Contract Law Flashcards
Requirements for a contract (3)
- Parties in Agreement
- Intention to be legally bound
- Consideration
Requirements of a valid offer (3)
- Parties prepared to enter into agreement
- Terms sufficiently certain
- Offer is communicated
Common communication that aren’t offers (2)
- Request for information
- Invitation to treat
Method of accepting a unilateral contract
Action
Types of termination (4)
- Revocation
- Rejection
- Passage of Time
- Operation of Law
Acceptance in a bilateral contract (3)
- Performance
- Promise to Perform
- Offers to Enter into Bilateral Contract
Exceptions to Postal Rule for Acceptance (3)
- Letter not properly addressed and stamped
- Not reasonable to accept the offer by post
- Rule has been excluded by the offeror
Presumption for Rebutting (Legal Intention) (2)
- Domestic Family Situations
- Social Situations
Types of capacity categories that may not enter into contract (3)
- Minors (always voidable)
- Mental Incapacity (may be voidable)
- Intoxication
Consideration must be
Sufficient but need not be adequate
Illusory consideration
Too vague and hard to enforce
Insufficient consideration
Performance of an existing duty
Agency
Principal gets agent to enter contract on behalf
Assignment
Contract is made, benefit of contract assigned to someone else
Conditions
Something that has to happen before the obligation can take effect
Warranties
Less important terms
Innominate terms
Can’t tell from the contract if it is a condition of warranty
Express Terms
Parties have reasonable notice of it
Ways terms can be implied
- Statute
- Courts
- Customs and Usage
- Dealings between Parties
Exclusion Clause
Term in the contract that one of party is not going to be liable in the breach, or only up to a certain amount
Three methods of incorporation (3)
- By signature
- By notice
- By custom or course of dealing
Contra proferentum rule
Against the exclusion if its ambigous
Exclusions that are void (2)
- Excluding liability of death or injury by negligence
- Exclusion of one of the condition implied by sale of goods 1999
Voidable under Consumer Rights Act 2015 (3)
- Prohibited terms are unenforceable
- Unfair terms
- Terms must be transparent and legible
Vitiating Factors that make contract void (2)
- Mistake
- Illegality
Vitiating Factors that make contract voidable (4)
- Capacity
- Duress
- Undue Influence
- Misrepresentation
Types of mistake (4)
- Common mistake
- Mutual mistake
- Unilateral mistake
- Mistaken identity
Types of duress (3)
- Duress of the Person
- Duress of the Goods
- Economic Duress
Types of undue influence (3)
- Actual
- Presumed
- Third Party
Types of misrepresentation (3)
- Fraudulent
- Innocent
- Negligent
Discharge by Breach
Breach of condition or innominate terms
Discharge by Frustration
Unforeseen events stops contract from being performed or makes contract radically different to contract
Equitable Remedies (2)
- Specific Performance
- Injunction
Restitutionary Remedies available when: (4)
- Person has been enriched or benefitted
- Enrichment at the expense of the other party
- Enrichment is unjust
- There are no defences
Damages for (3)
- Expectation Interest
- Reliance Interest
- Loss of Amenity
