Elements of a contract

  • proximate cause - to be liable, this type of harm must have been forseeable
  • injury - no injury no case for compensation
  • assumption of the risk
    • a person who voluntarily enters a situation that has an obvious danger cannot complain if she is injured
    • this rule applies to a situation where the danger is well-known and the participant chooses to be present
  • strict liability
  • some activities are so dangerous that the law imposes a high burden on them. This is called strict liability
  • defective products - may incur strict liability
  • ultra hazardous activities - defendants are virtually always liable to harm
  • what is ultrahazardous? - includes using harmful chemicals, explosives and keeping wild animals
  • plantiff does not have to prove a breach of duty or foreseeable harm
  • introduction to contracts
  • contracts exist to make business matter more predictable
  • agreement - make a valid offer
  • consideration - bargaining that leads to an exchange between parties
  • legality - the contract must be for a lawful purpose
  • capacity - the parties must be adults of sound mind
  • bilateral contract - both parties makes a promise to each other
  • unilateral - one party makes a promise to the other that by doing something specific
  • express contract - 2 parties to the contract explicitly state all the important terms
  • implied: the words and conduct of the patties intended to make an agreement
  • any 6 cases in the book execatory and esecuted contracts
  • executory: when one or more parties has not fulfilled its obligations under the contract
  • executed : when all parties to the contract fullflled their obligations under the contract

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