Introduction to Contracts

Chapter 9 Introduction to Contracts

Business Law and the Regulation of Business, 13th Edition, Richard A. Mann and Barry S. Roberts, CENGAGE Learning, ISBN: 9780357209493.

Don't use plagiarized sources. Get Your Custom Essay on
Introduction to Contracts
Just from $13/Page
Order Essay

Discus what is contracts and the main contracts


Contract = KK = Legally enforceable binding agreement between 2 or more parties


Main Types of Contracts

  1. Unilateral Contract:1. One party makes a promise + 2. the other party accepts by actual performance.
  2. Bilateral Contract:1. Both parties make promises +2. Acceptance is also by promise(s)
  3. Valid contract = Meet all the legal requirements of contract.
  4. Unenforceable Contract:1. Parties intended to have a K, but +2. failed to meet at least 1 legal requirements of a valid K.
  5. Voidable Contract = 1 party may legitimately cancels the K.
  6. Promissory Estoppel:1. Defendant (∆) made a promise that Plaintiff (╥) would likely to reply upon +2. ╥ actually relied upon ∆’s promise +3. This is one of the ways to avoid injustice
  7. 7. Quasi Contract:1. ╥ gave a benefit to ∆ +2. ╥ was expected to be compensated for such a benefit rendered to the ∆ +3. ∆ would be unjustly enriched
  8. Unconscionable Contract:1. Terms of the contract are extremely unfair and +2. Terms favor only one party

.Unconscionable K = Illegal K




Homework Writing Bay

Calculate the price of your paper

Total price:$26
Our features

We've got everything to become your favourite writing service

Need a better grade?
We've got you covered.

Order your paper