Introduction to contracts
Download
1 / 13

INTRODUCTION TO CONTRACTS - PowerPoint PPT Presentation


  • 102 Views
  • Updated On :

INTRODUCTION TO CONTRACTS. “Contracts are agreements made up of big words and little type.” Sam Ewing, quoted in Saturday Evening Post, May 1993. T. LEIGH ANENSON, J.D., LL.M. Introduction to Contracts The Agreement: Offer The Agreement: Acceptance Consideration Reality of Consent.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'INTRODUCTION TO CONTRACTS' - aman


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Introduction to contracts l.jpg

INTRODUCTION TO CONTRACTS

“Contracts are agreements made up of big words and little type.”

Sam Ewing, quoted in Saturday Evening Post, May 1993

T. LEIGH ANENSON, J.D., LL.M.


Contract law l.jpg

Introduction to Contracts

The Agreement: Offer

The Agreement: Acceptance

Consideration

Reality of Consent

Capacity to Contract

Illegality

Writing

Rights of Third Parties

Performance & Remedies

CONTRACT LAW



Learning objectives l.jpg
Learning Objectives

  • Nature of contracts

  • Basic elements of a contract

  • Basic contract types

  • Sources of contract law

  • Non-contract obligations


Slide5 l.jpg

NATURE OF CONTRACTS

  • Not every promise is legally enforceable

  • But when a set of promises has the status of contract, a person injured by a breach of that contract is entitled to call on the government (courts) to force the breaching party to honor the contract

  • Contract law is ancient law, but has evolved to reflect social change


Elements of a contract l.jpg
ELEMENTS OF A CONTRACT

  • 1) AGREEMENT

  • 2) CONSIDERATION

  • 3) CAPACITY

  • 4) LAWFUL OBJECT



Sources of contract law l.jpg
SOURCES OF CONTRACT LAW

  • COMMON LAW

  • UNIFORM COMMERCIAL CODE

    (SALE OF GOODS ONLY)

  • CONVENTION ON THE INTERNATIONAL SALE OF GOODS (CISG)


Ucc sale of goods l.jpg
UCC: “SALE OF GOODS”

  • GOODS: tangible, movable, personal property

  • DOES NOT APPLY TO:

    • sale of services

    • intangible property (stocks, intellectual property)

    • real estate

  • MIXED SALE SITUATION: whether goods or services predominates in the contract

    (vs. “gravamen test” focuses on part of contract at issue)



Non contract duties l.jpg
NON-CONTRACT DUTIES

  • QUASI-CONTRACT

  • PROMISSORY ESTOPPEL

  • Hurdis Realty v. Town of North Providence

  • Holt v. Home Depot, U.S.A., Inc.


Four elements promissory estoppel l.jpg
FOUR ELEMENTS: PROMISSORY ESTOPPEL

  • 1) PROMISE

  • 2) REASONABLE RELIANCE

  • 3) ACTUAL RELIANCE

  • 4) INJUSTICE


Review contract and noncontract recovery l.jpg
REVIEW: CONTRACT AND NONCONTRACT RECOVERY