Business Law - Test Study Notes Review CONTRACTS - Written. Oral. Implied. Freedom of contract - what parties agreed to in the first place is unrestricted to the court. Equal bargaining position. Acting Voluntarily. People can enter in any kind of contract as long as it meets the common law requirements. Law of contracts: common law or case law. CONSENSUS - parties must reach a mutual agreement. Equal bargaining positions. Free to enter as they …showed first 75 words of 1353 total…

…showed last 75 words of 1353 total…document) given for foods while they are in the care of the shipper. STOPPAGE in TRANSITU - seller retains the right to atop the shipment in event of default. Drawer orders Drawee to pay the Payee. Cooling-off Period - allows purchasers time to change their minds and cancel a contract. HORIZONTAL MERGERS - when competitor buys out another. VERTICAL MERGERS - merger of supplier & retailer. CONGLOMERATE MERGERS - companies not in direct competition.