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22download_doc-8.php - L 293 (2/18/2009) Introduction to...

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L293 (2/18/2009) Introduction to Contracts What is a contract? o Not every promise is legally enforceable “I promise to come to class on time” o But when a set of promises has the status of contract, a person injured by a breach of that contract is entitled to call on the courts to force the breaching party to honor the contract In other words… o A contract is a promise that a court will enforce Elements of Contracts: The things that make a contract legally enforceable o (1) Agreement (2) between competent parties (3) based on genuine assent of the parties that is (4) supported by consideration, (5) made for a lawful purpose, and (6) in the form required by law, if any o If any one of the above are absent, there is no contract! Jackson v. Connecticut Lottery Corp. o Is a lottery ticket a contract? o Did it matter that Jackson did not know of the one-year presentment limitation? Should it have?
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22download_doc-8.php - L 293 (2/18/2009) Introduction to...

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