Sales contracts: Rights, duties, title and risk of loss and the nature of negotiable instruments Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 16-1. The Essentials of Negotiable Instruments The law of negotiable instruments is found in Article 3 of the UCC. Under the UCC, a…
Sales contracts: Rights, duties, title and risk of loss and the nature of negotiable instruments Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 14-1. Rights and Duties of the Parties Sellers and buyers must follow the terms of their contract and act in good faith. Tender…
Assignments, discharge, remedies and sales contract formation Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 13-1. The Sale and Lease of Goods The Uniform Commercial Code (UCC), which contains the law of sales, has been adopted, either in whole or in part, by every state in…
Assignments, discharge, remedies and sales contract formation Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 12-1. Contracts and Third Parties Third parties are at times given benefits through a contract made between two other parties. Some contracts are made specifically to benefit a third party. Such…
Contractual elements: Capacity, legality and written contracts Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 11-1. The Statute of Frauds The Statutes of Frauds outlines six types of contracts that must be in writing to be enforceable. These include contracts that cannot be completed within one…
Contractual elements: Capacity, legality and written contracts Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 10-1. The Final Elements The third element essential to a legally effective contract is the legal ability to enter into a contractual relationship. This legal ability is known as capacity. Under…
Contractual elements: Offer, acceptance, mutual assent and consideration Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Describe the issues involved in cyber-payments Major Concepts 9-1 Requirements of Consideration The fifth element necessary to any valid contract is consideration. Consideration is the mutual exchange or promise to exchange benefits…
Contractual elements: Offer, acceptance, mutual assent and consideration Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 8-1 Mutual Assent and the Offer If certain requirements are met, the court will conclude that the parties intended to make and accept an offer. Mutual assent is created when…
Tort law and the essential elements of contracts Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 1. The History of Contract Law With the Roman law providing a model, the Roman Catholic Church supplying political and social support, canon law supplying a moral framework, and practicality…
Tort law and the essential elements of contracts Learning Objectives After reading this chapter, students should be able to accomplish the following objectives: Major Concepts 6-1 Tort Law Defined A tort is a private wrong that injures another person’s physical well-being, emotional health, property, or reputation. A person who commits a tort is called a…
