Contracts Test #1 Review Chapters 7-9 Gary Nelson.

Slides:

Advertisements

Similar presentations

Click your mouse anywhere on the screen to advance the text in each slide. After the starburst appears, click a blue triangle to move to the next slide.

Advertisements

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

Contracts and Contract Law

Contracts: Capacity, Legality, and Enforceability

CHAPTER 16: CONTRACTUAL CAPACITY AND GENUINE ASSENT.

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

Chapter 8— Introduction to Contracts – Classifications, Terminology and Formation REED SHEDD PAGNATTARO MOREHEAD F I F T E E N T H E D I T I O N McGraw-Hill/Irwin.

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

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.

CONTRACTS! What makes a contract?.

Chapter 11 Formation of Traditional And Online Contracts

Review for Test – Chapters 7-10, 12

CONTRACT Law Offer & Acceptance Genuineness of Assent Consideration

Week 2 Agreement Invalid Assent.

Chapter 7 – How Contracts Arise

McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

Nasca The taking back of an offer by the offeror is cancellation. consideration. rejection. revocation. revocation 100.

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.

Chapter 8 in the business law text

ENTERING INTO CONTRACTS

ES 2.00 UNDERSTAND CONTRACT LAW

Law of Contracts. WHAT MUST BE IN A CONTRACT? Offer and acceptance Genuine assent Legality Consideration Capacity Writing.

Chapter 13 Capacity and Genuine Assent Twomey, Business Law and the Regulatory Environment (14th Ed.)

Copyright © 2008 by West Legal Studies in Business A Division of Thomson Learning Chapter 14 Contracts: Capacity and Genuine Assent Twomey Jennings Anderson’s.

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.

Capacity And Genuine Agreement. 6 parts to a Contract Offer Acceptance Capacity Genuine Agreement Consideration Legality.

Contract Basics Business Law. From tort law to contract law TortContract What binds individuals Laws of society, as defined by statutes and precedents.

Chapter 13 The Purchase Contract. Overview of Contracts Offer Acceptance Consideration Defenses Writing Required? Valid Contract Yes No No Contract Void.

Chapter 14 CONTRACTS: CAPACITY AND GENUINE ASSENT

© 2004 West Legal Studies in Business A Division of Thomson Learning 1 I. Introduction I. Introduction II. Elements of a contract II. Elements of a contract.

How Contracts Arise Chapter #5.

Business Law Chapter 7 Review Game. Creation of Offers Termination of Offers Acceptance Final Jeopardy Jeopardy.

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

How Contracts Arise What Are Contracts? Any agreement enforceable by law.

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”

I. Capacity A. Definition B. Limited capacity 1. those persons with a lesser ability to contract 2. three major groups of persons have this protection:

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.

Week 04 Agreements and Contracts. Contracts A contract is a legally enforceable agreement between two or more competent persons. A valid contract is one.

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

Business Law with UCC Applications,13e Offer, Acceptance, and Mutual Assent Chapter 8 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies,

PA Kaplan University1 Unit 6: CONTRACTS. PA Kaplan University2 Overview of Contract Law Sources of Contract Law. – Common Law for all contracts.

Chapter 5 How Contracts Arise. Contract: Any agreement enforceable at law.

Chapter 6 Genuine Agreement. Fraud  A deliberate deception to secure an unfair or unlawful gain  May rescind (cancel) the contract or sue for damages.

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.

Contract Law: Genuine Agreement Objective 3.01 Understand requirements of each element of a contract.

Indian Contract Act 1872 An act meant to ensure that rights agreed between parties in a contract are legally enforced.

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.

Unit 8 Contract Law. To Do List Read Chapter 7 in your textbook Review the website on business organizations Participate in the class Discussion Board.

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.

Indian Contract Act 1872 An act meant to ensure that rights agreed between parties in a contract are legally enforced.

Contracts Review Chapters 7-12.

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

Contracts Lesson Two.

Law of Contracts.

Chapter 9 Nature of Traditional and E-Contracts

Genuine Agreement “meeting of the minds”

CHAPTER 14 Capacity and Consent

Gary Nelson Covering chapter 7 in the text.

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

Mevan Kiriella Bandara

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

Contracts and Contract Law

NATURE OF TRADITIONAL AND

Chapter 9 Nature of Traditional and E-Contracts

Chapter 9 in the text. Gary Nelson

Genuine Agreement Lessons CHAPTER Duress and Undue Influence

Presentation transcript:

Contracts Test #1 Review Chapters 7-9 Gary Nelson

UCC What is the UCC? What part of the UCC covers the law of sales?

Offers What are the requirements for an offer? When is an offer effective? When does an offer end?

Consideration What is consideration? When is it not necessary?

Invitations to Negotiate What is considered an invitation to negotiate, rather than an offer?

Acceptance What constitutes acceptance? How long does the offeree have to accept the offer? What are the rules for when an acceptance is effective?

Mirror Image Rule What does the mirror image rule say? When does it not apply?

Merchants What is a “merchant” under the UCC?

Revocation What is revocation? When is revocation effective?

Fraud What are the requirements for fraud? What is a material fact? What is the effect of fraud? What special type of damage award is available for fraud?

False Representation What is the effect of an innocent misrepresentation?

Duress What constitutes duress? What is the effect of the existence of duress on the contract?

Undue Influence What constitutes undue influence? What is the effect of undue influence on the contract?

Unilateral Mistake What is a unilateral mistake? What kinds of mistakes are considered unilateral? What is the effect of a unilateral mistake?

Mutual Mistake What is another name for mutual mistake? What is a mutual mistake? What kinds of mistakes are considered mutual? What is the effect of a mutual mistake?

Capacity What is capacity?

Minority 1 What is minority? What is the difference between minority and infancy? What is the effect of minority on contracts?

Minority 2 Who may guarantee a minor’s contract? What is the effect of a minor’s claim to be over the age of minority?

Necessaries What are necessaries? To what extent is a minor liable for contracts for necessaries?

Disaffirmance What must a minor due to disaffirm a contract? How long does a minor have to disaffirm a contract? May a minor disaffirm a part of a contract?

Ratification What acts constitute ratification of a contract entered into in minority? What is the effect of ratification?

The end!