Law 2101 Final: Law 2101 – Contract Law Exam Review Package

• School: Western University
• Department: Law
• Course: Law 2101
• Professor: Mysty Sybil Clapton

Document Summary

Concerned with expectations induced by the conducts of others. Vast majority of decisions are judge made (precedent) Only special contracts follow legislation: ex: sale of goods act, consumer protection act, domestic contracts (family law) Consideration: bargain for exchange of value. An expression by one party of his assent to certain definitive terms, which looks forward to acceptance by the other to the exact same terms. Offeror = the one making the offer. Offeree = the one to whom the offer is made. An invitation to treat is a statement that is designed to elicit an offer from the party to whom it is addressed. Before an offer can be binding on either party, the offer must be accepted by the offeree. In this case, the acceptance is not bound unless made in this way: made with knowledge of offer (motive is irrelevant, made in response to offer (timing)