BUS 233 Chapter Notes - Chapter CH3: Consumer Protection, Rescission, Richmond, British Columbia

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 233
• Professor: Sasha Ramnarine

Document Summary

Irac method in answering questions (f - facts, are given in exam) A voluntary exchange of promises or commitments that are enforceable in our courts. They can create, modify or remove obligations and responsibilities. Some statutory modifications, eg consumer protection, sales of goods legislation: consensus. Parties come to a common understanding (even no offer and acceptance, can still be considered contract exist) Enticements offers questions arguments counter-offers agreement valid offer. The courts, when looking at consensus and intention, will give effect to the reasonable expectations of the parties to the contract. Tentative promise that contains the terms of the anticipated contract. Invitations to treat are not offers (eg advertisements, catalogues, displays, clearly marked and priced goods in self-service situation) Essential to clearly stipulate parties, property, and price - 3p. Need not be writing (verbal/ implied by conduct) Must be communicated at the time of entering the contract, not later.