Blaw 2 - Lecture notes 2 PDF

Title Blaw 2 - Lecture notes 2
Course Business Law 201
Institution Washington State University
Pages 4
File Size 29.2 KB
File Type PDF
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lecture notes ...


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Cont r act Anagr eementbet weent woormor epar t i est hati sl egal l yenf or ceabl e Cont r actLaw St at ecommonl aw Expr essCont r act Thet er msar eunder st oodbywr i t t enoror alwor ds.Eachi nst anceoft het er msi sagr eed upon I mpl i edCont r act I nf er r edbyact i ons. Onceal ongt er mr el at i onshi phasbeenest abl i shedandasy st em i si npl ace,conduct wi l l cont i nueunt i lcancel l ed.Affir mat i v econductwi l l endt hecont r act Val i dCont r act Cont ai nsal l oft heel ement sofacont r actandi senf or ceabl ebyei t herpar t y Voi dCont r act I sunenf or ceabl ebyei t herpar t y Voi dabl eCont r act Av al i dcont r act ,butcanbedi saffir medbyoneorbot hoft hepar t i es Uni l at er alCont r act Canonl ybeaccept edbyt heoffer ee' sact i on Bi l at er alAgr eement Pr omi sef orapr omi se I nt ent Det er mi ni ngf act ort owhet heracont r acthasbeenf or med Offer Pr omi set odoorr ef r ai nf r om doi ngaspeci ficact Ter mi nat i nganOffer Rej ect i on,count er offer ,l apseoft i me,oper at i onofl aw Revocat i on Offer orcommuni cat eswi t hdr awalbef or ei t saccept ed Opt i onCont r act Keepanofferopenf orasetper i odoft i mepr ovi dedconsi der at i onhasbeenpai d Consi der at i on Legalv al uegi v enbybot hsi dest oacont r act Capaci t y Apar t yt hathast heabi l i t yt ounder st andt heagr eementt heyar eent er i ngi nt o Expr essRat i ficat i on Ami norst at esani nt entt ocompl ywi t ht hecont r act I mpl i edRat i ficat i on Ami norcont i nuest oactundert hecont r actaf t err eachi ngt heageofmaj or i t y Legal i t y Acont r actmustbel awf ulf ort hecont act st obeval i d Adhesi onCont r act Whenpar t i eshav eunequalbar gai ni ngpowerandt heonewi t ht hegr eat erpowerwi l l notal l owt heonewi t hl esserpowert onegot i at et het er ms Ex cul pat or yAgr eement

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Ar emedyt hatcal l supont heper f or manceoft heacti nt hecont r actt obecar r i edout . Thi soccur si ncaseswher et heconsi der at i oni sconsi der eduni que,scar ce,ornot av ai l abl ei ncont r act sf orper sonalser vi ces Ref or mat i on Al l owsacont r actt ober ewr i t t ent or eflectt hepar t i es' t r uei nt ent i ons Pr omi ssor yest oppel Equi t abl er el i efasar emedywhenoneoft hepar t i esr el yt ohi sdet r i mentonst at ement s madebyt heot her ,butt her ei snocont r actest abl i shed Quasi cont r act Usedi nor dert opr eventunj ustenr i chment Ar t i cl e2ofUni f or m Commer ci alCode( UCC) Expr essl yappl i est ot hecont r act i ngf orsal eofgoods Sour cesofGover ni ngLaw UCCandt hecommonl awofcont r act s Uni t edNat i onsConvent i onofCont r act sf ort heSal eofGoods( CI SG) Acompi l at i onofcont r actr ul esf r om var i ousnat i onst hatt heconvent i onagr eed Expr essWar r ant y Wr i t t enorv er balguar ant eet hatapr oductwi l l meetacer t ai nl ev el ofqual i t yand r el i abi l i t y I mpl i edWar r ant y Pr ovi dedbyst at ut eorcust om Real Pr oper t y Land,t hi ngat t achedt ol and( t r ees,pl ant s) ,abovet hel and,andbel owt hel and Fi xt ur es Per sonal pr oper t yt hathasbecomeaffix edt ot her ealest at e,becomesapar tofi tand mustbet r ansf er r edwi t hi t Tr ansf erofRealEst at e Real est at ecanbegi venaway ,t r ansf er r edt hr oughi nher i t ance,r epossessed,orsol d FeeSi mpl e Ri ghtt oexc l usi vepossessi onofapar cel ofl andf orani ndefini t et i me,r i ghtt odi sposeof l andast heownerchooses TenancyI nCommon I nt er estt hatpassest ot heest at eofeachowneruponone' sdeat h Joi ntTenancy Owner shi ppassest ot heot herownerupondeat h Condomi ni um Feesi mpl eest at ei napor t i onofabui l di ngt hati sownedi ncommonwi t hot herowner s Cooper at i ve Bui l di ngownedbyacor por at i onwher et heoccupant sownshar ei nst ock Easement s Ri ghtt ousesomeoneel s e' spr oper t yf oraspeci ficpur pose Rest r i ct i v eCov enant s Pr i v at er est r i ct i onsonpr oper t y Zoni ng Li mi twhi cht ypesofpr oper t ymaybel ocat edwher e

Envi r onment al Laws Rest r i ct i onsonpr oper t yt opr ot ectnat ur al r esour cesandt heheal t hoft hepubl i c Emi nentDomai n Al l owst hegov er nmentt ot ak epr i vat epr oper t yf orpubl i cpur pose.Forex ampl e,l andf or school s,par ks ,hi ghway s,et c Leases Ter msar esetf ort enant ,byt hel andl or d Commer ci al Leases Ver yheavi l ynegot i at ed.Dependsont hepr oper t y ,l ocat i on,andt heeconomy Per sonal Pr oper t y I t emst hatcanbemoved Conver si on Depr i v i ngt heownert heuseofhi s/ herpr oper t y Bai l ment Cont r actr el at i onshi pwher eani ndi vi dualt r ansf er sper sonalpr oper t yt oanot her i ndi vi dualf orat empor ar yspeci fiedper i odoft i me...


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