MGT393H5S - Lecture9 - MGT393H5S Lecture 9 Assignment due...

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

View Full Document Right Arrow Icon
Lecture 9 Assignment due on the 30 th of March Contract Check-up List Enforceable Contract - Intention - Offer (Revoke (2), Lapse (2)) - Acceptance - Acceptance ( ? ? ? ? ?   ? ? ?   ? ? ? ?   Contract ?   ? ? ?   ? ? ? , Enforceable Contract ?  ? ?  ? ?  ? ) - Consideration (4 ? ? ?  ? ? ?  ? ? ? ?   Enforceable Contract ?  ? ? ? ) “Past Consideration is no consideration” Example.1 (Silly Example) - I go for a walk along the lake - Not paying attention and fall in, drowning because you cannot swim - You jump in and saves me - Hmm, you look familiar - $10,000 since you saved me - I changed my mind, and I am not going to give it to you - I offered you a $10,000 after you saved me, which means the saving part is a freebie. - Cannot link it back to the past consideration Example.2 (Gilbert Steel) - Gilbert Steel and a contractor entered into a contract - Contractor will provide you with steel with a price x - Cost of steel goes up - Contractor says that they will pay additional cost - Contractor receives the money which was price X - And Gilbert Steel asks for additional cost and sues - Gilbert should have made a whole new contract, sign the new verse and seal it, or should have given a chalk as well as the steel (something more) “Gratuitous Reduction of Debt” Example.1 Foakes V, Beer - $800, and call it even - Even though I said even, I can come back and ask for the remaining $200 - Should have given a paperclip onto the $800. - Or a sealed document - If you have agreed to give up the debt, you can still get the difference if you have not taken anything. -
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 / 4

MGT393H5S - Lecture9 - MGT393H5S Lecture 9 Assignment due...

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