COMM231 Chapter Notes - Chapter 5: Standard Form Contract, Posting Rule
25 Aug 2016
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Document Summary
A written or spoken agreement, that is intended to be enforceable by law. Restitution = the restoration of something lost or stolen from its proper owner. There are 5 parts to a contract: offer a description of a promise one party is willing to make. An advertisement to sell a fixed number of items at a fixed price to those who accept first, an offer of a reward for information or the return of a lost object may be valid offers. Offeror makes the offer, and the person who receives the offer is an offeree. Suppose that goods or services are provided to a person without his request but in circumstances where he has an opportunity to reject them. The general contract law rule is that if he accepts the services or uses the goods, he is presumed to have accepted the offer and to have promised to pay the price.
