BU231 Chapter Notes - Chapter 6: Standard Form Contract, Inequality Of Bargaining Power, Car Rental
Document Summary
Chapter 6 formation of a contract: offer and acceptance. The nature of a contract: contracts begin with a promise, but not all promises become contracts, moral and legal obligations are separate things, contract - a set of promises that the law will enforce. Four basic requirements to form a legally enforceable contract: offer, acceptance, consideration, and intention. In the vast range of unregulated activity, the public receives only as much protection as the courts can find in the general law of contract. If the court believes the steps were inefficient, the offeree is not bound by the term and will have the same remedy as if the term was not included. If the offeror rejects the counter-offer, the original offer does not revive. If a consumer mistakenly pays for an unrequested service, he may request a refund. Communication to the offeror: generally speaking, an offeree must communicate acceptance to the offeror.
