Lecture 1 (WK4)

Lecture 1 (WK4) - Lecture 1 The Core Learning Outcomes...

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Lecture 1 The Core Learning Outcomes addressed this week are: Demonstrate the ability to brief a case Examine the legal requirements for contract formation. Describe basic concepts of contracts. Other Key Concepts: Chapter 12: consideration, illusory promises, preexisting duties, exceptions: promissory estoppel, charitiable subscriptions   Chapter 13: What is the difference between void and voidable contracts? (see week 3), rescind, ratification, innocent misrepresentation , fraud, conceilment, nondisclosure, mutual mistake, unilateral mistake, duress, undue influence   Chapter 14: capacity, disaffirmance, exculpatory clauses, emancipation, ratification, see lecture below for review of who the law considers to have diminished capacity to contract (minors, the mentally impaired, and the intoxicated) and when the law protects them. Lecture:  Chapter 14,  Capacity to Contract Capacity--an ability to incur legal obligations and acquire legal rights. Most adults have the capacity to contract . However, most if not all states recognize that minors and some protected groups of adults have not developed good judgment and are easily taken advantage of. The law protects these people from shysters by making the contract void or voidable depending on the degree of incompetence to contract. If at the time the contract took place, a
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This note was uploaded on 06/08/2010 for the course MG 260DLB taught by Professor Brentgilje during the Fall '09 term at Park.

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Lecture 1 (WK4) - Lecture 1 The Core Learning Outcomes...

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