Jentz 11e-IM-Ch11 - Chapter11 Title BusLawSeal.eps Creator...

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Chapter 11 Agreement    See Separate Lecture Outline System I NTRODUCTION This chapter explains the nature of the agreement, which forms the basis of a contract.  Through a dis- cussion of offer and acceptance, the chapter helps students to begin to understand how promises become legally binding.  The text also contrasts non-offer situations.  Responses to the offer and which acts terminate it are de- fined and discussed. An offer must be made and it must be accepted.  The parties must manifest their assent to the same bargain.    Once agreement is reached, if the other elements of a contract are present (consideration, capacity, and legality—discussed in subsequent chapters), a valid contract is formed. An agreement does not necessarily have to be in writing, but a contract must contain reasonably defi- nite terms to be enforced.  What terms are required depends on the type of contract.  Generally, the following terms must be included, either expressed in the contract or capable of being reasonably inferred from it:  (1) the parties; (2) the object or subject matter, including work to be performed, with specific identification of goods, services, and land involved, and quantity when appropriate; (3) the consideration to be paid; and (4) the time of payment, delivery, or performance.  The law relating to terms and intent is equally important to both the offer and the acceptance, but for the sake of simplicity, it is discussed only in conjunction with the offer. 213
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214           INSTRUCTOR’S MANUAL TO ACCOMPANY  BUSINESS LAW,  ELEVENTH EDITION A DDITIONAL  R ESOURCES A UDIO  & V IDEO  S UPPLEMENTS The following  audio and video supplements  relate to topics discussed in this chapter— PowerPoint Slides To highlight some of this chapter’s key points, you might use the Lecture Review PowerPoint slides compiled for Chapter 11. Drama of the Law II After you have covered the text of Chapter 11, Video No. 2 (entitled “Offer and Acceptance”) of this series could be shown to prompt a review discussion of the requirements of a valid offer and acceptance. Set in the parking lot of a supermarket and focusing on the sale of a used car, this video will help students apply the concepts of offer and acceptance to the everyday world in which they live.  See the Instructor’s Manual   for  The Drama of the Law,   pages 9-14 (Script) and pages 15-18 (Teaching Points of Law).
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  • Fall '09
  • Gough
  • Business Law, ........., Proposed Contract

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