BSLW1102 Chapter Notes - Chapter 12: Caveat Emptor, Quasi-Contract, Contract
20 Jun 2016
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Chapter 12: nature and classes of contracts; contracting on the internet: nature of contracts, definition of a contract. A. 2. often an agreement creating an obligation: elements of a contract. C. 2. performance of professional services provide for the transfer of ownership of property: parties to a contract. D. 2. a) the person to whom the promise is made. D. 4. if it is binding creates a obligor and obligee the parties to contract are said to stand in privity with each other, and the relation- ship between them is termed privity of contract. D. 6. lessor, lessee / vendor, vendee/ shipper, carrier/ insurer, insured parties may be individuals, partnerships, limited liability company, a corporation or government: how a contract rises. F. 1. must have intent to make the agreement binding: freedom of contract. A. 1. a) enforced because the formality with which they are executed is considered sufficient to signify that parties intend to be bound by their terms.
