consist of an offer by one party, called the offeror, to enter into a contract, and an
acceptance of the terms of the offer by the other party, called the offeree.
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Agreement
promise exchanged for a promise. As soon as promises are exchanged, a contract is
formed and the parties' legal obligations arise.—i.e paying $50 for mowing someone's
lawn
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Bilateral contracts
,offer must be communicated to the offeree or to their agent. Only the offeree can
accept the offer
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communication to the offeree
A______ contract is not a contract at all- either object is illegal or it has some defect that
is so serious that it is not a contract- i.e a contract to hire someone to murder
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void
if you agree to paint a house and while the offeree is thinking, the hurricane comes
and destroys the house
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destruction of the subject matter
a defensive to the agreement of a contract in which the offeree claims that the offeror
secured the agreement through improper means, such as duress, fraud, undue
influence, or misrepresentation.
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, Lack of genuine assent
an invitation to negotiate or an expression of possible interest in an exchange is not
an offer
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Preliminary negotiations
the terms of the offer must be definite and certain- all the material (important) terms
must be included. Material terms are those terms that allow a court to determine what
the damages are in the event that one of the parties breaches the contract
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definite and certain terms
contract not from words but from the conduct of the parties. There are 3
requirements: plaintiff provided some property or service to the defendant, plaintiff
expected to be paid for such property or service and a reasonable person in the
position of the defendant would have expected to pay for such property or services,
defendant has an opportunity to reject the property or services but did not-i.e- had a
heart attack, rushed to hospital, person is expected to pay the hospital bill
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Implied contracts
acceptance of the terms of the offer by the other party, called the offeree.
Give this one a try later!
Agreement
promise exchanged for a promise. As soon as promises are exchanged, a contract is
formed and the parties' legal obligations arise.—i.e paying $50 for mowing someone's
lawn
Give this one a try later!
Bilateral contracts
,offer must be communicated to the offeree or to their agent. Only the offeree can
accept the offer
Give this one a try later!
communication to the offeree
A______ contract is not a contract at all- either object is illegal or it has some defect that
is so serious that it is not a contract- i.e a contract to hire someone to murder
Give this one a try later!
void
if you agree to paint a house and while the offeree is thinking, the hurricane comes
and destroys the house
Give this one a try later!
destruction of the subject matter
a defensive to the agreement of a contract in which the offeree claims that the offeror
secured the agreement through improper means, such as duress, fraud, undue
influence, or misrepresentation.
Give this one a try later!
, Lack of genuine assent
an invitation to negotiate or an expression of possible interest in an exchange is not
an offer
Give this one a try later!
Preliminary negotiations
the terms of the offer must be definite and certain- all the material (important) terms
must be included. Material terms are those terms that allow a court to determine what
the damages are in the event that one of the parties breaches the contract
Give this one a try later!
definite and certain terms
contract not from words but from the conduct of the parties. There are 3
requirements: plaintiff provided some property or service to the defendant, plaintiff
expected to be paid for such property or service and a reasonable person in the
position of the defendant would have expected to pay for such property or services,
defendant has an opportunity to reject the property or services but did not-i.e- had a
heart attack, rushed to hospital, person is expected to pay the hospital bill
Give this one a try later!
Implied contracts
