BLAW 3201 Chapter : Chapter 10
Document Summary
Promise a person"s manifestation of an intent to act or refrain from acting in a specified way. Function of contract law: deals with the formation and agreements between parties, provides stability and predictability for commerce, ensures commerce is regular and determinable. Informal contracts: all other contracts; also called simple contracts, the majority of contracts are informal, express contracts, the terms of the agreement are fully and explicitly stated in words; can be either written or oral, established by words. The party who is under duress has the option of voiding the contract later if they want to: void contract, no contract at all, lacks legality; produces no legal obligations on any of the parties. If the plaintiff alleged and proved acceptance of services and the value of those services, they were entitled to go to the jury on quantum meruit. Limitations on quasi-contractual remedies: when an actual contract exists, the courts will not use this type of remedy.
