CONTRACTS

Part 1

Definition: A Contract is a promise or a set of promises, performance of which grants a remedy, breach of which imposes a liability.

Requirements of an express enforceable contract:

1. Objective manifestation of subjective intent (The Agreement) Click
2. Consideration Click
3. Legality
4. Capacity
(5.) A writing (required of some contracts)

Classifications of contracts
1. Unilateral v. Bilateral
2. Express v. Implied
3. Void v. Voidable v. Valid
4. Executory v. Executed

Remedies:

1. Damages
2. Specific Performance
3. Rescission and Restitution
4. Reformation
5. Quasi-contractual remedies

Go to cases