BLAW 3201 Chapter : Chapter 9 Notes
Document Summary
If a 15-year-old makes a contract, they will give the minor a way out of the contract. If someone has severe dementia, the party lacks required capacity to enter into an agreement because there is no free will there: they don"t understand what they"re doing. Classification of contracts: express and implied contracts, express contract: an agreement that is stated in words, either orally or in writing, spoken orally or written down expressed their intent to be bound to a contract. Informal contracts: all contracts other than formal contracts: most contracts are informal; there is not a specific format that this contract needs to be written. Steinberg vs. chicago medical school: definition and requirements of a contract case, facts: The essentials of a contract are: mutual assent the parties to a contract must by show of words or conduct that they have agreed to enter into a contract. The usual method of mutual assent is by offer and acceptance.
