User:Jukeboksi/BBA studies/Law: Difference between revisions
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=== About contracts === | === About contracts === | ||
In [[w:common law|common law]] legal systems, a '''[[w:contract|contract]]''' is an agreement having a lawful object entered into voluntarily by two or more [[w:party (law)|parties]], each of whom intends to create one or more legal obligations between them. | In '''[[w:common law|common law]]''' ( [[w:fi:tapaoikeus]] ) legal systems, a '''[[w:contract|contract]]''' is an agreement having a lawful object entered into voluntarily by two or more [[w:party (law)|parties]], each of whom intends to create one or more legal obligations between them. | ||
::The elements of a contract are "offer" and "acceptance" by "competent persons" having [[w:legal capacity|legal capacity]] who exchange '''[[w:consideration|consideration]]''' to create "mutuality of obligation." ( Wikipedia ) | ::The elements of a contract are "offer" and "acceptance" by "competent persons" having [[w:legal capacity|legal capacity]] who exchange '''[[w:consideration|consideration]]''' to create "mutuality of obligation." ( Wikipedia ) | ||
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* A '''[[w:counter offer|counter offer]]''' is regarded by law to be a '''rejection''' of the original offer. | * A '''[[w:counter offer|counter offer]]''' is regarded by law to be a '''rejection''' of the original offer. | ||
* '''[[w:Express contract|Express contract]]''' vs. '''[[w:Implied-in-fact contract| | * '''[[w:Express contract|Express contract]]''' vs. '''[[w:Implied-in-fact contract|Implied-in-fact contract]] or implicit contract''' | ||
A '''[[w:third party beneficiary|third party beneficiary]]''', in the [[w:law|law]] of [[w:contract|contract]]s, is a person who may have the right to sue on a contract, despite not having originally been an active [[w:party (law)|party]] to the contract. ( Wikipedia ) | A '''[[w:third party beneficiary|third party beneficiary]]''' ( [[w:fi:Kolmas osapuoli]] ), in the [[w:law|law]] of [[w:contract|contract]]s, is a person who may have the right to sue on a contract, despite not having originally been an active [[w:party (law)|party]] to the contract. ( Wikipedia ) | ||
An [[w:unenforceable|unenforceable]] contract or transaction is one that is valid, but which the court will not enforce. ( Wikipedia ) | An [[w:unenforceable|unenforceable]] contract or transaction is one that is valid, but which the court will not enforce. ( Wikipedia ) | ||