Contract Presentation.. Offer and Acceptance Questions: 1.What are the requirements of an offer? 2.How are acceptances Created? 3.What are the elements.

Slides:

Advertisements

Similar presentations

Chapter 12 Void and Voidable Agreements. What makes an agreement void or voidable? b because it violates the law as stated in constitutions, statutes,

Advertisements

Contracts and Contract Law

Section 6.1 Transferring and Ending Contracts.

ES 2.00 UNDERSTAND CONTRACT LAW

Chapter 7 Genuine Assent- O Determining whether a true and complete agreement exists.

CHAPTER 8 TEST REVIEW Genuine Assent.

BELL QUIZ ON CHAPTER 5 What is any agreement that is enforceable by law? There are six elements of a contract. Name TWO. How many promises does a bilateral.

Bus Law..Spr 2015 POWERPOINT #2. BUSINESS LAW: Friday, February 13, 2015  EQ: Understand contract law.  Understand elements and characteristics of a.

Law for Business and Personal Use © South-Western, a part of Cengage LearningSlide 1 Chapter 7 Genuineness of Assent Chapter 7 Genuineness of Assent 7-1.

LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible.

Law for Business and Personal Use © Thomson South-Western CHAPTER 7 Genuineness of Assent 7-1Duress and Undue Influence 7-2Mistake, Misrepresentation,

© OnCourse Learning Chapter 7 : Contract Law. © OnCourse Learning A legally enforceable agreement to do (or not to do) a particular thing.

Contracts. A contract… is any agreement enforceable by law.

 5 Parts to be Legal and Valid  Offer and Acceptance: Both parties bring something to the table to offer in a contract.

Contract Law for Paralegals: Traditional and E-Contracts © 2009 Pearson Education, Upper Saddle River, NJ All rights reserved Genuineness of Assent.

Prepared by Douglas Peterson, University of Alberta 11-1 Part 3 – The Law of Contract Chapter 11 Failure to Create an Enforceable Contract.

© 2007 Prentice Hall, Business Law, sixth edition, Henry R. Cheeseman Chapter 13 Genuineness of Assent Chapter 13 Genuineness of Assent.

Genuine Agreement If the offeror makes a valid offer, and the offeree has made a valid acceptance, then a genuine agreement has been reached. The courts.

P A R T P A R T Contracts Introduction to Contracts The Agreement: Offer The Agreement: Acceptance Consideration Reality of Consent 3 McGraw-Hill/Irwin.

Law for Business and Personal Use © Thomson South-Western CHAPTER 7 Genuineness of Assent 7-1Duress and Undue Influence 7-2Mistake, Misrepresentation,

Chapter 11 – Failure to Create an Enforceable Contract

Section 4.1 Agreements and Contracts Section 4.1 Agreements and Contracts A contract is any agreement enforceable by law.

Contracts. Formation of a Contract Mutual Assent (offer and acceptance) Consideration Capacity Legality.

Chapter 7 Contract Formation Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent.

Understanding Business and Personal Law Mistake, Duress, and Undue Influence Section 6.2 Genuine Agreement In addition to fraud and misrepresentation,

Genuineness of Assent Chapter 5. Genuineness of Assent ► A contract may be voidable if the parties have not genuinely assented to its terms. Assent may.

Genuine Agreement “meeting of the minds”

Genuine Assent Chapter 7. Genuine Assent ► True and complete intent to enter into a contract Without it, contracts are typically voidable.

By Ladavia Cullum. Section 6.1 Fraud- a deliberate deception intended to secure an unfair or unlawful gain. Rescind- To cancel a contract. Material Fact-

Chapter 7 Genuine Assent.

What are the elements of a contract? There are 6 major requirements that must be satisfied before courts will treat a transaction as a legally enforceable.

CONTRACT LAW LAW II CONTRACT LAW. INTRODUCTION CONTRACT: An agreement between two or more parties that creates obligations enforceable by law. A contract.

