BU231 Chapter Notes - Chapter 6: Standard Form Contract, Consumer Protection, Preventive Healthcare
Document Summary
Contracts are a good example of voluntary relationships. Contracts are not legal obligations forced upon everyone like tort or criminal liability. Parties choose to make a contract and only then become legally obligated to comply with its terms. Contract law empowers parties to create legal obligations that would otherwise not exist. Sometimes inequality of bargaining power or expertise between parties results in unfair contracts, contract law has rules to address these situations. Contract a set of promises that the law will enforce. 4 basic requirements to forma a legally enforceable contract: offer, acceptance, consideration and intention. Offer a description of the promise one party is willing to make subject to the agreement of the other party. Offeree person to whom the offer is made. Advertisements to sell goods at certain prices are generally mere invitations to the public to visit the place of business. These types of advertisements are more of an exception rather than a rule.
