-meeting of the minds?

-subjective

-how did they act

-what did they do?

-did they have a real deal?

COURTS DONT MAKE CONTRACTS, PEOPLE DO

Uniform Commerical Code

-created in 1942

-general laws; covered sales

-bank collections

-warehouse receipts

-dealt with sale of goods

-simplified contract laws

-legally enforcable agreement containing one or more promises

-notion of promises

-not every promise is a contact

-only those that are enforable by law are contracts

1. an agreement
2. competent partners
3. based on genuine assent
4. supported by consideration
5. does not contravene principles of law
6. must be in writing in certain circumstances 

-expression of the parties' willing ness to be bound to terms of the contract

-genuine consent

consideration

-essential that both parties show this

-that what is bargained and given in exchange

-both parties promise

-promise for a promise

-enforcable

-meets all necessary contractial requirements

-no contract

- cannot be enforced in court

- the one who makes the offer

• can make the terms of the contract, doesn’t have to be reasonable

 - proposal to make a contract

-promise conditional on a return promise or act

-the return promise or act is the acceptance of the offer

- any unlawful constraint exercised on people that forces their consent to an agreement that they would not otherwise have made

-needs:

1.coercion

2.Causing a loss of free will

3.resulting in a consent to be bound by a contract

- results when will of a dominant person is substitutes for that of the other party

-usually found where there is a confidential relationship that is used to create an unfair bargain

- covers all intentional acts of deception used by a person to gain advantage over another

Essential elements of fraud:

1. Misstatement of a material fact
2. Made with the knowledge of its falsity or in reckless disregard of its truth or falsity

1. With the intention to deceive

1. Inducing reliance by the other party

1. Results or will result in injury to the other party

- when a party misrepresents a material fact (even on accident) and the other party in the contract relies on it

-party who was deceived has the right of recission

- in the legal sense means the receipt by the promisor of some legal right to which the person ahd not been previously been entitled

- is the taking on of a legal obligation or the doing of something  or giving up of a legal right by the promisee