Contracts

Contracts - (as in buying several pieces o- can expire, but...

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Contracts - contract aspects of interest to Engineers
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- to be binding and enforceable: - offer must be made and accepted - must be mutual intent - consideration - capacity to contract - lawful The law: - will enforce the provisions of a valid contract. - will not impose more favourable terms - some contracts are declared void, voidable, or unenforceable. - rights can (generally) be re-assigned (If not, write it in . . . ) CONTRACTS
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The Offer: - not necessarily in writing (tho - may be withdrawn (unless o - will lapse if not accept - partial acceptance is reall - acceptance must be clearly co Irrevocable Offers (a "consideration" or bids to b Contracts . . .
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The Option Contract: - preserves the exclusive for a specified time, for "consideration" - to allow time for in as in a purchase of assets or - to ensure that all aspects o
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Unformatted text preview: (as in buying several pieces o- can expire, but offeror canno Contracts . . . Communication of offer and accept Timing - Acceptance:- by mail or telegraph - deem (or presented to delive- otherwise, when actually rec Timing - Revoking an Offer:- not effective unt (. . . revocations should be sen Contracts . . . reliable communication!) Communication of offer and acceptance: Governing Law: Generally, the law of the place where the acceptance becomes effective applies (unless specifically agreed otherwise) Modified Forms:- fine print attached to quotations is sometimes altered by offeree- comprises a counter-offer Unless exceptions are declared, when accepted, conditions of counter-offer hold Advice: Make your contracts specific to your requirements in detail. Contracts . . ....
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This note was uploaded on 09/19/2009 for the course ME 416 taught by Professor Kauzmania during the Spring '09 term at Windsor.

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Contracts - (as in buying several pieces o- can expire, but...

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