Since America's law is based many times on the Old English Common Law, access the following web site to study contract law:

http://www.duhaime.org/ca-conl.htm

Set up a word processing file and answer the following questions:

1. What are "contracts?" How does the USA differ from Canada?

2. What is a contract relationship to tort liability?

3. What is "privity of contract" rule?

4. Explain "reasonable man."

5. What is meant by "consent?"

6. What is "consideration" and how does this apply to contract law?

7. What is contracts "under seal?"

8. Explain offer and acceptance as related to contract law.

9. Explain three types of mistakes as related to contract law.

10. What is "rectification?"

11. Explain misrepresentation.

12. What are Restraint of Trade Contracts?

13. What is Assignment and explain Novation.

14. How does Frustration affect a contract?

15. Give one rule a court will use to interpret a contract.

16. Why are there time limits on contracts?

17. Explain Breach of Contract.

18. What is Specific performance?

19. What are Injunctions?

20. What are the two main methods of calculating damages?

When completed, please place in the portfolio you are compiling for the Business Law class.

Be prepared to discuss all answers in class.