BTF1010 Lecture Notes - Lecture 2: E-Commerce, Contract, Vagueness
3 Aug 2018
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Contract: an agreement between two or more parties under which legal rights and obligations are created which can be enforced, if necessary, in courts. All purchases to an extent is a form of contract. If one party fails to perform, other party may sue. At the time of the contract is made, risk is allocated) Transfer of title or ownership (eg. car, house and land, shares) Contracts are the means for transferring title or ownership. Formation - the essential elements of an enforceable contract (2. 30) Consent or agreement is the cornerstone of contract law. It is often obvious that there is (or is not) an agreement but sometimes it is not. Where there is a dispute, we begin by asking if there has been an offer and an acceptance of that offer. What is an offer? (3. 20) fig 3. 1 (p60)
