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    SLSHandbook-Contract Law

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    Abdullah Salisu Gambo
    The document discusses the basics of contract law. A valid contract requires an offer, acceptance, consideration, and agreement to terms. Minors can enter contracts but they may not always be enforceable against the minor. Oral contracts are valid in some circumstances but can be difficult to prove. Before signing a contract, one should read it thoroughly, not sign blank contracts, keep a copy, and consider having a lawyer review it if terms are unclear. Most contracts are binding but some like those involving fraud or illegality can potentially be cancelled.

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    © All Rights Reserved
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    SLSHandbook-Contract Law

    Uploaded by

    Abdullah Salisu Gambo
    51 views2 pages
    The document discusses the basics of contract law. A valid contract requires an offer, acceptance, consideration, and agreement to terms. Minors can enter contracts but they may not always be enforceable against the minor. Oral contracts are valid in some circumstances but can be difficult to prove. Before signing a contract, one should read it thoroughly, not sign blank contracts, keep a copy, and consider having a lawyer review it if terms are unclear. Most contracts are binding but some like those involving fraud or illegality can potentially be cancelled.

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    SLSHandbook-Contract_Law

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    The document discusses the basics of contract law. A valid contract requires an offer, acceptance, consideration, and agreement to terms. Minors can enter contracts but they may not always be enforceable against the minor. Oral contracts are valid in some circumstances but can be difficult to prove. Before signing a contract, one should read it thoroughly, not sign blank contracts, keep a copy, and consider having a lawyer review it if terms are unclear. Most contracts are binding but some like those involving fraud or illegality can potentially be cancelled.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    51 views2 pages

    SLSHandbook-Contract Law

    Uploaded by

    Abdullah Salisu Gambo
    The document discusses the basics of contract law. A valid contract requires an offer, acceptance, consideration, and agreement to terms. Minors can enter contracts but they may not always be enforceable against the minor. Oral contracts are valid in some circumstances but can be difficult to prove. Before signing a contract, one should read it thoroughly, not sign blank contracts, keep a copy, and consider having a lawyer review it if terms are unclear. Most contracts are binding but some like those involving fraud or illegality can potentially be cancelled.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    CONTRACT LAW

    This section discusses the basics of contract law, and addresses a few things to consider before
    signing a contract.

    REQUIREMENTS FOR A CONTRACT


    A valid contract is a legally binding agreement and is enforceable in court by and against the
    contracting parties. In order for a contract to be valid, there must be an offer, an acceptance of
    the offer, an exchange between the parties of something of value, and an agreement to the terms.

    Under California law, anyone is capable of entering into a contract, except for persons deprived
    of civil rights (e.g., prisoners) and persons of unsound mind. A party is considered “of unsound
    mind” if he or she is intoxicated or is suffering from a mental illness that prevents the party from
    understanding what he or she is doing.

    Minors (persons under 18) are with some exceptions permitted to enter into a contract in the
    same manner as adults. However, contracts cannot always be enforced against minors by the
    other party or parties. As a result, it is permissible for someone to refuse to enter into a contract
    with a minor.

    ORAL CONTRACTS
    Contracts that are made orally are enforceable under certain circumstances, but are problematic
    even where permissible. If the parties to the contract remember the agreement differently, it can
    be difficult if not impossible for a party to prove what the actual agreement was. Some types of
    contracts can never be made orally, including contracts lasting more than one year, contracts for
    the sale of goods worth more than $500, contracts for the purchase and sale of real property, and
    contracts to be co-signed.

    BEFORE YOU SIGN A CONTRACT


    Read it, read it, READ IT! You should read a contract as many times as required for you to be
    certain that you understand it. Do not sign a contract without first understanding its contents and
    consequences. You may want to request that an attorney review a contract with you before you
    sign it, especially if the rights and responsibilities of the parties to the agreement are not clear to
    you.

    You should not sign a contract that has blank spaces left to be filled. Some contracts are forms
    that look like a worksheet, with blank spaces for terms relating to quantity, price, or other details.
    Do not sign a contract unless all spaces have been fully completed.

    You should always keep a copy of any contract that you sign. This is the best way for you to
    provide evidence of its existence and terms.
    CANCELING A CONTRACT
    Most contracts are legally binding. You should assume that you will be bound by the contract
    and that you will not be able to simply “get out of it.”

    There are some extraordinary circumstances in which it may be possible to cancel a contract.
    Some examples of contracts that may be cancelled include those that involve fraud or that
    require someone to do something illegal.

    Getting Help

    General Legal
    Student Legal Services, 858.534.4374 or http://sls.ucsd.edu

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