{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

CHAPTER 7 NOTES - Express Contract a contract that uses...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 7 Class Notes *Know terms of the contract Will Theory- Entering contract free of will Equal Value Theory - Unequal bargaining power Sales of Goods contract- Article 2 of the universal code Valid/ Void/ Voidable. **99% of contracts are Valid** Void Contracts- means No* Contract. In the Middle we have Voidable Contract…Getting out of a contract Bilateral Contract- a promise for a promise. “Ill give you my bike if you give me your skateboard” Unilateral Contract- Perfrom an Act to complete the contract. Do Not accept the contract
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Express Contract- a contract that uses Every single term on the Implied Contract- Eat food- then go to the register and pay. Custom in the industry is 2 pay after, “implied contract” Chapter 7 Book Notes The Contracting party who makes a promise is know as the Promisor. Who the promise is mad to is the promisee Party who is obligated to deliver on a promise or undertake some act of performance is called the obligor . The contracting part to whom this part owes an obligation is called the obligee ....
View Full Document

  • Spring '09
  • Kaplan
  • unequal bargaining power, contract Bilateral Contract, Implied Contract- Eat, Unilateral Contract- Perfrom, promisee Party

{[ snackBarMessage ]}