THE INDIAN CONTRACT ACT, Section 2 (h) defines a contract as “ an agreement enforceable by law” Thus to make a contract there must be An agreement.

Section 6.2 Voidable Contracts and Remedies. Section 6.2 Voidable Contracts and Remedies A contract that seems to be valid can be voided if the agreement.

CHAPTER 7 GENUINENESS OF ASSENT.

Offer and acceptances Elements of a contract? Requirements of an offer? How do you keep an offer open? How are acceptances created? How to prevent legal.

Law in Society Ms. Baumgartner. Section 1 Objectives  Recognize when genuine assent is not present  Identify the two key elements in undue influence.

Slide 1 The Law of Contracts I.Define the contract and the role of contracts in our economy. II.Identify and Define the Elements Required to Form a Contract.

Law for Business and Personal Use © South-Western, a part of Cengage LearningSlide 1 Chapter Mistake, Misrepresentation, and Fraud GOALS Recognize.

Duress & Undue Influence Genuine agreement also called genuine assent or mutual assent may be lacking due to fraud, misrepresentation, undue influence,

Law for Business and Personal Use © South-Western Publishing G O A L S Duress and Undue Influence Define genuine agreement and rescission Identify when.

Contracts CLU3M – Understanding Canadian Law.  We will learn the process and limitations on making contracts in Canada. Learning Goals.

1.04 Contracts.

Void and voidable agreements -A Brief Analysis

1.04 Contracts.

The Law of Contracts Ch. 7 The Law of Contracts Lesson Objectives

Genuine Agreement Contracts Part 2.

7-1 Duress and Undue Influence

Contracts Lesson Two.

1.04 Contracts.

Genuine Agreement “meeting of the minds”

1.04 Contracts.

1.04 Contracts.

The Law of Contracts Ch. 7 The Law of Contracts Unit Objectives

Chapter 7 Genuineness of Assent

Chapter 13 Genuineness of Assent

Law For Personal And Business Use

LAW ELEMENTS OF A CONTRACT.

1.04 Contracts.

Lesson 8-1 Quiz Review.

Business Law Rustemeyer

1.04:PP3 Contracts.

1.04 Contracts.

Jeopardy T/F 1 T/F 2 MC 1 MC 2 Random Q $100 Q $100 Q $100 Q $100

1.04 Contracts.

1.04 Contracts.

1.04 Contracts.

Genuine Agreement Lessons CHAPTER Duress and Undue Influence

1.04 Contracts.

Presentation transcript:

Contract Presentation.

Offer and Acceptance Questions: 1.What are the requirements of an offer? 2.How are acceptances Created? 3.What are the elements of a contract? 4.How can an offer be kept open? 5.How can offers be ended? 6.How can you prevent legal difficulties when entering into a contract? Answers: Offer and acceptance, Genuine assent, legality, consideration, capacity, writing. Acceptance occurs when a party to who an offer has been made agrees to the proposal. Mutual consent, offer and acceptance The offer is the basis of the bargain. If its not valid, there can be no contract for the courts to enforce. If there is no basis of the bargain. A. make sure its in writing.

Genuine Agreement 1.What is Genuine agreement and rescission? 2.What is undue influence? 3.What is a unilateral mistake? 4.What are mutual mistakes? 5.What is misrepresentation? 6.What is fraud and what is a remedy for fraud ? Agreement to enter into a contract that is evident by words or conduct between parties. One party is in position of trust and wrongfully dominates the other party. When one party holds an incorrect belief about the facts related to a contract. Both parties have an incorrect belief about an important fact. Misrepresentation is a contract law concept, meaning false statement of fact made by one party to another party. fraud is a deliberate misrepresentation which causes another person to suffer damages, usually monetary losses. Remedy of fraud

Legality of Contracts Which contracts are made illegal by specific statute? Which agreements obstruct legal procedures?