Contracts Notes 1.pdf - Notes December 4 2017 Subject...

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Notes: December 4, 2017 Subject: Contracts Quantum meirut as much as is deserved; if somebody provides goods or services, he or she must be paid accordingly p. 13 examples of contracts governed by statutes Sale of goods act Divorce Act Consumer Protection Act Marriage Act Acceptance has to be clear, unconditional, and unequivocal. Consumer Protection Act any product over $50; allows for a 10-day cooling off period; 10 days from the point of sale; 10 days to rescind; period of time to get out of the contract. From the date of rescission, the company has 15 days to return/refund money. Written contract terms are clearly laid out; more protection for the parties Statutes overshadow contracts. Carlill v Carbolic Smoke Ball Co. advertising puffery 20 days for water heaters to rescind What is the postal acceptance rule? Acceptance is valid the moment you put the mail in the mailbox. What if the letter gets lost? Is the acceptance still valid? If so, why? Yes. The contract is formed and is considered valid because the offeree had done everything required up to that point to comply with the terms of the offer.
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