Law 2101 Lecture 1: Contract Law-lecture 1

• School: Western University
• Department: Law
• Course: Law 2101
• Professor: Mysty Sybil Clapton

Document Summary

Function of contract law: facilities exchange, law will give remedies that stimulate performance, separates legal from moral, tells which promises can be legally enforced. Technical aspects of contract formation: offer & acceptance, there is an offer that is capable of being accepted, consideration, bargain for an exchange of value- doctrine of consideration. Intention to create legal relations: what they are doing is reasonably entering them into a contract, must prove these 3 characteristics. Inclusive terms: outward directed expression, sufficiently certain, objective, time requirements, willingness to be bound. It is a fundamental principle of contract formation that the offer which states the contractual terms must do so with sufficient definitiveness. A contract is formed when there is, to all outward appearances, contract. Invitation: the display of priced goods was an invitation to treat: offer: the customer made an offer to the cashier, acceptance: which the cashier accepted under the supervision of the pharmacist. No sane business person would make this offer