LAW 122 Lecture Notes - Lecture 5: Contract
3 Dec 2015
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Meeting of the minds (offer and acceptance) Generally, does not have to be in writing. Fobasco v cogan (1990) (could not prove because of the social context) (family & social context transactions) there is no legal contract if they promise to buy a car when you do good in school. Agreement over the details of a mutual decision to enter into a legal relationship between two parties: An offer is the experience is the expression on the basis of specific terms of the intention to enter into a contract (a legally binding agreement) If the other party accepts then there will be obligations. An invitation to treat is a willingness to receive offers from others, to do business with others. The person responding to the invitation will make the actual offer. The original person may then accept the offer. The inviting person is protected, because they control whether they will be legally bound or not.
