CONTRACTS.doc - CONTRACTS...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
CONTRACTS This is our first area of substantive law! Generally, governed by common law. Unless a statute or regulation changes common law. Definition –  promise(s)  breach = remedy performance = duty short definition:  legally binding agreement between parties 4 Requirements of a Valid K: 1. Agreement, including offer and acceptance 2. Consideration 3. Capacity 4. Legality Ways to not have a K (Defenses): 1. Lack of assent (agreement) 2. Wrong form (not written where law requires it) Parties in the K: Offeror – makes the offer Offeree – has power to accept the offer
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Promisor – makes a promise Promissee – a promise is made to him/her
Background image of page 2
CONTRACTS      cont’d     Terms to Describe Ks: 1. Unilateral – accept offer by performing Promise for action K formed when the action is completed Examples: Lottery Contest Walk across the bridge
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/07/2010 for the course BLAW 3311 taught by Professor Boykin during the Fall '07 term at UT Arlington.

Page1 / 5

CONTRACTS.doc - CONTRACTS...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online