09 10 2013 Elements Of A Contract An Agreement Offer And Acceptance K K Contract Competent Parties Minors Incompetent People Genuine Assent Mistakes Fraud Undue Influence Consideration Something For Something Lawful Objective Legal Agreements Form Required By Law Statute Of Frauds Contract A Binding Agreement Creates Enforceable Rights And Obligations Parties Contractual Relationship With Each Other Most Basic Is 2 Party Contract 3 Types Of Contracts Valid Binding And Enforceable Void No Legal Effect Voidable On Its Face It Seams Valid But Because Of Special Circumstance The Law Will Allow One Party To Back Out i e Contract Made By A Minor Contract Theory Oral Or Written Express Contract Parties Expressly Agree On All Fundamental Terms Either Implied Contract Parties Make An Agreement But Not On All Fundamental Terms Reasonable Value Of Service Or Product Quasi Contract Doesn t Involve A Contract At All There Is No Agreement Between The Selected Parties Prevent Unjust Enrichment More Examples In Text Pg 275 276 282 9
View Full Document
Unlocking...