Ch 1 Outline:
2 Major Court Systems
1. The Federal Court System
a. Article III of U.S. Constitution says that federal governments judicial power is
vested in one supreme court. Also needs inferior federal courts
i. U.S. District Courts
1. The federal cour
Terms of a K:
What do you need to have included for a K to be valid?
Restrictive (Specific and clear)
What information is necessary and why?
Information that is enforceable in a court of law, therefore the contract is valid
What is meant by capacity to enter a K?
You are legally able and have all of the right elements in which to enter a contract
Infancy doctrine: A minor has an absolute right to disaffirm a contract for the
purchase of items that are not necessities.