LAW 122 Chapter Notes - Chapter 9: Contra Proferentem, Collateral Contract, Car Rental

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Eric Libman

Document Summary

Statements made during negotiations (pre-contract: puffs; mere sales words - no consequences, pre-contractual representation: is a statement one party makes by words of conduct with the intention of inducing another party to enter into contract. Restitution: involves a giving back and taking back on both sides. Implied terms: an implied term arises by operation of law. Right to reasonable notice from employer: statutory law (implied by statute, treated as if expressly included by parties, some implied terms are mandatory while others are merely default terms that the parties may expressly modify. Statement made during negotiations becomes enforceable obligation within contract: promise of future performance, actionable breach if not fulfilled. Standard form agreement terms = mass produced documents (take ir ot leave it) Car rental: valid means of reducing transaction costs, no need to negotiate new contract every time terms refined by years of judicial interpretation, potential for abuse, written by economically dominant party few customers actually read them.