Ch06_3e - 6-1Copyright 2007 by Nelson, a division of...

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Unformatted text preview: 6-1Copyright 2007 by Nelson, a division of Thomson Canada Limited.Presentation prepared by Presentation prepared by Allan Elliott, Southern Alberta Institute of TechnologyAllan Elliott, Southern Alberta Institute of TechnologyCANADIAN BUSINESS CANADIAN BUSINESS AND THE LAWAND THE LAWThird EditionThird EditionbybyDorothy Duplessis Steven Enman Shannon OByrne Sally Gunz6-2Copyright 2007 by Nelson, a division of Thomson Canada Limited.CHAPTER SIXCHAPTER SIXFORMING CONTRACTUAL FORMING CONTRACTUAL RELATIONSHIPSRELATIONSHIPSOBJECTIVES:How negotiations lead to a contractual relationshipHow negotiations can be terminatedWhat the legal ingredients of a contract areHow contracts can be amended or changed6-3Copyright 2007 by Nelson, a division of Thomson Canada Limited.LEGAL INGREDIENTS OF A LEGAL INGREDIENTS OF A CONTRACTCONTRACT1. OFFER2. ACCEPTANCE3. CONSIDERATION4. INTENTIONCONTRACT6-4Copyright 2007 by Nelson, a division of Thomson Canada Limited.LEGAL INGREDIENTS OF A LEGAL INGREDIENTS OF A CONTRACTCONTRACT1.OFFERA promise to perform specified acts on certain termsINVITATION TO TREATAn expression of willingness to do business6-5Copyright 2007 by Nelson, a division of Thomson Canada Limited.LEGAL ANALYSIS OF THE RETAIL PURCHASELEGAL INGREDIENTS OF A LEGAL INGREDIENTS OF A CONTRACTCONTRACTDISPLAY OF GOODS (invitation to treat)CUSTOMER TAKES ITEM TO CASH REGISTER (offer to purchase at sticker price)CLERK TAKES PAYMENT (acceptance of offer)Figure 6.16-6Copyright 2007 by Nelson, a division of Thomson Canada Limited.THE PARTIES TO A CONTRACTTHE PARTIES TO A CONTRACTOFFERORThe person who makes anOFFEROFFEREEThe person to whom an OFFER is made6-7Copyright 2007 by Nelson, a division of Thomson Canada Limited.TERMINATION OF AN OFFERTERMINATION OF AN OFFERAN OFFER MAY BE TERMINATED BY:Revocation: withdrawal of an OFFERLapse: expiration of an OFFER after a specified or reasonable periodRejection: the refusal to accept an OFFER...
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Ch06_3e - 6-1Copyright 2007 by Nelson, a division of...

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