Post on 29-Dec-2015
CONTRACT LAW
CONTRACT LAW• Promissory agreement
between two or more persons that creates, modifies, or destroys a legal relation.
• Legally enforceable promise to do or not to do something.
• Offer and acceptance (Quid Pro Quo)
• Oral contract is legally binding.
ELEMENTS OF CONTRACT“VALID CONTRACT”
• Mutual assent (Clear understanding)
• Promise or considerations
• Two or more parties of competent legal capacity
• Agreement must be a lawful act and cannot be against public policy
BREACH OF CONTRACT• Unjustified failure to
perform the terms of the contract as agreed upon or when performance is due.
• 3 Remedies• Money Damages• Specific Performance• Injunction
CLASSIFICATION OF CONTRACTS
• Expressed: agreement (oral or written)
• Implied: action or inaction without verbalization of terms
CONTRACTS AND
PATIENTS
CONTRACTS WITH
EMPLOYEES