contract law slides
DESCRIPTION
BUS 263 class slides from February 27, 2014.TRANSCRIPT
Chapter 9:
Formation of
Traditional and e-
Contracts
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• Contract?
– A PROMISE or a SET OF PROMISES for
which the law gives a remedy or the
performance of which the law in some way
recognizes as a duty
• Contract?
– A PROMISE or a SET OF PROMISES for
which the law gives a remedy or the
performance of which the law in some way
recognizes as a duty
Contracts
cc licensed ( BY ) flickr photo by D. Sharon Pruitt: http://flickr.com/photos/pinksherbet/
cc licensed ( BY ) flickr photo by Mary Bliss: http://flic.kr/p/6pyfRe
cc licensed ( BY NC SA ) flickr photo by Rachel James: http://flic.kr/p/4T3aS8
cc licensed ( BY NC SA ) flickr photo
by anna o.: http://flic.kr/p/6ozuRG
cc licensed ( BY NC SA ) flickr photo by Peter Dutton:
http://flic.kr/p/e1xGF7
cc licensed ( BY NC ) flickr photo by Deep Frozen Shutterbug: http://flic.kr/p/4kBCPS
cc licensed ( BY NC SA ) flickr photo by Trey
Ratcliff: http://flic.kr/p/uH6eF
cc licensed ( BY NC ) flickr photo by Kevin McShane: http://flic.kr/p/7cmzjX
Contract?
• Do Helen and I have a contract?
cc licensed ( BY NC SA ) flickr photo by Pierre J.: http://flic.kr/p/5CMRKY
elements of a contract
cc licensed ( BY NC SA ) flickr photo by
Álvaro Canivell: http://flic.kr/p/34n54H
agreement
• offer
• acceptance
cc licensed ( BY NC ) flickr photo by Dennis Gotta:
http://flic.kr/p/6aXDU3
contractual capacity
© TomT, http://flic.kr/p/5VDVhf
legal subject matter
cc licensed ( BY SA ) flickr photo by Wesley Fryer: http://flic.kr/p/5pL44G
cc licensed ( BY NC SA ) flickr photo by
daikiki: http://flic.kr/p/6MVs3i
Statute of Frauds
cc licensed ( BY NC SA ) flickr
photo by Whitney Gallien-Hedges:
http://flic.kr/p/2bdQLH
Interest in land
cc licensed ( BY NC ND ) flickr photo by
Rachel Monroe: http://flic.kr/p/53uH8v
can't be performed in
one year
cc licensed ( BY NC ND ) flickr
photo by Margaret Almon:
http://flic.kr/p/35NwvN
promises to pay someone
else's debt
cc licensed ( ) flickr photo by
Nantucket Historical...:
http://flic.kr/p/66UEHt
promises
made in
consideration
of marriage
cc licensed ( BY NC ND ) flickr photo by
David Muir: http://flic.kr/p/4eQKXu
sale of goods for
$500 or more
consideration
consideration
• COntract
• COnsideration
• What barnyard animal starts with “CO”?
cc licensed ( BY NC SD ) flickr photo
by GreenViking: http://flic.kr/p/aTxjvB
What does a cow say?
MOO!
Mutuality
Of
Obligation
cc licensed ( BY NC ND )
flickr photo by artizone:
http://flic.kr/p/bmV7jz
peppercorn
rule
Do we have a contract?
Why or why not?
What If?
cc licensed ( BY NC SD ) flickr photo by John 0'Shea: http://flic.kr/p/8kCK6A
Think-Pair-Share
Think-Pair-Share
Ed, a local businessman, is friends with Trudy, who owns a candy store. Every day on his lunch hour, Ed goes to Trudy’s candy store and looks at the candy for a few minutes while chatting with Trudy. Ed usually buys one or two pieces of candy before going back to work. One afternoon, Ed goes into Trudy’s store and picks up a $2 candy bar. Seeing that Trudy is busy with another customer, he catches her eye, waves the candy bar, and walks out. Do Ed and Trudy have a contract?
Do Ed & Trudy have a contract?
Contract Elements?
• Agreement
– Offer
– Acceptance
• Consideration
• Capacity
• Legality
• Form
What if there is no contract?
Contract terminology
• Express
– Explicitly stated
• Implied
– Understood but not stated
cc licensed ( BY NC SD ) flickr photo by [email protected]: http://flic.kr/p/6JSuH4
cc licensed ( BY ) flickr photo by dvs:
http://flic.kr/p/nNfhz
cc licensed ( BY NC ND ) flickr photo by floodkoff:
http://flic.kr/p/4Kuowi
Quasi-contract • Equitable remedy
• Did plaintiff confer benefit on defendant?
• With reasonable expectation of being
paid?
• Will there be unjust enrichment of
defendant?
• Remedy?
• 'quantum meruit'
• "as much as she deserves"
cc licensed ( BY NC ) flickr photo by Just Us 3:
http://flic.kr/p/JtaGt