BADM*1010 Chapter : LAW ch 5-12.docx
Document Summary
Chapter five: making enforceable business agreements: a contract is an agreement that is enforceable in a court of law. Invitation to treat invitation to engage in the bargaining process. Often these terms conflict (e. g. both parties include a liability waiver in their form) and yet offer and acceptance are achieved forming a binding contract. Intention: the parties to an enforceable contract must have intended from the start of the process that legal obligation would result from their agreements, puffery exaggeration by companies (does not intend to be legally bound to the statement) If terms used in contract have multiple meanings, that term is construed so as to give any benefit of the doubt to the non-drafting party contra proferentem against the one who offers offeree as the weaker party. Interpretation: the exemption clause will be narrowly and strictly interpreted. Overview of misrepresentation, parole evidence rule and entire agreement clauses.
