Contract Flashcards
1
Q
Define ‘contract’
A
A legally binding agreement between parties where consideration is given and an offer and acceptance takes place
Must be intention to create legal relations - can be express or implied
2
Q
Define ‘offeror’
A
Person who makes the offer
3
Q
Define ‘offeree’
A
The person who the offer is being made to
4
Q
What is a unilateral contract?
A
Where there is a promise to perform an obligation with no corresponding obligation on the other party to the contract, to do anything
5
Q
Unilateral contract case and held
A
Carlil v Carbolic smoke Company
An offer can be made to the whole world and anyone can accept
6
Q
What is a bilateral contract
A
Each party must do something under the contract
