374)! Fathe(cid:396) i(cid:374) la(cid:449) (cid:272)ase: capacity, as a rule the courts do (cid:374)ot i(cid:374)terfere (cid:449)ith the parties" freedo(cid:373) of co(cid:374)tract. There are however people who are considered incapable of negotiating a contract. It i(cid:374)clude eco(cid:374)o(cid:373)ic ad(cid:448)a(cid:374)tages e. g. high rate of i(cid:374)terest of the pa(cid:396)t is u(cid:374)e(cid:395)ual e(cid:448)e(cid:374) it is legal: re(cid:373)edies fo(cid:396) all: t(cid:455)pi(cid:272)all(cid:455) (cid:448)oida(cid:271)le (cid:272)o(cid:374)t(cid:396)a(cid:272)t (cid:448)i(cid:272)ti(cid:373)s de(cid:272)ides ho(cid:449) to p(cid:396)o(cid:272)eed. The company order a special wheels for you again: breach of contract: #8 if someone does not follow the contract.

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