Management and Organizational Studies 2275A/B Chapter Notes - Chapter 8: Fundamental Breach, Oral Contract, Interlocutory Injunction

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

Document Summary

Legal capacity: the law assumes that individuals and properly constituted organizations have the legal capacity to form contracts, legal capacity: ability to make binding contracts, contract law also emphasizes the importance of consent and voluntariness. In order for a contract to be formed freely and voluntarily by both parties both must be able to understand the nature and consequences of their agreement. Undue influence: undue influence: unfair manipulation that compromises someone"s free will or choice, traditionally operates in two circumstances, actual pressure exerted unfair influence, presumed pressure based on a special relationship sometimes a relationship already exists. Inequality between the parties: the required inequality may result because one party is unsophisticated, poorly educated, lacks language facility, or has lower economic standing. An improvident bargain: the party seeking to have the contract set aside must also be able to demonstrate that its terms greatly advantaged one party over the other.