LAW 122 Study Guide - Midterm Guide: Reasonable Person, Consumer Protection, Drayton Mclane
7 Nov 2016
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Contracts and privity: who can sue and be sued under a contract. Contract is a voluntary option (making a decision) Example: i have a ferrari and im fed up with it, regular is 105 0000 ill sell it for 75 000 and other person agrees to buy it. Buy a coffee yes because there is an offer, yu accept it and pay for it. A contract is a legally enforceable agreement. Generally a contract does not have to be in writing to be enforceable. Public institutions enforce private laws (supreme court, or tribunals) Legal test: intention to create legal relations, meeting of the minds (offer and acceptance, exchange of value(consideration) Must the contract be in writing? (does not need to be in writing: general rule: no. Action (bringing item to someones house so they can purchase it) Examples of contracts that need to be in writing. When its big amount like buying a house.
