Textbook Notes (363,149)
Canada (158,223)
LAW 122 (616)
Chapter 10

Chapter 10 - Contractual Defects (LAW 122)

2 Pages
Unlock Document

Ryerson University
Law and Business
LAW 122
Andre Serero

Incapacity to Contract -person cant enter into a contract unless they have the legal power to give consent -capacity is the legal power to give consent -groups who may have no capacity; minors, mentally disabled persons, intoxicated persons, corporations, associations, public authorizes Personal Incapacity Minors  PG. 227 - those who have not reached the age of majority  minors -age of majority  age at which a person is held fully accountable in law -the laws approach, shields minors from exploitation and the consequences of their own inexperience Mental Incapacity - READ PG. 228 Intoxication - agreement is voidable if two conditions are met ; -person must have been so drunk that they could not know or appreciate what they were doing -the other contractual party must have been alerted to the fact Associations -usually unincorporated business organizations including private clubs, religious societies - READ SLIDE NOTES Public Authorities - READ SLIDE NOTES Absence of Writing -certain types of contracts must be evidenced in writing -requirements were made by old piece of English legislation – Statue of Frauds Statue of Frauds - requires some contracts to be evidenced in writing as a way of reducing the risk of perjury or lying in legal proceedings -was intended to discourage people from falsely claiming the existence of oral contracts Types of Contracts that must be Evidenced in Writing -3 types of contracts; guarantees, contracts for the sale of an interest in land & contracts not to be performed with a year Guarantees -contractual promise by a third party, called a guarantor, to satisfy a debtors obligation if that debtor fails to do so  EX. PG 232 -guarantee can be distinguished from an indemnity  EX. PG 232 - is an unconditional promise to assume another’s debt completely  Indemnity Consumer Protection & Writing Requirements -some consumer protection laws require certain types of agreements to be made in writing to protect consumers interests -these laws help prevent exploitation of consumers and prevent disputes about the terms of the contract General Principles -contracts require a meeting of the minds, which is a shared mutual agreement to enter into an enforceable transaction on a particular basis - READ PG. 235 OR READ SLIDES The Doctrine of Frustration  PG. 237 -contractual mistake takes place at or during contract formation, a frustrating event takes place sometime after the contract is already in place -frustration  a contract is frustrated when some eve
More Less

Related notes for LAW 122

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.