MGT 3010 Chapter Notes - Chapter 8: Inuit
Mgmt Law chapter 8
Formation of a contract: capacity to contract and legality of object
Legal capacity: competence to bind oneself legally
Repudiate: reject or declare an intention not to be bound by
Minor or infant: a person who has not attained the age of majority according to the law of his
or her province
Age of majority: the age at which a person is recognized as an adult according to the law in his
or her province
Guardian: a person appointed to manage the affairs of a minor in the place of his/her parents
Necessaries: essential goods and services
Beneficial contract of services: contracts of employment or apprenticeship found to be for a
ior’s beefit
Voidable contract: a contract that may be rendered non-binding at the option of one of the
parties.
Ratifies: acknowledges and promises to perform
Void: never formed in law
Representative action: an action brought by one or more persons on behalf of a group having
the same interest
Alien: non-citizen
Aboriginal peoples: Canadian indian, inuit, and metis people
Illegal: offends the public good or violates a statute
Unenforceable: no court assistance or remedy is available to parties of the contract.
Severed: removed from the contract
Wager: an agreement between 2 people in which each has some probability of winning or
losing
Stakeholder: a person or organization that manages a betting arrangement for a fee and
redistributes winnings.
Arbitration agreements: Contracts that require all disputes to be resolved in arbitration, not the
courts.
Common law: precedents developed over time from the decisions of many cases
Agreements in restraint: agreements in restraint of trade, also known as non-competition
agreements or restrictive covenants when they are included in a larger contract
Restrictive covenant: a term in restraint of trade(promise not to carry on a competing business
activity)
Rebut: overcome
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Document Summary
Formation of a contract: capacity to contract and legality of object. Repudiate: reject or declare an intention not to be bound by. Minor or infant: a person who has not attained the age of majority according to the law of his or her province. Age of majority: the age at which a person is recognized as an adult according to the law in his or her province. Guardian: a person appointed to manage the affairs of a minor in the place of his/her parents. Beneficial contract of services: contracts of employment or apprenticeship found to be for a (cid:373)i(cid:374)or s be(cid:374)efit. Voidable contract: a contract that may be rendered non-binding at the option of one of the parties. Representative action: an action brought by one or more persons on behalf of a group having the same interest. Aboriginal peoples: canadian indian, inuit, and metis people. Illegal: offends the public good or violates a statute.
