01. Validity. Flashcards
A contract may be evidenced by W*, W or A.
writing
A contract may be evidenced by W, W* or A.
words
A contract may be evidenced by W, W or A*.
action
A contract may be evidenced by …
writing, words or action.
A … is an agreement, supported by consideration, made with the intention to create legal relations.
contract
A contract is an agreement, supported by …, made with the intention to create legal relations.
consideration
A contract is an agreement, supported by consideration, made with the intention to create …
legal relations
An agreement between a large retail company and an individual consumer is likely to be a …
standard form contract
The general principle that parties may contract on whatever terms they choose, so long as they are legal.
Freedom of contract
The Sale of Goods act implies terms into consumer contracts, thereby modifying the legal principle of …
freedom of contract
A ‘contract’ that is not a contract at all.
void contract
Neither party is bound by a … contract.
void
One party may set aside a … contract.
voidable
A ‘contract’ that one party may set aside.
Voidable contract.
Property transferred under a … contract is usually recoverable.
void
Property transferred under a … contract prior to one party setting it aside is NOT usually recoverable.
voidable
Void contract.
Not a contract at all.
Neither party is bound by it.
Property transferred under it can generally be recovered.
Not a contract at all.
Neither party is bound by it.
Property transferred under it can generally be recovered.
Void contract.
Voidable contract.
A contract which one party may set aside.
Property transferred before avoidance is NOT usually recoverable.
A contract which one party may set aside.
Property transferred before avoidance is NOT usually recoverable.
Voidable contract.
Situations making contracts void/voidable: V* (I, OPP) V (LoC - EYO and of SM, AOFW -no D or UI, M).
void
Situations making contracts void/voidable: V (I*, OPP) V (LoC - EYO and of SM, AOFW -no D or UI, M).
illegality
Situations making contracts void/voidable: V (I, OPP*) V (LoC - EYO and of SM, AOFW -no D or UI, M).
offends public policy
Situations making contracts void/voidable: V (I, OPP) V* (LoC - EYO and of SM, AOFW -no D or UI, M).
voidable
Situations making contracts void/voidable: V (I, OPP) V (LoC* - EYO and of SM, AOFW -no D or UI, M).
lack of capaciy
Situations making contracts void/voidable: V (I, OPP) V (LoC - EYO* and of SM, AOFW -no D or UI, M).
eighteen years old
Situations making contracts void/voidable: V (I, OPP) V (LoC - EYO and of SM*, AOFW -no D or UI, M).
sound mind
Situations making contracts void/voidable: V (I, OPP) V (LoC - EYO and of SM, AOFW* -no D or UI, M).
absence of free will
Situations making contracts void/voidable: V (I, OPP) V (LoC - EYO and of SM, AOFW -no D or UI*, M).
duress or undue influence
Situations making contracts void/voidable: V (I, OPP) V (LoC - EYO and of SM, AOFW -no D or UI, M*).
misrepresentation
A pre contractual statement of fact that induces a party to enter into a contract which nevertheless turns out to be untrue.
misrepresentation
In order to posess the capacity to enter into a contract a natural person must be…
aged 18 or over and of sound mind
A contract to whose terms a party can be held.
Enforecable contract.
Enforceable contract.
A contract to whose terms a party can be held.
Unenforceable contract.
A ‘contract’ to whose terms a party can NOT be held.
A ‘contract’ to whose terms a party can NOT be held.
Unenforceable contract.
Certain contracts, for example those regarding Consumer Credit or Land Transfers are only enforceable if they are …
in writing.
Contracts which must be in writing: LT*, CC, CG
land transfers
Contracts which must be in writing: LT, CC*, CG
consumer credit
Contracts which must be in writing: LT, CC, CG*
credit guarantees
An electronic signature (may/may not) be used as written evidence of the validity of a contract.
May.
