Law 2101 Chapter Notes - Chapter 5: Metropolitan Railway, Used Car, Commer
22 Apr 2018
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Contract consists of a promise, or a set of promises, given by one person in exchange for the promise, or a set of promises made by another person. Majority of contract law is judge made (case by case basis) Practicalities (cid:28708) impossible to write a contract code because (cid:28705)human conduct is infinitely variable, and no codifier can foresee every problem that will arise(cid:28706) Whereas the main area of contracts has been left to judges, highly specialized areas of law have had specialized rules created for them. Domestic contracts (cid:28708) family law act: contract formation: offer. An expression by one party of his assent to certain definitive terms, which looks forward to acceptance by the other party to the exact same terms. Offer creates a power of acceptance in offeree. Leads the offeree to reasonably believe that a power to create a contract is conferred upon him. Not invitations to treat or acts of mere preliminary negotiations.
