BA 3301 Lecture Notes - Lecture 69: Posting Rule, Estoppel, Legal Personality
Document Summary
Contracts need not be wri2en (wri2en, verbal, neither) Illegal ac>ons supersede supposed contracts these facts are not contract in the eye of the law . A contract is an agreement between two or more par3es under which legal rights and obliga3ons are created such that these may be enforced, if necessary, in the courts. Law is civil or criminal: plain>f (burden of proof, balance of probabili>es) v defendant (paid for by. Plain&f) and appellant (bop as above, appellant lost original case) v respondent ( appellant) are civil; State (crown) (bop, beyond reasonable doubt) v accused (taxpayer"s money) is criminal. Contracts facilitate planning by ofering certainty and stability and allocate risk between the par>es where there is a long-term rela>onal contract. An o"er is a proposal by one party which is communicated to another person to enter into an agreement. If accepted, a contract is made. (oferor makes and oferee/s has the op>on to accept/reject/counter-ofer).
