5.1 b a c kn e x t h o m e Chapter 5 Objectives  Describe what a contract is and how it differs from an agreement.  List the different types of contracts.

Slides:



Advertisements
Similar presentations
1 Chapter Outline 1. The Function of Contract Law 2. Definition of a Contract 3. Elements of a Contract 4. Types of Contracts 5. Interpretation of Contracts11.
Advertisements

The Essentials of Contract Law
Chapter 13 Proper Form. Must Contracts Be In Any Special Form? b Unless a particular form is required by statue, contracts may be oral or written.
Chapter 6 Overview and Language of Contracts
Thomson/South-Western©2008 Chapter 7 Contract Law _______________________________________.
How Contracts Arise Chapter 5.
Characteristics of a Contract
© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
Chapter 11 Formation of Traditional And Online Contracts
Chapter 7 Contracts: Classification, Agreement, and Consideration
© OnCourse Learning Chapter 7 : Contract Law. © OnCourse Learning A legally enforceable agreement to do (or not to do) a particular thing.
© 2004 West Legal Studies in Business A Division of Thomson Learning 1 Chapter 9 Contracts: Nature and Terminology Chapter 9 Contracts: Nature and Terminology.
Business Law II Professor Pamela Gershuny Fall 2011.
©2005 by West Legal Studies in Business A Division of Thomson Learning Fundamentals of Business Law 6 th Edition Chapter 7 Contracts: Nature and Classification.
44.1 b a c kn e x t h o m e Chapter 44 Objectives  Explain the nature and formation of the landlord/tenant relationship.  Name the various types of tenancies.
A General Introduction to Contract. Definition of a contract A contract is an agreement between competent parties based on the genuine assent of the parties,
LAW for Business and Personal Use © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible.
Rights and Duties of the Funeral Director Sources of Duties 1)Laws and Regulations 2)Common Law 3)Funeral Contract.
South-Western Publishing©2002 By Charles J. Jacobus Real Estate Principles Ninth Edition Real Estate: An Introduction to the Profession Ninth Edition South-Western.
© 2010 by Cengage Learning Chapter 7 ________________ Contract Law.
35.1 b a c kn e x t h o m e Chapter 35 Objectives  Define capital stock.  List the various types of stock and stock rights.  Explain what dividends.
45.1 b a c kn e x t h o m e Chapter 45 Objectives Describe a will, its characteristics, and the limitations on disposition of property. Explain formalities.
9.1 b a c kn e x t h o m e Chapter 9 Objectives  Describe the mistakes that do not invalidate a contract.  State what types of mistakes normally invalidate.
Section 4.1 Agreements and Contracts Section 4.1 Agreements and Contracts A contract is any agreement enforceable by law.
The Purpose of a Contract ◙ Contracts exist to make business matters more predictable. ◙ Judicial Activism vs. Judicial Restraint Judicial restraint makes.
Chapter 1: Legal Ethics 1. © 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use.
Law for Business, 15e by Ashcroft Chapter 5: Nature and Classes of Contracts Law for Business, 15e, by Ashcroft, © 2005 West Legal Studies in Business,
37.1 b a c kn e x t h o m e Chapter 37 Objectives Identify important terms used in insurance. Explain who may obtain insurance. List the five aspects of.
Introduction to Contracts Chapter 8. Definition of Contract A contract is a promise or a set of promises for the breach of which the law gives a remedy.
Contract Law: A Beginning CHAPTER SIX. 6 | 2 Copyright © Houghton Mifflin Company. All rights reserved. What a Contract Is A contract is a legally enforceable.
Fundamentals of Business Law Summarized Cases, 8 th Ed., and Excerpted Cases, 2 nd Ed. ROGER LeROY MILLER Institute for University Studies Arlington, Texas.
© 2007 West Legal Studies in Business, A Division of Thomson Learning Chapter 7 Contracts: Nature and Classification.
© 2004 West Legal Studies in Business A Division of Thomson Learning BUSINESS LAW Twomey Jennings 1 st Ed. Twomey & Jennings BUSINESS LAW Chapter 12 Nature.
McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 8 Introduction to Contracts and Agreement.
© 2012 Cengage Learning. Contract Law Chapter 7 © 2012 Cengage Learning In This Chapter You will be introduced to contract law and how a contract is.
Chapter 111 Parties to a Contract Promisor (Obligor) Promisee (Obligee) InsurerInsured ShipperCarrier Landlord (Lessor) Tenant (Lessee) VendorVendee General.
Comprehensive Volume, 18 th Edition Chapter 12: Nature and Classes of Contracts: Contracting on the Internet.
INTRODUCTION When the word “contract” is mentioned, there is a tendency for many people to see this as some form of formal written document. When asked.
©OnCourse Learning. All Rights Reserved.. Contract Law ©OnCourse Learning. All Rights Reserved. Chapter 7.
