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class notes - sept 20 - Contract Law

class notes - sept 20 - Contract Law - Smoke Ball 1893 p 21...

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Contract Law Was there a contract? Contracts can be written or oral. 2 exceptions. 1 Contracts for land must be in writing in Canada. 2 Personal guarantees must be in writing. Contract law is flexible but a contract must be 6 key elements 1 intent 2 offer 3 acceptance 4 consideration/exchange 5 capacity (mental understanding) 6 legality If missing any one element, it is not a contract and is voidable. Intent – law both parties must have intent The law presumes intent to exist where the parties are strangers or in commerce generally This presumption can be rebutted (argued against) Where intent is in ISSUE the court will ask ‘Would a reasonable person looking at the outward conduct of the parties say they shared intent?’ (Carlill v Carbolic
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Unformatted text preview: Smoke Ball, 1893, p 21 of supplement) Two types of contracts Bilateral contract – promise in exchange for promise Consideration – mutual exchange of promises Unilateral contract – promise in exchange for act or service Consideration – promise in exchange for an act Offer – proposal and intent Invitation to treat, soliciting offers = not true offer, can’t be accepted as there is no intent Has to be clear, unambiguous, and contain all the terms Courts look for three key terms 1 parties 2 exchange 3 subject matter of contract R v 279202 Alta Ltd. (Visions Electronics) 1991 Kianapple Principle...
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