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Contract law slides

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BUS 263 class slides from February 27, 2014.

BUS 263 class slides from February 27, 2014.

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Contract law slides Contract law slides Presentation Transcript

  • Chapter 9: Formation of Traditional and eContracts cc licensed ( BY NC SA ) flickr photo by LOSINPUN: http://flic.kr/p/aNHv22
  • Contracts • 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
  • 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 Tr Ratcliff: http://flic.kr/p/uH6e
  • cc licensed ( BY NC ) flickr photo by Kevin McShane: http://flic.kr/p/7cmzjX
  • Contract? • Do Helen and I have a contract?
  • elements of a contract cc licensed ( BY NC SA ) flickr photo by Pierre J.: http://flic.kr/p/5CMRKY
  • agreement • offer • acceptance cc licensed ( BY NC SA ) flickr photo by Álvaro Canivell: http://flic.kr/p/34n54H
  • contractual capacity cc licensed ( BY NC ) flickr photo by Dennis Gotta: http://flic.kr/p/6aXDU3
  • legal subject matter © TomT, http://flic.kr/p/5VDVhf
  • Statute of Frauds cc licensed ( BY NC SA ) flickr photo by daikiki: http://flic.kr/p/6MVs3i
  • Interest in land cc licensed ( BY NC SA ) flickr photo by Whitney Gallien-Hedges: http://flic.kr/p/2bdQLH
  • can't be performed in one year cc licensed ( BY NC ND ) flickr photo by
  • promises to pay someone else's debt cc licensed ( BY NC ND ) flickr photo by Margaret Almon: http://flic.kr/p/35NwvN
  • promises made in consideration of marriage cc licensed ( ) flickr photo by Nantucket Historical...: http://flic.kr/p/66UEHt
  • sale of goods for $500 or more cc licensed ( BY NC ND ) flickr photo by David Muir: http://flic.kr/p/4eQKXu
  • 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
  • peppercorn rule cc licensed ( BY NC ND ) flickr photo by artizone: http://flic.kr/p/bmV7jz
  • 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
  • c licensed ( BY NC SD ) flickr photo by kerriantes@sbcglobal.net: 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