Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

BLAW 301 > CH 6 > Flashcards

CH 6 Flashcards

1
Q

What is the starting point for all contracts

A

An offer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

what is a promise to enter a contract on specified terms as soon as it is accepted

A

an offer

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

what is an invitation to treat

A

A communication expressing a wish to do business—no legal consequences.
It is not considered an offer.
It is only treated in law as an expression of willingness to do business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

give an example of an invitation to treat

A

Most advertisements and displays of goods in stores are invitations to treat.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what is a take it or leave it contract

A

a standard form contract ( car lease, bank loans: non-negotiable )

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

what does the law expect people to do in terms of standard form contracts

A

The law expects people to take care of themselves.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

who is an offeror and an offeree

A

Offeror: The person who makes an offer
Offeree: The person to whom an offer is made.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

CASL?

A

Canada Anti Spamming legislation

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

what does the CASL regulate

A

Regulates sending of Commercial Electronic Messages (CEMs)
Email, text message, social media
Includes offers to purchase or sell goods and services, or provideinvestment or gaming opportunities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

what is needed to send a CEM without being considered spam

A

Permission to send the CEM must have been received.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

what is the penalty for spamming

A

Penalty up to $10 million for an organization, $1 million for an individual

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

5 ways that an offer can be terminated

A

1Revocation
2Lapse – Expiration of an offer after a specified or reasonable period.
3Rejection – The refusal to accept an offer.
4Counteroffer – Turning down an offer and proposing a new one in its place.
5Death or insanity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

what is revocation

A
  • The withdrawal of an offer, anytime before acceptance.
  • The offeree needs to be notified.
  • Upon revocation, the offer ceases to exist.
  • In some cases, offerors can revoke offers despite the promise to leave the offers open for a set period.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

what is an options agreement

A

An agreement where, in exchange for payment, an offeror is obligated to keep an offer open for a specified time. It is a separate contract that may or may not lead to the acceptance of the offer.
Commonly seen in real estate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

If there is no expiry date specified on an offer, when is the expiration date

A

it is a reasonable time, judged case by case

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

when does an offer come into existence

A

when it is accepted

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

what are some things that can be put in a contract

A

exchange of something of value such as goods or services. can also be not to do something, such as not to pursue a lawsuit

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

what is a promise under seal

A

Once a seal is affixed, it is evidence of serious intent and acknowledgment that the contract is enforceable.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

what does common law presume when doing business agreements

A

the intention to contract is presumed

20
Q

what does common law presume in cases of family agreement s

A

promises between families are non contractual

21
Q

what are vague commitments to buy or sell

A

they are invitations to treat

22
Q

what are vague commitments to buy or sell

A

they are invitations to treat

23
Q

describe the case of Bigg v Boyd Gibbins Ltd

A

For the purpose of entering into a contract, parties may negotiate considerably. Difficulties arise when one party believes that a contract has been concluded while the other party disputes that conclusion.

Communication over email made disagreements over weather a contract was formed or not.

the court decided that a contract did form

24
Q

Revocation in the Context of a Firm Offer

explain how this works

A

if a promise to keep an offer open is payed, there cannot be any revocation

But if there is a promise to keep an offer open, but there is no payment received, then there can be revocation of the offer even before the promised deadline.

25
Q

describe the case of Dickinson v Dodds

A

there was a promise to keep an offer open, but this offer was revoked. plaintiff sued but lost because the defendant was allowed to revoke offer.

26
Q

what is an options agreement

A

whereby the offeree pays the offeror to keep the offer open for the specified time.

27
Q

destroy card

A

ujyguykuv

28
Q

how is a call for tenders different from an invitation to treat (to Tyler’s understanding)

A

calling for tenders means that you are subject to the rules of “the call”. if you set out a price to do a project, you must do the project at this price if accepted. You cannot change the price after accepting the call. you also cannot revoke after a specific period of time specified in “the call”.

please see ch 6 Revocation in the Context of a Tendering Contract ,, if this doesn’t make sense

29
Q

two ways that an offer can lapse

A

an expiry date

within a reasonable period of time

30
Q

what are the risks involved in rejecting an offer

A

The risk in rejecting an offer is that it may never be renewed by the other side.

31
Q

what is a risk involved in a counteroffer

A

Whenever a party makes a counteroffer, they jeopardize their chance of being able to accept the original offer.

32
Q

what happens to the offer when Someone who makes an offer and then, subsequently, becomes insane

A

the offer would not be bound as a general rule

33
Q

what happens when an acceptance to an offer is “lost in the mail”

A

Acceptance “lost in the mail” is called the “postbox rule,” and does not invalidate the acceptance.

34
Q

if a website displaying goods or services for sale not only indicates the price but also indicates that the item is in stock, is this considered an offer?

A

yes it could be considered an offer without clear wording to the contrary. If the website was only advertising its products then it is not an offer.

35
Q

give an example of how an offer can be communicated electronically

A

for example by clicking the “I agree button”

36
Q

give an example where parties have reached an agreement through offer and acceptance, but is not an enforceable agreement.

A

formalization. businesses may not wish to be bound in any way until the contract’s formal language is agreed to and the formal contract signed.

37
Q

explain consideration

A

both parties must give up something of value in order to have an enforceable contract.

38
Q

what is a gratuitously promise

A

a promise without consideration

39
Q

what nulls a gratuitous promise

A

a promissory seal

40
Q

Explain pre existing legal duty

A

When parties to a contract agree to alter the contract in a way that benefits only one of them, the traditional legal perspective says that the alteration is unenforceable unless there is fresh consideration.

41
Q

explain rebuttable presumption

A

The common law recognizes this reality through the rule stating that in the marketplace, the intention to contract is presumed.

42
Q

what does the law primarily protect in contract law

A

the law protects consumers not commercial businesses

43
Q

what four things must a contract be

A

-an agreement composed of an offer and an acceptance
-complete
-deliberate
supported by mutual consideration

44
Q

what is something law doesn’t care about

in terms of contract law and commercial settings

A

the law doesn’t care about commercial policy

45
Q

is a price tag an offer

A

no

46
Q

Is a promise to pay more for performance of a pre-existing legal duty generally enforceable?

A

The answer depends on jurisdiction. In Ontario and jurisdictions choosing to follow Ontario, the leading decision is Gilbert Steel. This case clearly states that such a promise is not enforceable. In New Brunswick, British Columbia, and jurisdictions willing to follow their approach, such a promise is enforceable provided it was voluntarily given.

BLAW 301 (11 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions