ch.6 ( bia ) => application based Flashcards
Is the following situation an offer:
Doug verbally mentions to a client that he would be available to take her case.
No. That is an invitation to treat. He did not set prices, appointments or times. Doug is merely showing his interest in doing business with her.
Is the following situation an offer:
Doug tells his potential client he is available to meet her on Monday, at 2:00 PM, and says the initial consultation will cost $200/hr. The client can text him back if he is available and still interested in having him as her Lawer.
Yes.
Who is the offerer and who is offeree ?:
In a tender agreement where Doug’s Inc. wants to establish a contract with contractors.
Contract A:
1) Doug announces wants to contract
2) Contractors/Tenders bid their prices and terms
( Tenders offerer? )
Contract B:
exclusive to the tender chosen by Doug (offeree ?)
What is the postal rule ?
The rule says that the offer is communicated at the time it has been sent and not received
What is the execption of the postal rule ?
to avoid application of the postbox rule by making it clear in the offer that actual communication or notice of acceptance is absolutely required.
What are the conditions that need to be met in order for a contract to be stablished ?
- Agreement
- Consideration
- Intention
4.
UECA stands for
Uniform Eletronic Commerce Act (statue law)
Is there a contract?
Dogs ask who wants an A+, everyone raises their hand.
No consideration, gratuidos promise
What are the 3 rules to have consideration
- Two-way street: Flows from one party to the other.
Even if it is not directly - Sufficient ( value from a legal perspective )
- love and affection does not count
- adequacy does not count: “ We all make bad deals in business “. Even if the value is not adequate, is there value? - Consideration has to be present
Dad and mom call you and say will leave everything of their will to you. In the end, they end up leaving half to your sister. Can you enforce their promise as a contract?
No that was a gracious promise because there is no consideration: love is not value
Doug wants to build an allowance open an office at the Business building. The faculty starts incurring costs of the new office. Asks Doug for the money he “promised”. Is there a contract? Is he bound by the law to perform?
NO. No consideration, no contract established. If they agreed on building the office, and name after Doug. As Dougy’s Den.
Doug goes to you and offers you a raise for doing the exact same job you currently do. 2 weeks later you ask about it, and he changed his mind. Was there a new contract?
No. Only would have a contract with there was new consideration. I.e: I will give you a raise if you take on this extra work.
contract: Doug made a promise to sell the car for 10,000. He drops the car off at your house on Monday, but you did not pay him.
Is there a contract?
Is there consideration
Yes. There is a contract
What happens when there is no consideration?
No contract is formed
What is a covenant?
promise