GEOLOGY 002 Lecture Notes - Lecture 14: Actual Notice, Externalization, Quid Pro Quo
Document Summary
Alternatives to contract: morality and reputation (on the basis of the principle of trust i. e. a small village). Purchase of a train ticket at the train station. Ns hired an employee who is paid to sell me the ticket. Ns concluded an agreement with a company that build the trains. Main obligation: exchange of money for the ticket. Contract needed in case of delay or to authorize my presence on a ns train. Without a contract: no profit for ns and probably inconveniences (i. e. delay) General principles of contract are useful in order to solve particular situations. Freedom of contract: people of valutiki are able to decide the contents of the contract: freedom to contract at all, freedom to choose the contents, freedom to choose with whom conclude a contract. Binding force: the parties are bound by contract, particularly by what they agreed upon.
