Chapter four Flashcards
Law of contract
1
Q
What is the freedom of contract?
A
Freedom to decide who and what you want to contract
2
Q
What are the general conditions?
A
A standardised set of rules that suit own interest
3
Q
What are the default rules?
A
Rules that are automatically applied if parties have not made any other agreements
4
Q
Where can contract rules be found in civil law?
A
Civil code
5
Q
Where can contract rules be found in common law?
A
Case studies
6
Q
What is soft law?
A
rules that are not officially binding
7
Q
When is a contract concluded?
A
If parties intend to be legally bound and reach a sufficient agreement
8
Q
What is a gracious promise? and what are its requirements?
A
It is a gift. It is required to be put into a notarial deed
9
Q
What does consideration require?
A
quid pro quo
