BU231 Chapter Notes - Chapter 10: Oral Contract, Miscarriage, Standard Form Contract
Document Summary
Contracts may be in one of the following 3 forms: Bu231 chapter 10: writing and interpretation: terms entirely spoken, terms are part oral and part written, terms are entirely in writing, whether all in one document or spread through several. Large majority of contractual disputes are not about existence of contracts but about the differing recollections of the terms of the contract and meaning of words used. Find most reasonable meaning that can be attributed to the words in the circumstances. Legislators have identified high risk contracts required in writing. There are writing requirements imposed by 2 types of legislation: the statute of frauds, consumer protection legislation. Part performance: performance undertaken in reliance on an oral contract relating to an interest in land, and accepted by the courts as evidence of the contract in place of a written memorandum. Detrimental reliance: plaintiff must have relied on existence of contract and suffer loss if contract is not enforced.
