LAW 122 Lecture Notes - Lecture 5: Objective Test, Reasonable Person, Contract

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Stern Gabriel

Document Summary

Individual can enter in a contract, corporation can enter a contract, government can enter into a contract) Essential elements key elements to the formation of a contract: inention to create legal relations, meeting of the minds (talking/discussing about the same subject, consideration (i. e. exchange of value) All the elements must be present: some will be implied, some have a rebuttal presumption. Must a contract be in writing: no-rule: hanshake, phone call, action, half written, emails and conversation, yes exceotions: statue of frauds(land), sale of goods, contracts lasting longer than a year, consumer protection legislation) Rule: parties must intend to create legal relations. Some presumptions in law: familes/social, presume that there is no intent, commercial, presume that there is intent, both presumptions are rebuttable (can be refuted/proved wrong) Invitation to treat is an indication of a willingness to receive an offer (not an offer)