03.27.2008 LPP 255 Class # 16

03.27.2008 LPP 255 Class # 16 - Contracts I Contracts I...

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Unformatted text preview: Contracts I Contracts I Requirements of Contracts Requirements of Contracts Agreement Consideration Capacity Legality (Defenses to enforcement: Genuineness of Assent, Form) Types of Contracts Types of Contracts Bilateral Unilateral Ardito Case Express Implied Implied in Fact Implied in Law (Quasi Contract) Agreement Agreement Offer: ­serious intent ­ Lucy v. Zehmer case ­reasonably certain terms ­ Baer v. Chase case ­communicated Agreement (cont’d) Agreement (cont’d) NON­OFFERS: ­Expressions of opinion ­Statements of Intention ­Preliminary Negotiations ­Agreements to Agree ­Advertisements Agreement (cont’d) Agreement (cont’d) Termination of Offer Mirror Image Rule Termination by Operation of Law Agreement (cont’d) Agreement (cont’d) Acceptance *Authorized Means of Acceptance* Consideration Consideration Definition Pre­existing Duty Rule (Unforeseen Difficulties) Past Consideration Promissory Estoppel Hamer v. Sidway case Capacity Capacity Minors Intoxication Mental Incompetence Legality Legality Non­compete agreements Problems Problems Problems: 1,2,3,10 ...
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