MGSC30H3 Chapter 7: Chapter 7 Notes
Document Summary
Chapter 7 an introduction to the legal relationship notes. The nature of an offer y y y. The law of contract, unlike many other laws, does not set out the rights and duties of the parties. Instead, it permits the parties to establish their own rights and duties by following a series of principles and rules for the formation of a contract. A contract is essentially an agreement that is enforceable at law. As such, it must contain all of the elements of a true agreement. It must, first of all, be a meeting of the minds of the parties , and an intention on the part of both parties to create a legal relationship must be present. There must also be an offer of a promise by one party subject to some condition, and the offer must be properly accepted by the other party.
