Contract law

Question 1

what is the most important element of a contract?

Answer 1

agreement

Question 1

what is agreement made up of?

Answer 1

offer+acceptance

Question 2

what is the agreement supported by?

Answer 2

consideration

Question 3

what is an offer?

Answer 3

a clear, unambiguous statement of the terms upon which the
offeror is prepared to contract, should the offeree decide to accept

Question 4

who is the offeror?

Answer 4

the person who makes the offer

Question 5

who can be made an offer?

Answer 5

anyone (even those who don’t have the capacity to accpet)

Question 6

does an offer need to be in writing?

Answer 6

no

Question 7

what is a bilateral offer?

Answer 7

offers made to a particular person or a particular class of people

Question 8

what is a unilateral offer?

Answer 8

offers made to the world at large

Question 9

what must the ‘intention to be bound’ be?

Answer 9

clear, unambiguous and indicate that the offeror is willing to be bound by the terms of their offer

Question 10

what must an offer consist of?

Answer 10

a definite promise to be bound, provided its terms are accepted

Question 11

what are some examples of ‘invitation to treat’?

Answer 11

-goods in a shop window
-goods in a self service shop
-advertisements
auctions
-applications for tenders

Question 12

what do tenders do?

Answer 12

constitute offers, or bids

Question 13

an advertisement requesting tenders is merely what?

Answer 13

an invitation to treat

Question 14

who can accept an offer?

Answer 14

Only the person to whom the offer was made is entitled to
accept it

Question 15

what must the offeree do when making a counter offer?

Answer 15

accept the exact terms proposed by the offeror

Question 16

Is the fact that the offeree intends to accept the offer is sufficient to form a valid agreement?

Answer 16

no

Question 17

what is essential when communicating an acceptance of an offer?

Answer 17

that there be an external manifestation of assent

Question 18

what does the postal rule state?

Answer 18

that acceptance is complete the moment the letter is put in the post box.

Question 19

what does the postal rule only apply to?

Answer 19

to acceptances sent using the official
postal service

Question 20

the postal rule only applies to where?

Answer 20

when acceptance is intended, expressly or impliedly, to be communicated by post

Question 20

what does article 14 of the European Communities
Regulations 2003 provides?

Answer 20

-where the recipient of the services places their order through electronic means, the relevant service provider is to acknowledge receipt of the order without undue delay and by electronic means.
-the order and the acknowledgment of receipt are deemed
to be received when the parties to whom they are addressed are able to access them

Question 21

what is conversion?

Answer 21

tort of treating someone’s property in a manner inconsistent with that person’s title to the property