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Business Law Review

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Issue:

Business

 

Written by:

Ada C

 

Date added:

November 7, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

2 / 360

 

Was viewed:

6862 times

 

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Essay content:

When oral real-estate contracts are used, if in fact they are used, a person can not be sued for breaching a contract but a person can sometimes get the value of time spent and expenses in money but not the price of land; known as quantum valuit. In the contract, terms will be expected. The specific for terms that should be expected in the contract are legality, capacity, consideration, and agreement...
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The specific for terms that should be expected in the contract are legality, capacity, consideration, and agreement. Legality should be presumed. Capacity should be presumed, meaning a person must be over the age of 18 and one month and have mental capacity. Consideration is not presumed but should be known; both parties must understand that they need to both give up something with out necessarily getting something in return...
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