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SQE 1 - FKL1 > Contract > Flashcards

Contract Flashcards

1
Q

What 3 elements need to be present for a binding contract?

A

Offer and acceptance

Intention to create legal relations

Consideration

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2
Q

What 2 elements need to be satisfied to show offer and acceptance?

A

Clear and certain offer displaying intention to be bound

Unequivocal acceptance

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3
Q

What test is applied to determine if there is an agreement between an offeror and offeree?

A

Objectively, what would the reasonable person say was the intention of the parties having regard to all circumstances

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4
Q

When is a unilateral contract deemed to be accepted?

A

When the act is performed

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5
Q

If a shop advertises saying special offer will that be an offer or invitation to treat?

A

Invitation to treat

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6
Q

Are goods displayed on shelves of a self-service store offers or invitation to treat?

A

Invitations

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7
Q

Are website displays offers or invitations to treat?

A

Invitations to treat

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8
Q

Is the act of inviting to tender an offer or an invitation?

A

Invitation

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9
Q

Is an invitation to tender, promising to accept the highest/lowest bid an offer or invitation?

A

Offer – it is a unilateral contract

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10
Q

What 3 conditions can be satisfied to show that an invitation to tender is actually an offer?

A
  1. Tenders are solicited from specified parties known to the requesting party
  2. Absolute deadline for submission
  3. Party requesting tenders had laid down absolute and non-negotiable conditions for submission
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11
Q

In auctions, when is the bidders offer deemed accepted?

A

Fall of hammer

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12
Q

In auctions, when can an offer be revoked?

A

Before the fall of the hammer

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13
Q

How many contracts are there in an auction without reserve and what are they?

A
  1. Bidder makes offer, accepted by hammer
  2. Unilateral contract based on promise that auction is without reserve and goods go to highest bona fide bidder (no matter how low)
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14
Q

What is a bidder entitled to if it is an auction without reserve and the auctioneer does not give them the goods/say there is an offer?

A

Damages from auctioneer

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15
Q

How can offers come to an end?

A

Rejected

Lapses

Revoked

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16
Q

What happens if there is no counter offer but an acceptance of an offer on an offerees terms?

A

It will be deemed a counter-offer and will still negate the OG offer

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17
Q

When does revocation of an offer take effect?

A

When the offeree has actual notice

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17
Q

Is an offer revoked in communication by a third party valid?

A

Yes

17
Q

When will death lapse an offer?

A

If the offeree knows the offeror has died

The death of the offeree – offer can’t be accepted by oferee’s representatives

18
Q

When can a unilateral offer be revoked?

A

B4 act is complete

19
Q

What happens if a unilateral offer has been part-performed?

A

It’ll probably be upheld and there is an implied obligation not to revoke the offer once performance has commenced

20
Q

How can revocation be effected for a unilateral offer if its impossible to know who all the offerees are?

A

Must take reasonable steps to bring to the attention of all those who have read the offer

21
Q

What are the 4 elements for defining whether there has been a valid acceptance?

A

Acceptance is in response to the offer

Acceptance is unqualified

Necessary prescribed mode of acceptance is followed

Acceptance must be communicated

22
Q

Can you accept an offer that was not addressed to you?

A

No

23
Q

What will a qualified offer likely be?

A

A counter offer

24
Q

What is needed to make a prescribed mode of acceptance hold?

A

It has to be very clearly mandatory or else any mode of acceptance that is no less advantageous to the offeror will bind them

25
Q

Can silence indicate acceptance if the offer indicates that it will?

A

No

26
Q

When does acceptance take place under the postal rule?

A

The moment the letter is properly posted

27
Q

In what circumstances are there exceptions to the postal rule?

A

Is not contemplated that post would be used

Letter is incorrectly addressed

Offeror disapplied the postal rule

To letters revoking offers

28
Q

When is acceptance effective with instant communications?

A

When received by the offeror

Offeror can be prevented from denying receipt of communication if they are at fault for the non-receipt

29
Q

When can a third party accept an offer for the offeree?

A

With authority of the offeree

30
Q

When is a letter properly posted?

A

When in the official letter box or the hands of the postal operative

31
Q

Does the postal rule apply if the letter is lost in the post?

A

Yes

32
Q

When will it not be contemplated that post would be used?

A

If using the post was not reasonable

33
Q

When is an email deemed received?

A

When in the server of the other person during their ordinary office hours

34
Q

What is the requirement of certainty?

A

Only contracts where the material terms are certain and complete can be binding

35
Q

What is the test to establish certainty?

A

In all circumstances, have the parties agreed all the terms they considered to be a precondition to creating legal relations

36
Q

What does it mean that consideration must not be past?

A

Cannot generally have taken place prior to the promise to pay

37
Q

What does it mean that consideration must move from the promisee?

A

Party who has not provided consideration may not bring an action to enforce a contract

38
Q

What does it mean that consideration need not be adequate?

A

Court will not assess adequacy of the consideration

39
Q

What does it mean that consideration must be sufficient?

A

Must have some value in the eyes of the law

40
Q

What is executory consideration?

A

Promise to perform something in future, after the contract has been made

Deliver goods and pay on delivery (at time of agreement, neither party has done anything yet)

41
Q
A

SQE 1 - FKL1 (12 decks)

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