13.1 b a c kn e x t h o m e Chapter 13 Objectives u Describe the requirements for terminating a contract by performance. u Recognize the circumstances.
19.1 b a c kn e x t h o m e Chapter 19 Objectives  Define a warranty, and distinguish between express and implied warranties.  Specify the warranties.
11.1 b a c kn e x t h o m e © 2002 West Educational PublishingTo accompany Law for Business, 14e, by Ashcroft and Ashcroft Chapter 11 Objectives  Identify.
2.1 b a c kn e x t h o m e Chapter 2 Objectives  Explain the function of the courts.  Explain the relationships of the various courts in our society.
CONTRACTS Chapter 9 Introduction to Contracts. CONTRACTS A AGREEMENT between two or more persons the PERFORMANCE of which the law considers to be an OBLIGATION.
16.1 b a c kn e x t h o m e Chapter 16 Objectives  Define “goods.”  Define a “sale” of goods and distinguish it from a contract to sell.  Distinguish.
31.1 b a c kn e x t h o m e Chapter 31 Objectives  Discuss the differences in setting up a sole proprietorship, a partnership, and a corporation.  Explain.
By Richard A. Mann & Barry S. Roberts
McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 6 Overview and Formation of Contracts.
39.1 b a c kn e x t h o m e Chapter 39 Objectives  State the general nature of contracts of guaranty or suretyship.  Identify ways contracts of guaranty.
© South-Western Educational Publishing GOALS LESSON 2.1 CONTRACT LAW FOUNDATIONS  Know the six essential elements of a legally enforceable contract 
CHAPTER 5 Contracts. Contract- is any agreement enforceable by law Offer- is a proposal by one party to another intended to create a legally binding agreement.
Chapter 10 Contracts: Nature and Terminology BUSINESS LAW: Text & Cases — Legal, Ethical, International, and E-Commerce Environment11 th Ed. BUSINESS LAW:
Chapter 5—Section 1 Contracts I.Understanding Contract Law A. Formal documents that you sign when buying or selling a home, buying a vehicle, or purchasing.
Contracts Lesson One. Learning Objectives Understand expressed and implied contracts. Review the parties to contracts. Become familiar with Bilateral.
2011©Cengage Learning. All Rights Reserved.. Contracts and Damages 2011©Cengage Learning. All Rights Reserved.
7.1 b a c kn e x t h o m e Chapter 7 Objectives  Identify classifications of individuals who may not have the capacity to contract.  Define disaffirmance.
42.1 b a c kn e x t h o m e Chapter 42 Objectives  Describe the means by which title to real estate is transferred.  Explain the provisions normally.
18.1 b a c kn e x t h o m e Chapter 18 Objectives u Explain the importance of determining when title and risk of loss pass. u Distinguish between a sale.
CHAPTER 9 INTRODUCTION TO CONTRACT LAW AND CONTRACT THEORY DAVIDSON, KNOWLES & FORSYTHE Business Law: Cases and Principles in the Legal Environment (8.
Chapter 13 Introduction to Contracts McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
Business Law with UCC Applications,13e The Essentials of Contract Law Chapter 7 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All.
12.1 b a c kn e x t h o m e Chapter 12 Objectives  Discuss the difference between a third- party beneficiary contract and a novation.  Explain the difference.
Introduction to Contracts Lakeshore Technical College by Richard Opie.
Copyright © 2010 South-Western Legal Studies in Business, a part of South-Western Cengage Learning. and the Legal Environment, 10 th edition by Richard.
CONTRACT 1872 Applies to whole of India except J & K.
Chapter 10 Contracts: Nature and Terminology
Gary Nelson Covering chapter 7 in the text.
The Nature of a Contract
Chapter 11: Nature and Terminology
Chapter 10 Contracts: Nature and Terminology
Presentation transcript:

5.1 b a c kn e x t h o m e Chapter 5 Objectives  Describe what a contract is and how it differs from an agreement.  List the different types of contracts.  State the five requirements for a valid contract. © 2002 West Educational PublishingTo accompany Law for Business, 14e, by Ashcroft and Ashcroft Contract

5.2 b a c kn e x t h o m e Contracts  Is every contract an agreement?  Is every agreement a contract?  Give examples of agreement that are not contracts.  What are five requirements for a valid contract?  What is the difference between a void agreement and an unenforceable contract? Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss Let’s Discuss

5.3 b a c kn e x t h o m e Types of Contracts Express and implied Executory and executed Unilateral and bilateral Formal and simple Quasi contract

5.4 b a c kn e x t h o m e Contracts: True or False  A valid contract can be oral as well as written.  True  A formal contract is created in a particular form.  True  An executory contract has been fully performed by all parties.  False  Most contracts provide a clause in which one party can receive unjust enrichment.  False Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz Quick Quiz

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.