Management and Organizational Studies 2275A/B Chapter Notes - Chapter 7: Microsoft Onenote, Apse, Electronic Document

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

Document Summary

Became common through the rise of the merchant class in england. Contracts needed when england became a trading nation. Contracts and commerce governed by case law and statues. 17th century - development of the bargain theory of contract. Intention to be bound: the assumption at law that strangers intent to be bound by their promises. To be enforceable it must be in writing or in an electronic substitute. The results will be meeting the parties" minds on the terms and conditions that will form the agreement. Consensus ad idem: agreement as to the subject or object of the contract. Requirement that there is intention on the promisor to be bound to the promise. The parties must be of one mind and their promises must relate to that subject or object. Promises made between family are not considered to be enforceable by contract. Promises mad by ads and other written media isn"t enforceable.