The mirror. (Stillwater, Minn.) 1894-1925, 1914-04-30
WHAT IS LAWFUL
IN CONTRACTS
A Paper Full of Valuable Information Con-
cerning the Law of Contracts is Read
to the Chautauqua Circle at its Last
Meeting.
AGREEMENT OF MINDS
By Blackstone.

~
and byways of life we are brought
into intimate relations with our fel
low-man, and as consequence O.
these relations, we become involved
in many legal obligations; the true
nature of which, many are ignorant
In these instances then, it is folly tC
be wise, for no doubt much sleer
would be lost by worrying whereas
the legal relation assumed so care
lessly are just as easily dissolved
this phase of the law of contracts il
we'll illustrated by one of the com.
edies of Moliere, who introduces as
the principal actor, an ignorant
man who suddenly becomes rich and
anxious to possess an education. He
engages a learned professor and tells
the professor to proceed. So he en-.
quires. Would my Lord learn to
write poetry?" what is this poet
ry?" The professor reads verse;
No! 1 will have no poetry" well,
perhaps My Lord would wish to
write prose: :"-and the professor
reads from a book. where upon. the
newly rich exclaims, why that is
what have been doing all my life;
reading prose and not knowing it,
So with many other peole = they
have been making contracts un-
knowingly many times daily and as
suming obligations under these con-
tracts, that fully realized would
have caused them much uneasiness.
Let us consider for a moment a
few definitions as to what contract
is and who may assume contractual
relations. Briefly defined:--a con-
! tract is an agreement, enforcible at
law, between two or more persons,
based upon sufficient consideration
to do or not do a particular
thing. Also broadly speaking every
agreement and promise enforcible
at law is contract. There are GER
tain requisites of a contract certain
essentials in order that a contract
shall not be be void; hence, the law
says distinctly that every valid en-
fOrceable contract must have these
requisites.
Requisites of Contracts
First:-The parties contracting
must be competent.
Second There must be an agree
ment between these parties reached
by an offer by one which is accepted
by the other.
Third:-This agreement must be
for a lawful purpose.
Fourth must be based upon a
good and sufficient consideration.
Fifth:-It must be made with all
the formalities required by law.
Contracts may be made orally or
in writing. Many persons do not
understand that an oral contract is
as valid and binding as written
one; the principal reason why oral
contracts are Objectionable is the
difficulty of proving these terms,
while in a written contract evasion
is not possible.
Contracts resolve themselves into
two classes. Express contracts and
implied contracts. An express con-
tract is one which is contained in an
agreement, entered into either oral
ly or in writing, between parties in
which the terms are expressly agreed
as hiring out to work for one year
at twenty five dollars a month
with room and board.
Implied contracts arise, when the
parties have made no express agree
ment, but where their actions are
such as to lead to the conclusion
that it was their intention to enter
into a contractual relation to the
particular subject matter. For ex-
ample; man goes into a store and
asks for ten pounds of sugar and a
pound of coffee-the clerk wraps it
up and the man walks away with it
without saying anything about pay
ment. But his acceptance and go
ing away, implies promise to pay
the usual market prlce-or a man
enters street car and offers the
conductor the regular nickle fare
which is duly accepted, this consti-
tutes an implied contract; the r. r.
Co.. thereby agreeing to give trans
portation in exchange for the con-
sideration of five cents.
Valid Contracts
We will briefly discuss the five
requisites to valid contract:
The first requisite is competent
parties. To any one about TO en-