Management and Organizational Studies 2275A/B Chapter Notes - Chapter 6: Instant Messaging, Sealing Wax, Homeless Shelter

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Susan Toth

Document Summary

Example: selling of a house dependent upon inspection and proof of nancing: quasi-contracts: a contractual relationship involving a request for goods and services where there is no agreement on price before the service is performed. C: an invitation to engage in the bargaining process. Example: offering a reward for a lost good: offer by conduct, a gesture that implies you are ready to purchase. Expiration of a reasonable time (dependent on what the deal is about) Death or insanity of the person offered. Revocation of an offer (only valid if the person offered is aware the offer has been revoked) Once the gift has been given, the courts will not assist in getting it back: someone receiving a gracious promise can sue the person who gave it to them if damages occur from the action. Gratuitous promise are not consideration: existing duty, people who are legally obligated to do something and enter agreements to do it raises consideration issues.