Creating a Contract

Creating a Contract - Creating a Contract A. What title of...

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Creating a Contract A. What title of the South Dakota statutes is entitled "Contracts"? SDCL 53 B. What is the definition of a contract in this South Dakota? SDCL 53 -1-1: A contract is an agreement to do or not to do a certain thing. C. What are the essential elements of a contract in South Dakota? SDCL 53-1-2: Elements essential to existence of a contract are: (1) Parties capable of contracting; (2) Their consent; (3) A lawful object; and (4) Sufficient cause or consideration. D. What is the definition of an express contract in South Dakota? SDCL 53-1-3: An express contract is one, the terms of which are stated in words. E. What is the definition of an implied contract in South Dakota? SDCL 53-1-3: An implied contract is one, the existence and terms of which are manifested by conduct. F. What persons are capable of making a contract in South Dakota? SDCL 53-2-1: All persons are capable of contracting except minors, persons of unsound mind, and persons deprived of civil rights. G. Can a valid contract be created in South Dakota without identifying the parties to the contract?
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This note was uploaded on 12/15/2011 for the course BUSINESS L 101 taught by Professor Smith during the Spring '11 term at American.

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Creating a Contract - Creating a Contract A. What title of...

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