The Fine Print. The Hidden Agreement - A look at contracts and contract law.

Seminar paper from the year 2009 in the subject Law - Civil / Private / Trade / Anti Trust Law / Business Law, grade: B, Ottawa University, course: Business Law, language: English, abstract: This paper will study a contract, common in business law; but more specifically, this report will analyze a credit card agreement from CIBC Visa. In studying this contract, it will show what a contract is and the legal framework that it implies. In studying the clauses of this contract, one will familiarize oneself with the legal terms and jargon that all contracts consist of. In explaining these clauses, one might be able to divide them into twelve main principles that a contracting agreement should consist of. This paper will then analyze the clauses and any potential flaws or problems, and later suggest changes that should be applied. These can be considerable change, for instance, adding or removing clauses or can be simply a small change, such as changing a few words in a clause or fixing a spelling error. This report will then move on to challenge the legal reasoning of the contract and finally explain the legal corrective measures that are identified at the end of this paper. All of these things will be tied into the general foundation of business law and how they all connect.