Business Law

• breeching of contract
• evidence: +50% 
• both sides can request a jury

where do you sue

• higher burden of proof
• government brings charge
• federal punishment is harsher than state

• can't fire someone because of:
• race
• religion
• national origin
• sex
• color
• age

• governs on how long you can sue somebody
• neglect (3 years)
• breech of contract (6 years)
• no limit on murders

• never get a jury
• they give you a lawyer if you can't afford one
• can pursue you in criminal court
• below 14 can be charged as an adult

brings up the law suit

person being sued

voluntary agreement which is binding upon the parties

person who makes the offer

person whom the offer is made

• 95%
• parties agree to specific terms

look at the behavior to see if there is an agreement

all the requirements of the contract have been done

all the requirements have not been concluded

• offeror will do something when the offeree does their part
• only accepted by performance
• must give a certain amount of time to react

• most contracts
• looking for a promise
• promise for a promise

• end up with a fair result
• implied by the law, avoid unjust enrichment
• they have to know they aren't entitled to

• offer
• acceptance
• consideration

• reflects a party present intention to enter into a contract
• reasonable standard

• not an offer
• haven't agreed to anything

• not a contract
• must communicate to the offeree about an offer
• offeror is the master of the offer
• only accept an offer you're aware of

• offeree rejects offer
• counter-offer
• changes a term
• death
• lapse of time
• if it becomes illegal
• revoked- until accepted

pay now for an act later on

when someone breeches a contract

can be enforced by either party

cannot be enforced by either party

one party has a right to get out of the contract if they want to

can affect a contract

• can't touch your retirement plan
• owing money to your spouse

offeree agrees to take the offer from the offeror

cannot be accepted

offeror can set conditions of the contract

• offeree
• as soon as you agree its done

• a thing of value given in exchange for a promise
• both parties must take on a burden
• has to be legal
• if you give an engagement ring, can get it back
• what you did in the past cannot be consideration

change the terms of the contract

• must be a promise
• must expect the person you make the promise to rely on
• the person must have acted
• would be unfair not to enforce the promise

• Age: don't have the ability to bind themselves to a contract
• 21: child support
• parents responsible for actions for kids under 18
• contracts by minors are voidable

• Mental Capacity: if you lack ability, it is not binded
• depends when you enter the contract
• court determines whether you have the capacity

Intoxication: voidable if drunk

• Mutual Mistake: both parties must be wrong about a material part of the contract
• value of something isn't part of the mutual mistake

• Fraud: misrepresentation of a material fact
• -must prove
• -must prove the listener relied on it
• -listener was harmend

Physical Duress: if a contract is completely unfair, court will not force it

when a minor gets out of a contract

entered a contract when you were a minor then become legal, you're bound to the contract

someone determined by the court to lack the ability to enter into a contract

• someone who makes decisions for you if you can't
• medical decisions and money too

can set reserved price (lowest price receiving)

someone user their influence on someone unfairly

charge someone an illegal amount of interest

• private loans: no more than 16%
• credit card: 25%

must be ran by state

• there must be:
• -a prize
• -consideration
• -chance at winning

a clearly wrong contract

• cannot be enforced because its against the law 
• its a defense
• it is void

both parties are guilty because its illegal

• you don't have to pay
• if you knew about it, you have to pay

• not to compete
• promise by one party to refrain from conducting business similar to another party's business for a certain period of time within a certain geographic region

• must be a reasonable amount of time
• must be a reasonable geographic area

written document by which one person gives another person the authority to act

gives the power

receives the power

contractional prevision that relieves one or two parties to a contract from tort liability of ordinary negligence

• Exceptions:
• landlords
• caterers
• public garages
• gyms

designed to compensate

designed to punish you and other from doing it

defense to a contract

• 3 things must be present:
• -if contract is in writing
• -if writing contains all the important facts
• -signed by the party

• Marriage
• Year
• Land
• Executor in a will
• Goods
• Surrety

• prenuptial agreement:
• -defines each parties ownership rights and the others properties
• -signed by rich people
• -both parties must represented by lawyers

if its over a year, governed by the statute of fraud

• contracts involving the sale of real property or the lease of property, governed by the statute of fraud
• if it involves land, doesn't matter the amount of time

condition in a contract that must be met to by one of the parties (buy house if sold house)

• wills
• in charge of giving out your property from your will
• a promise by the executor to pay any of the debts of the estate

sale of goods over $500

• someone primarily liable for the debt of another
• no price limitations

takes out of statute of frauds to the extent that the contract was performed

when a party transfers the rights under the contract

• not vaild if they increase the burden on the other party of the contract
• assignment must occur after the contract has been signed
• assignee can't be in a better position than the assignor

transfers their rights

personal who receives the transfer

making the promise

receiving the promise

• transferring your obligation under the contract
• transferring your duty to another party

transfers the obligation

takes on the obligation

• only applies to written contracts
• bans any oral or written words outside the written document

if contract is complete, nothing before matters

designed to give you certainty

• if its void, its admissible
• if it shows fraud/duress
• to explain unclear language in the contract
• to correct typographical error
• prove a contract modification that occurred after the making of the contract

• when parties enter a contract, they agree on what the damages will be
• based on certainty
• delivery with goods

requires people to take responsibility to limit their damages

• enter into a contract, one party breaches it, you want specific item not the money
• applies to unique items

• can't discriminate because of:
• age
• race
• color
• gender
• national origin
• religion

employer treats someone less favorable because of race/religion

when you don't discriminate on purpose