LAW 122 Lecture Notes - Lecture 8: Risk Management, Contra Proferentem, Force Majeure

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Eric Libman

Document Summary

Statements made during negations(pre-contract: puffs: mere sales words (cid:272)o(cid:374)se(cid:395)ue(cid:374)(cid:272)es (cid:862)satisfa(cid:272)tio(cid:374) guarantee(cid:863, representations: induce contract not part of contract but possible consequences( if false i. e. misrepresentation, terms: contractual promises. The statements you make in an offer become the terms of the contract upon acceptance. Can ground a claim of breach of contract if false. Statement made during negotiations becomes enforceable obligation within contract. Not part of contract itself often used to encourage & entice into. Title: there is often a document title at the top should briefly state the overall purpose of the document. Purpose: statement describing the type of transaction, what and why there is a contract. A business contract must be for a legal purpose to be considered valid. If, for example, one party knowingly contracted to deliver stolen merchandise for a second party, the second party would have no legal recourse if the first party failed to deliver the goods to their intended destination.