Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

SQE 1 > Contract Law > Flashcards

Contract Law Flashcards

1
Q

Requirements for a contract (3)

A
  1. Parties in Agreement
  2. Intention to be legally bound
  3. Consideration
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Requirements of a valid offer (3)

A
  1. Parties prepared to enter into agreement
  2. Terms sufficiently certain
  3. Offer is communicated
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Common communication that aren’t offers (2)

A
  1. Request for information
  2. Invitation to treat
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Method of accepting a unilateral contract

A

Action

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Types of termination (4)

A
  1. Revocation
  2. Rejection
  3. Passage of Time
  4. Operation of Law
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Acceptance in a bilateral contract (3)

A
  1. Performance
  2. Promise to Perform
  3. Offers to Enter into Bilateral Contract
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Exceptions to Postal Rule for Acceptance (3)

A
  1. Letter not properly addressed and stamped
  2. Not reasonable to accept the offer by post
  3. Rule has been excluded by the offeror
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Presumption for Rebutting (Legal Intention) (2)

A
  1. Domestic Family Situations
  2. Social Situations
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Types of capacity categories that may not enter into contract (3)

A
  1. Minors (always voidable)
  2. Mental Incapacity (may be voidable)
  3. Intoxication
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Consideration must be

A

Sufficient but need not be adequate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Illusory consideration

A

Too vague and hard to enforce

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Insufficient consideration

A

Performance of an existing duty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Agency

A

Principal gets agent to enter contract on behalf

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Assignment

A

Contract is made, benefit of contract assigned to someone else

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Conditions

A

Something that has to happen before the obligation can take effect

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Warranties

A

Less important terms

17
Q

Innominate terms

A

Can’t tell from the contract if it is a condition of warranty

18
Q

Express Terms

A

Parties have reasonable notice of it

19
Q

Ways terms can be implied

A
  1. Statute
  2. Courts
  3. Customs and Usage
  4. Dealings between Parties
20
Q

Exclusion Clause

A

Term in the contract that one of party is not going to be liable in the breach, or only up to a certain amount

21
Q

Three methods of incorporation (3)

A
  1. By signature
  2. By notice
  3. By custom or course of dealing
22
Q

Contra proferentum rule

A

Against the exclusion if its ambigous

23
Q

Exclusions that are void (2)

A
  1. Excluding liability of death or injury by negligence
  2. Exclusion of one of the condition implied by sale of goods 1999
24
Q

Voidable under Consumer Rights Act 2015 (3)

A
  1. Prohibited terms are unenforceable
  2. Unfair terms
  3. Terms must be transparent and legible
25
Q

Vitiating Factors that make contract void (2)

A
  1. Mistake
  2. Illegality
26
Q

Vitiating Factors that make contract voidable (4)

A
  1. Capacity
  2. Duress
  3. Undue Influence
  4. Misrepresentation
27
Q

Types of mistake (4)

A
  1. Common mistake
  2. Mutual mistake
  3. Unilateral mistake
  4. Mistaken identity
28
Q

Types of duress (3)

A
  1. Duress of the Person
  2. Duress of the Goods
  3. Economic Duress
29
Q

Types of undue influence (3)

A
  1. Actual
  2. Presumed
  3. Third Party
30
Q

Types of misrepresentation (3)

A
  1. Fraudulent
  2. Innocent
  3. Negligent
31
Q

Discharge by Breach

A

Breach of condition or innominate terms

32
Q

Discharge by Frustration

A

Unforeseen events stops contract from being performed or makes contract radically different to contract

33
Q

Equitable Remedies (2)

A
  1. Specific Performance
  2. Injunction
34
Q

Restitutionary Remedies available when: (4)

A
  1. Person has been enriched or benefitted
  2. Enrichment at the expense of the other party
  3. Enrichment is unjust
  4. There are no defences
35
Q

Damages for (3)

A
  1. Expectation Interest
  2. Reliance Interest
  3. Loss of Amenity

SQE 1 (15 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions