o Exists only in those exceptional circumstances where a court feels compelled to impose upon one person regardless of whether s/he had any intention of making a contract. o Limits You can’t go around just offering goods and then bill them later, especially if it's usually a free good or service. You can’t if the other person doesn’t know that they were unjustly enriched You get bumped to first class because it was oversold and then you get a bill for the seat later Valid Contract o Agreement (Mutual Assent): when two people agree on terms of a deal, “meeting of the minds”, doesn’t require 100% agreement on all details, just awareness that they are entering contract o Consideration: contract must be about something of value o Capacity: both parties need to be of mental capacity to enter a contract. No minors, mentally ill etc. o Legality: must be legal, cannot agree to anything illegal 7
Voidable Contract o One of the parties can choose to get out of it o Where one of the parties can legally withdraw if they want to Void Contract o Outright missing one of the four (above mentioned) requirements of a contract o Oxymoron, because it was never a contract in the first place Unenforceable Contract o Was once valid o But during the process, completion becomes IMPOSSIBLE o EX: if someone who is agreement dies Negotiated Contract o Negotiating to help parties come to an agreement o Many agreements are not actually negotiated agreements at all Contract of Adhesion o Take it or leave it contract o Generated by the party which more bargaining power o Usually done with large groups of people o Ex: apartment leases Output Contracts o A contract to sell all that you can make o Exact or even ballpark quantity estimates not available Requirements Contract o A contract to buy all that you need Unconscionability o Very extreme and severe contract o Maybe it’s unfair o It is so one sided that it becomes unconscionable o Associated with check cashing facilities that change high interest rates to loan money o Exploring an offer and an acceptance Agreement of contract → meeting of minds o Offer that has been accepted → contract o There should be a reasonably clear understanding between the parties, they are on the same page o Agreement must be manifested by both parties intending to enter into said agreement o From a reasonable person standpoint: if it looks like intent, it is intent What constitutes an acceptance of the offer? o Offeror: gives the offer o Offeree: receives the offer Legal Requirements for an offer Manifestation of intent to form a contract Sarcasm, jokes, cannot be the basis of a valid contract Negotiated agreement: preliminary negotiations don’t constitute an offer/acceptance for a contract o Still trying to determine the subject of the contract o In the case that there is any degree Three Requirements to Form a Contract (Valid Acceptance) o Offeree must intend to accept a contract o
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- Spring '08