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MGT388 - Law > Contract > Flashcards

Contract Flashcards

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1
Q

Why is English contract law relevant in engineering

A

Basis for much of the world’s global business

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2
Q

English legal system can be broken into 2 parts . . .

A

Common law jurisdiction:

  • statute/legislation
  • ‘Judge made law’
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3
Q

Does Contract regard criminal or civil law

A

Civil law

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4
Q

Describe criminal law

A
  • Rules are set out by society for all our benefit
  • Legal action brought by the state
  • Any fines imposed in relation to an infringement are paid to the state
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5
Q

Describe civil law

A
  • Legal action is brought by the individual who feels that they have suffered
  • Action is brought against the party perceived as having done them wrong
  • Any sum of damages identified goes to the party bringing the action
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6
Q

Does Contract regard private or public law

A

Private

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7
Q

Describe private law

A

Law between two or more individuals

Can include public sector organisations

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8
Q

Describe public law

A

Concerns public sector in undertaking its public functions

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9
Q

What is the importance of privity

A

Generally, only the parties to the contract can enforce it in court
This reflects personal interest in the contract

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10
Q

Contract law is generally …

A

rule based

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11
Q

What is common law

A

The strength of an authority will depend upon it having like facts to the case in hand and generally that it was decided in a higher court

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12
Q

Why enter into a contract

A
  • Facilitate exchange
  • Plan commercial relationship
  • Provide certainty
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13
Q

What form does a contract need to be in

A

Can be oral or written, except in contracts for land

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14
Q

What is the normal method of enforcement

A

Award of damages (court calculates sum of money which will put the ‘wronged’ party in the position that they would have been if the contract had been successfully completed)

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15
Q

Essential components of a valid contract

A
  1. Offer
  2. Acceptance
  3. Consideration
  4. Intention to create legal relations
  5. Certainty
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16
Q

What is an offer

A

An unequivocal indication of a willingness to be legally bound by a promise

Can be to an individual or group

17
Q

What is not an offer

A
  • Price lists
  • Advertisements (generally)
  • Window/shop displays
18
Q

What is acceptance

A
  • a final unqualified expression of assent
  • any attempt to vary terms (counter-offer which not acceptance)
  • A counter offer kills the original offer
19
Q

What is consideration

A

some right, interest, profit or benefit accruing to the one party, or some forbearance, loss undertaken by the other

20
Q

What is not a consideration

A

Performance of an existing public duty or contractual duty

21
Q

What contracts are exempt from consideration

A

Speciality contracts by deed

22
Q

What is intention to create legal relations

A

Assessed objectively in court if parties come into dispute

23
Q

What is Certainty

A

Terms have to be certain. Less certain facts/law, the more likelihood of dispute. Not everything has to be in writing but the higher significance the more sense there is in putting it in writing. Court may be able to imply terms.

24
Q

What is in a contract

A

Express terms - contained in the offer

Court may imply terms into a contract

25
Q

When will the court imply a term

A
  • common practice in the geographical area or industry

- In light of consistent and repeated previous dealings

26
Q

What are exclusion & limitation clauses

A
  • include terms excluding them from liability
27
Q

What are the restrictions on Exclusion & Limitation clauses

A

Unfair contract terms act 1977 -

Where the act applies any attempt to exclude liability for death or personal injury resulting from negligence

28
Q

How can a contract be discharged

A
  • performance of contract
  • by agreement of contractual parties
  • breach of contract
  • frustration of contract
  • contract is voidable due to conduct of a contracting party
29
Q

Can wronged party choose to terminate contract

A

Breach of condition - Yes

Breach of warranty - No

MGT388 - Law (1 decks)

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