bus 263 class slides, march 4, 2014

34
Chapter 9: Formation of Traditional and e- Contracts, cont'd cc licensed ( BY NC SA ) flickr photo by LOSINPUN: http://flic.kr/p/aNHv22

Upload: tedmajor

Post on 23-Aug-2014

955 views

Category:

Education


1 download

DESCRIPTION

 

TRANSCRIPT

Page 1: BUS 263 class slides, March 4, 2014

Chapter 9:

Formation of

Traditional and e-

Contracts, cont'd

cc licensed ( BY NC SA ) flickr photo by LOSINPUN: http://flic.kr/p/aNHv22

Page 2: BUS 263 class slides, March 4, 2014

• 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

• 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

Contracts

Page 3: BUS 263 class slides, March 4, 2014

cc licensed ( BY NC SA ) flickr photo by Pierre J.: http://flic.kr/p/5CMRKY

elements of a contract?

Page 4: BUS 263 class slides, March 4, 2014

cc licensed ( BY NC SA ) flickr photo by Álvaro Canivell: http://flic.kr/p/34n54H

agreement

• offer • acceptance

Page 5: BUS 263 class slides, March 4, 2014
Page 6: BUS 263 class slides, March 4, 2014

Definite terms

• Offeror

• Offeree

• Quantity

• Price

• Delivery

• Payment

Page 7: BUS 263 class slides, March 4, 2014

No definite terms?

Invitation to make offer

Page 8: BUS 263 class slides, March 4, 2014

Objective Theory of Contracts

• Existence of a contract is based on what an objective 3d party would understand, not subjective intent of parties

Page 9: BUS 263 class slides, March 4, 2014

objective?

Page 10: BUS 263 class slides, March 4, 2014

subjective?

Page 11: BUS 263 class slides, March 4, 2014

cc licensed ( BY ) flickr photo by Dawn Huczek: http://flic.kr/p/5yXYaR

Page 12: BUS 263 class slides, March 4, 2014

Objective evaluation?

• Weight

• Ingredients

• Freshness

• Shape

• Size

• Appearance

• Aroma

Page 13: BUS 263 class slides, March 4, 2014

Subjective evaluation?

Page 14: BUS 263 class slides, March 4, 2014

cc licensed ( BY SD ) flickr photo by Ernst Vikne: http://flic.kr/p/6iqQRZ

Page 15: BUS 263 class slides, March 4, 2014

cc licensed ( BY NC SD ) flickr photo by jasoneppink: http://flic.kr/p/77A7PR

Page 16: BUS 263 class slides, March 4, 2014

"objective standard"?

• "Reasonable person"

• "should know"

Page 17: BUS 263 class slides, March 4, 2014

"subjective intent"?

• "that's not what I meant"

Page 18: BUS 263 class slides, March 4, 2014

cc licensed ( BY NC ) flickr photo by Dennis Gotta:

http://flic.kr/p/6aXDU3

contractual capacity

Page 19: BUS 263 class slides, March 4, 2014

© TomT, http://flic.kr/p/5VDVhf

legal subject matter

Page 20: BUS 263 class slides, March 4, 2014

cc licensed ( BY NC SA ) flickr photo by

daikiki: http://flic.kr/p/6MVs3i

Statute of Frauds

Page 21: BUS 263 class slides, March 4, 2014

cc licensed ( BY NC SD ) flickr photo by GreenViking: http://flic.kr/p/aTxjvB

consideration

Page 22: BUS 263 class slides, March 4, 2014

Gordon Bach case

cc licensed ( BY NC SD ) flickr photo by bug138: http://flic.kr/p/ts888

Page 23: BUS 263 class slides, March 4, 2014

Requirements for an offer?

Page 24: BUS 263 class slides, March 4, 2014

Is the letter an offer or an invitation to make an offer?

Page 25: BUS 263 class slides, March 4, 2014

cc licensed ( BY ) flickr photo by Dawn Huczek: http://flic.kr/p/5yXYaR

Page 26: BUS 263 class slides, March 4, 2014

If there was an offer, has it been accepted?

Page 27: BUS 263 class slides, March 4, 2014

Dates?

Action Sent Rec’d Effective

Offer

Acceptance

Revocation

Page 28: BUS 263 class slides, March 4, 2014

Dates?

Action Sent Rec’d Effective

Offer Feb 1 Feb 3

Acceptance

Revocation

Page 29: BUS 263 class slides, March 4, 2014

Dates?

Action Sent Rec’d Effective

Offer Feb 1 Feb 3

Acceptance Feb 3 Feb 6

Revocation

Page 30: BUS 263 class slides, March 4, 2014

Dates?

Action Sent Rec’d Effective

Offer Feb 1 Feb 3

Acceptance Feb 3 Feb 6

Revocation Feb 2 Feb 5

Page 31: BUS 263 class slides, March 4, 2014

cc licensed ( BY NC ) flickr photo by Indiana Public Media: http://flic.kr/p/8vqJgq

mailbox rule

Page 32: BUS 263 class slides, March 4, 2014

Dates

Action Sent Rec’d Effective

Offer Feb 1 Feb 3 Feb 3

Acceptance Feb 3 Feb 6 Feb 3

Revocation Feb 2 Feb 5 Feb 5

Page 33: BUS 263 class slides, March 4, 2014

If correspondence had been by email. Would there be a contract?

Phone? Text?

Page 34: BUS 263 class slides, March 4, 2014

How could Bach prevent this kind of confusion about acceptance &

revocation?