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York University (12,867)
ADMS 2610 (94)
Rudi Lof (11)
Chapter 7

ADMS 2610 Chapter 7: B.Law10th ppt notes Ch7
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Department
Administrative Studies
Course
ADMS 2610
Professor
Rudi Lof
Semester
Winter

Description
CH 7 Historical development ➢ Elements of a valid contract  Intention to create Legal Relationship  Offer ▪ Nature ▪ Communication of an offer ▪ Lapse and Revocation  Acceptance  Consideration  Capacity  Legality  Introduction  Contract ➢ An agreement made between two or more persons that is enforceable at law ➢ Freedom of contract, the general ability of the parties to create specific rights and duties  Historical Development  Merchant law  Ecclesiastic law  Manor courts  17 century development of the bargain theory of contract  Elements of a Valid Contract 1. An intention to create a legal relationship 2. Offer 3. Acceptance 4. Consideration 5. Capacity to contract 6. Legality  Requirements must be met for a contract to be enforceable by the Courts  Elements of a Valid Contract  Requirement of writing ➢ For certain contracts  Free of vitiating elements ➢ Mistake ➢ Misrepresentation ➢ Undue influence ➢ Duress  Intention  Contract ➢ Meeting of the minds (consensual agreement) ➢ Consensus to subject and object of the contract ➢ Essential element is a promise ▪ Party intended to be bound by promise made ➢ Intention is a presumption at law  Presumptions  Presumptions in contract law ➢ Strangers intend to be bound by their promises ➢ Family members and close friends do not intend to be bound in contracts ➢ Both are presumptions that can be rebutted  Invitation to do Business ➢ Advertisements are not offers ➢ Invite offers that seller may accept or reject  Intention of the Parties  Offer  Nature of an Offer  A tentative promise subject to a condition  Communication of an Offer  An offer must be communicated to the other party to be accepted  Cannot accept an offer you do not know of  Crossed offers – in the mail do not constitute a contract  Only person to whom offer is made may accept it.  Acceptance  Acceptance ➢ A statement or act given in response to and in accordance with an offer ➢ Acceptance must be communicated in the manner requested or implied by the offeror in the offer ▪ By words or conduct  Acceptance (Specific Rules)  Rules ➢ Offeror is master of their offer and can dictate form of acceptance ➢ If acceptance is to be by oral means ▪ Acceptance complete by either phone or direct speaking to offeror  Postal Rule  Acceptance by post ➢ Acceptance takes place when the letter, properly addressed and postage paid, is placed in the postbox ➢ Acceptance effective where placed in the postbox ➢ Governing law, unless otherwise stated, is the law of the place where the letter is posted ➢ Postal acceptance allowed even if not specifically stated if it is the normal or usual mode of acceptance  Other Modes of Acceptance  All other modes ➢ Acceptance not complete until offeror made aware of acceptance ▪ Until it reaches offeror ▪ Acceptance complete when and where received  Electronic Offer and Acceptance  Electronic documents covered by Federal law Personal Information Privacy and Electronic Documents Act  E-documents are deemed to be sent when they enter a system outside of the sender’s control , or when they become capable of being retrieved and processed by the addressee  E-contractors can opt out of statutory provisions in their “terms of use”  Location of the transaction – determining where contract is located is more diffic
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