BUSI 2601 Chapter Notes - Chapter 5: Canadian Business, Breach (Security Exploit), Helen Baxendale
Document Summary
Presumption - legal assumption that is made, subject to a party proving otherwise. Businesses understand that the promises they make to each other carry legal consequences and that they may be sued if promises are broken. Presumption exists only between marketplace and business relations. Intention to form contract may be rebuttable - capable of being refuted. Court does not need proof of entering contract, just presumes that both parties had business intentions. Both parties must agree to the service and the contract terms. Process begins by 1 party setting up an offer and an unconditional acceptance of that offer, by the other party - either verbal agreement or signed document. Disputes arise when the finality or conditions are desired to be negotiated by 1 party. Disputes also arise if one party claims that it accepted the offer and enforces the contract, while other party claims offer was no longer open for acceptance.