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Document Summary
Contract: intention to create a legal relationship. Overview: how can a contract be bought into existence. Intention to create legal relations - this is what a contract is, a binding legal relationship. Offer - offer a person something to want them to enter into a contract with you. 3 main topics in chapter 7. Consideration - what parties give to each other in order for the contract to be binding. Privity - is the main difference between tort and contract law. Contracts are different because the only individuals who can enforce a contract are the individuals involved in signing it. There are a few exceptions where a third party can enforce it. We will look at what type of consideration is adequate and sufficient for entering into a contract and being enforced. Introduction to what a contract is. Contract is a legally enforceable agreement. These 3 elements need to be present.
