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Contract Law > Contract Law > Flashcards

Contract Law Flashcards

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1
Q

Types of rules in contracts

A
  • Made by parties themselves (DIY Contracts)
  • Made by official national, European and supranational bodies
  • Informal (made by others)
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2
Q

Types of unwritten contracts

A
  • General contracts and promises
  • Gratituous promises (gifts)
  • Family contracts (normally non-binding)
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3
Q
  1. Contracting parties
    Freedom of contract
A

Parties can make laws themselves
Parties can enter a contract if they want
–> if they do, they need to abide to rules

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4
Q
  1. Contracting parties
    Generalized conditions
A

Standarized rules to ease the process of constructing a contract

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5
Q
  1. Official Rules
    Facilitative default rules
A

If there arent any general conditions

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6
Q
  1. Official rules
    National level
A

Contract made legislation

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7
Q
  1. Official rules
    European Level
A

Directives or regultations due to limited power

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8
Q
  1. Official rules
    Interntional level
A

International conventions
Treaties

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9
Q
  1. Informal rules
    Soft law -> What source?
A

PECL

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10
Q

What is the main criterion for a contract to be enforceable?
(from promise to contract)

A

INTENTION from both parties to enter contract
- Contract parties -> Intention
- Gratuitous promise -> Notarial deed
- Family promises -> Often not enforceable

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11
Q

When does the law presume there can be intention?

A

When both parties gain something from the transaction
–> Exchange

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12
Q

A proposal turns to offer when (2):

A
  • The other party accepts it
  • Contains enough definite terms
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13
Q

Acceptance is considered when:

A

Both parties know AT WHAT MOMENT they are bound to a contract

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14
Q

What formalities are enforced in order to protect the consumer (weaker party)?

A
  • Information duty
  • Right to withdraw from contract
  • Written contract
  • Case of incapacity
    –> MINORS or MENTALLY ILL cannot enter a contract
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15
Q

Precontractual liability

A

A party is liable also during the negotations of a contract

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16
Q

Once concluded, what problems can arise (3)?

A
  1. Interpretation
  2. Unfairness of contract terms
  3. Prohibited contratcs (void)
17
Q
  1. Interpretation
    What are the two ways of interpreting a contract?
A
  1. Subjective: In case both parties were able to understand the terms laid by the promisor -> Prevails
  2. Objective: If one wasn’t, the assessment will interpret it as a reasonable person with sufficient knowledge would
18
Q
  1. Unfairness of contract terms
    When does it happen?
A

When performance and counter-performance are not equivalent

19
Q
  1. Unfairness of contract terms?
    What are the two types?
A
  1. Procedural unfairness: If a party is not able to form its will under a free manner
    - Threat
    - Incapability
    - Fraud (take advantage)
  2. Substantial unfairness: looks at contents of contract
    - Contrary to good faith
    - Significant imbalance in parties rights and obligations
20
Q
  1. Prohibited contracts
    When does it happen?
A

Unlawful to public order, or morality -> VOID

21
Q

What are the 3 remedies available by law when one party does not perform the contract?

A
  1. Performance
  2. Damages for non-performance
  3. Termination for non-performance
22
Q

Civil law 1. Non-Performance
What happens?

A
  • Non-performance = Can be forced by court of law
  • Sometimes not possible
    –> OBJECT IMPOSSIBILITY
23
Q

Object impossibility

A
  • When the performance is still possible, but with great effort or costs
  • Performance requires specific personal qualities
24
Q

Common Law 1. Non-Performance
What happens?

A

Non-performance = Party will have to pay for damages
- Money
- Specific performance
–> If not possible, performance in specie
- Repair or replacement

25
Q

Civil law 2. Damages, Fault
Does fault matter? When can one claim for damages?

A

Can only claim damages when party is at fault
–> If not = Can call force majeure

26
Q

Common Law 2. Damages, Fault
Does fault matter? When can one claim for damages?

A

Does not matter whether a party is at fault or not
– > Can always claim damages

27
Q
  1. Termination can be claimed when:
A

When non-performance is serious enough

Contract Law (9 decks)

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