UofP - MBA560 - Lecture Day One - 06-03-06

UofP - MBA560 - Lecture Day One - 06-03-06 - I can think...

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MBA560 June 3, 2006 Enterprise Risk Ray November No quizzes and no tables for paper. 11 posts per week, minimum Must be 100 words Rebuttals Legally enforceable contract Contracts: Bilateral Unilateral-performance of something or giving up something Preexisting duty—something beyond that you are obligated to do. The law will tell you want you can’t, not can do! Common law: Acceptance must mirror the offer No = rejection of offer
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Unformatted text preview: I can think about it. Question = consideration not counteroffer Consideration Deposit and Acceptance Rule • Becomes a binding acceptance even if it’s lost (which you can still prevail that it was a valid offer). Capacity (ability) to enter into a contract: • Can a minor enter into a contract? Yes; however, the minor may walk away from the contract (e.g., deal). •...
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