Chapter 7.docx - Chapter 7 Offer and Acceptance Tickets Fall under the category of contract onerous contract is one where dont have the sample degree of

Chapter 7.docx - Chapter 7 Offer and Acceptance Tickets...

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Chapter 7: Offer and Acceptance Tickets Fall under the category of contract onerous contract is one where dont have the sample degree of negotiation as with other contract More of a strict approach, the power relation is different Standard form contracts are In favor of the favor of the offeror Commercial reality that people do not usually read terms before acceptance Offeror wants terms to apply Liability protection Onerous term, there is a special requirement to draw attention of offeree (highlight text, bold text) If there are any ambiguity constructed against offeror Person had opportunity to bring light to these term If there is no special attention than it is not enforceable The more onerous the term the more lengths they need to go to bring to the other parties attention Standard form contracts The same applies to standard form contracts All terms on back of invoice you probably dont read but have no ability to negotiate Commercial reality is that it happens Onerous terms have to be bold or enlarged Insurance contracts special case Particular inequality between parties The terms of the contract highly regulated The government governs what can be include or not must be contracted by statue because of the power imbalance, simply to legislation how they are written Commercial contracts are supposed to be voluntary agreements but the courts have to do something because in reality some people will not read the whole thing o Saying you did not read the contract is not a valid defense (CHECK RECORDING) Gratitious promise is basically gift Past consideration does not count as good consideration
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Example: The accountant agrees to complete taxes by april 30th and it is april 21st. Consideration must flow both ways exceptions - promissory estoppel Estopped - you are prevented from raising the legal argument here Making a promise, we already have an agreement, I say we can fergo what already in the agreement, the second party relies on what I have to say o I should be estopped from going back and saying it was a gratitious promise ie no consideration It is a exception for fairness The court will use this rule to prevent the person who made the promise from going back on their promise E.g. I borrow some money interest free from you due jan 1st next year, you tell me that I
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  • Fall '13
  • Mallney

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