Types of Statutory Illegality and Invitations to Treat

Description

This Skill Bit talks about statutory illegality, which involves prohibiting certain agreements, activities, or clauses within contracts, making them unenforceable. Restrictions on contract formation or performance vary by jurisdiction, emphasizing the importance of understanding relevant laws for compliance. Invitations to treat are non-binding communications, such as advertisements or auction bids, that invite negotiations rather than making an offer. Recognizing this distinction is essential in contract law, as courts assess the context, language, and intentions to determine when parties are legally bound.

Duration approx. 5 Min.

Tier: advanced