BSEN 395 Lecture Notes - Lecture 4: Fiduciary, Special Relationship, Uberrima Fides

• School: University of Calgary
• Department: Business and Environment
• Course: BSEN 395
• Professor: Danielwilson

Document Summary

Formal - derives its validity from its form. Certain contracts if not in writing are not enforceable. Types of contracts covered by the statutes of frauds- has to be in writing. Contracts by executors and administrators to assume liabilities of estate. Lease for more than a year must be in writing. Contracts that cannot be performed within a year**** Within a year doesn"t have to be in writing. Not enforceable if it"s not in writing. Need all terms of contract (3p"s: parties, properties, price) Can be exchange of letters - 2 letters together can constitute an agreement in writing. Must be signed by the party against whom it is being enforced. A rule that prevents a party from introducing evidence that would add to or contradict terms of a contract. Limits the kind of evidence that may be used to prove terms of a contract.