bus 263 class slides, march 4, 2014

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  • Chapter 9: Formation of Traditional and eContracts, cont'd cc licensed ( BY NC SA ) flickr photo by LOSINPUN: http://flic.kr/p/aNHv22
  • Contracts Contract? 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
  • 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 lvaro Canivell: http://flic.kr/p/34n54H
  • Definite terms Offeror Offeree Quantity Price Delivery Payment
  • No definite terms? Invitation to make offer
  • Objective Theory of Contracts Existence of a contract is based on what an objective 3d party would understand, not subjective intent of parties
  • objective?
  • subjective?
  • censed ( BY ) flickr photo by Dawn Huczek: ://flic.kr/p/5yXYaR
  • Objective evaluation? Weight Ingredients Freshness Shape Size Appearance Aroma
  • Subjective evaluation?
  • cc licensed ( BY SD ) flickr photo by Ernst Vikne: http://flic.kr/p/6iqQRZ
  • cc licensed ( BY NC SD ) flickr photo by jasoneppink: http://flic.kr/p/77A7PR
  • "objective standard"? "Reasonable person" "should know"
  • "subjective intent"? "that's not what I meant"
  • 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
  • consideration cc licensed ( BY NC SD ) flickr photo by GreenViking: http://flic.kr/p/aTxjvB
  • Gordon Bach case cc licensed ( BY NC SD ) flickr photo by bug138: http://flic.kr/p/ts888
  • Requirements for an offer?
  • Is the letter an offer or an invitation to make an offer?
  • censed ( BY ) flickr photo by Dawn Huczek: ://flic.kr/p/5yXYaR
  • If there was an offer, has it been accepted?
  • Dates? Action Offer Acceptance Revocation Sent Recd Effective
  • Dates? Action Sent Recd Offer Feb 1 Feb 3 Acceptance Revocation Effective
  • Dates? Action Sent Recd Offer Feb 1 Feb 3 Acceptance Feb 3 Feb 6 Revocation Effective
  • Dates? Action Sent Recd Offer Feb 1 Feb 3 Acceptance Feb 3 Feb 6 Revocation Feb 2 Feb 5 Effective
  • mailbox rule icensed ( BY NC ) flickr photo by Indiana Public Media: p://flic.kr/p/8vqJgq
  • Dates Action Sent Recd Effective Offer Feb 1 Feb 3 Feb 3 Acceptance Feb 3 Feb 6 Feb 3 Revocation Feb 2 Feb 5 Feb 5
  • If correspondence had been by email. Would there be a contract? Phone? Text?
  • How could Bach prevent this kind of confusion about acceptance & revocation?