Assignment+Two+Notes - Assignment Two Notes Hi Everyone Ive...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Assignment Two Notes Hi Everyone I’ve been promising you some notes for the second assignment, to go along with the discussions in class. Assignments will, of course, be returned in class tomorrow. As I keep discussing in class, this cannot really be taken as a solution or an answer key. These are just elements that would go into a good answer, as well as some tips and key points about common problems that students seemed to experience. I’ll note up each issue in the order they appear. Camilla’s Contract with Her Parents - The major thing is to realize this is a live issue - Unfortunately, a fair number of students skipped over this because it was not explicitly flagged - Note, for future reference, you won’t always have the luxury of having every live issue identified for you - There are a number of factors that weigh against an intention to be bound in contract - The major factors that weigh in favour in favour are simply that selling a major asset isn’t something you can do without a contract - You may decide that the contract is informal and subject to reinterpretation and certainly in danger of dispute - But if there isn’t a contract, what the heck have we got? - Absent a contract, Camilla cannot owe her parents any money and cannot own the store Contract with John - Following offer and acceptance properly is critical here - John makes an offer, Camilla makes a counter offer, John asks for time to think about it
Background image of page 1

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

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Assignment+Two+Notes - Assignment Two Notes Hi Everyone Ive...

This preview shows document pages 1 - 2. Sign up to view the full document.

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