ADMS 2610 Lecture 2: Lecture 2- Contracts ADMS 2610
9 Dec 2017
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Intention presumed at law when promise made unless: Parties not at arm"s length - (scribbled down contracts made between friends and family are usually not enforceable in court. ) There has to be biding contract between family members court to find intent. The court would not find any intent to su this case. Although, companies can be bound by a contract if they include some sort of monetary reward to convince the consumers on the genuity of their product. Communicated - only the person you make an offer to can accept it. Timing - the offeree has to know about the offer before in order to get the reward. Unambiguous - the contract must be sufficiently clear and contain enough information abou the agreement taking place. Written acceptance - some contracts have to be written such as real estate document, guarantee, etc. * if by email/fax, acceptance is at time received, not when read.
