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56 Cards in this Set
- Front
- Back
Intention to create a legal contract |
This means two parties make a promise. |
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Intention to create a legal contract |
The parties must intend to accomplish the end result and keep their promises. |
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Presumption at law |
The courts examine if there was such an intention from the point of view of a reasonable person |
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Assumption |
By virtue of you entering into the contract, Onus is the party to prove otherwise |
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Assumption |
Unenforceable because it is a non-arm's length transaction, contract between family members, because family members promise things all the time |
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Assumption |
Advertising does not mean an offer. Advertising is only an invitation to do business |
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The offer |
Must be communicated before acceptance can take place |
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The offer |
You cannot accept an offer you do not know about |
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The offer |
The person who made the offer must be identified |
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The offer |
Only the person who was given an offer may accept the offer |
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The acceptance of the offer |
Must be made after the offer |
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The acceptance of the offer |
Must be communicated or conducted in the manner laid out in the offer |
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The acceptance of the offer |
Can be words of acceptance, or action-say you deliver the goods or product. |
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Timing of acceptance Spoken |
At that time |
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Timing of acceptance Written and mailed |
At the time of mailing |
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Timing of acceptance Electronic acceptance |
At the time of sending because receipt is almost instant |
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Bilateral Contracts |
No specific form of acceptance is stated in the offer, then the offer is only accepted when it is received by the offeror |
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Unilateral Contracts |
Where acceptance is shown be he offeree completing some work or his part of his agreement |
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Lapse of the offer |
Death of either party before accepting the offer |
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Lapse of the offer |
Either party goes bankrupt |
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Lapse of the offer |
The offeree rejects the offer; the same offer cannot be revived once off the table |
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Lapse of the offer |
The offeree makes a counter offer |
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Lapse of the offer |
Time of acceptance has passed |
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Lapse of the offer |
After a reasonable time if there is not a deadline for acceptance |
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Revocation of the offer |
The offer can be revoked by the offeror before acceptance |
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Revocation of the offer Directly |
The offeror withdraws the offer even if the offeror has stated he would keep the offer open for a specific period of time |
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Revocation of the offer Indirectly |
Third party |
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What is consideration? |
It is a payment; it is something of value |
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What is the purpose of consideration? |
To show that the promissory is serious about the contract |
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What is gratuitous promise? |
when the promisor does not get something in return for the promise contract |
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What is quantum merit? |
The court will decide on what the reasonable price is in the event where there is no consideration given, set, or agreed upon. |
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Who has the legal capacity to make a legal contract? |
Those 18 or older (by statute) and over 21 (by common law) |
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Who can't make a legal contract? |
Minors |
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Who can't make a legal contract? |
Drunks |
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Who can't make a legal contract? |
Bankrupt persons |
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3 criteria that the courts often consider when deciding if the contract is enforceable and binding |
Issue of whether or not the item purchased is a necessity or non-necessity |
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3 criteria that the courts often consider when deciding if the contract is enforceable and binding |
Issue is "what is in the best interest for those group above" |
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3 criteria that the courts often consider when deciding if the contract is enforceable and binding |
Issue of what is in the best interest of the public |
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Is a contract with a minor for necessities enforceable? |
Yes, unless there has been a fraud, misrepresentation, logic is contract for the betterment of the youth |
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Is a contract with a minor for non-necessities enforceable? |
No. It can be repudiated by the minor unless there has been misrepresentation or fraud. |
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Is a contract with a minor enforceable where there is a contract with a minor for non-necessities, and the product is damage? |
Yes if the product is damaged on purpose. No if the damage is normal wear and tear then the minor can get his money back |
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What happens to the contract when the minor turns 18? |
For non-necessities minor must announce shortly after they turn 18 to repudiate or cancel the contract? |
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Are business contracts with minors enforceable? |
No business is considered a non-necessity |
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Are contracts for service with minors enforceable? |
Only if the service is considered for the betterment of the minor |
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When is the parent liable for a minor's bills? |
Until the age of 16 |
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When is the parent liable for a minor's bills? |
For necessities they are liable |
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When is the parent liable for a minor's bills? |
For things the minor has bought with parents credit card and that are for the parent |
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When is the parent liable for a minor's bills? |
Things the minor has bought with parents credit card and its for them |
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Contracts with Drunks Are contracts for necessities enforceable? |
Yes provided price is reasonable |
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Contracts with Drunks Are contracts for non-necessities enforceable? |
No, they can have time to reject or ratify the new agreement after they recover, if they can prove they were drunk and if they can prove the other person knew they were drunk |
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Contracts with bankrupt individuals Are contracts for necessities enforceable? |
yes |
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Contracts with bankrupt individuals Are contracts for non-necessities enforceable? |
Only if the bankrupt person informed them they were bankrupt and if the purchase was over $500 |
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Contracts of illegal purpose |
Contracts to harm others or get others to do immoral activities |
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Contracts regarding embezzlement of funds |
You cannot promise to not report the other person for criminal activity if they promise to return all the money. |
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Illegal activity |
You cannot collect a wager through court |
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Unlicensed professionals |
Trades or doctors practicing without a licence contract are null and void. The plaintiff can collect for damages |