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Training Programme > Contract Law > Flashcards

Contract Law Flashcards

1
Q

Name the five elements of a contract

OACIC

A

Offer, acceptance, consideration,
intention, certainty of terms

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2
Q

What is an offer and what does it encompass to be valid?

(CSCI)

A

An offer promises a party to enter into a contract subject to specific terms.

To be valid it must be complete, capable of acceptance, specific and written with the intention of being legally binding

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3
Q

What is an invitation to treat?

A

A request for someone to make an offer to enter into negotiations

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4
Q

4 ways an offer can be terminated

(DLRR)

A
  1. Death of an offerer,
  2. Lapse of time
  3. Revocation
  4. Rejection
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5
Q

Acceptance of offer vs counter offer

A

Acceptance makes an offer legally binding. A counter offer is a variation of the terms amounting to a rejection.

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6
Q

3 ways an offer can be accepted

A
  1. Orally
  2. By conduct
  3. In writing
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7
Q

What is meant by consideration in a contract

A

Something of value that is to be exchanged

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8
Q

Two different types of arrangements and their presumed intentions

A
  1. Intention to create legal relations in a social and domestic agreement- presumption of no intention to be legally binding
  2. Intention to create legal relations in a commercial agreement- presumption of intention to be legally binding
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9
Q

When is an agreement uncertain?

A

May be lacking an essential term
May be vague or ambiguous

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10
Q

6 vitiating factors that make a contract voidable

(DUMICS)

A
  1. Duress
  2. Undue influence/unconscionable bargain
  3. Misrepresentation
  4. Incapacity
  5. Contract with minors
  6. Statute voidable/restraint of trade
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11
Q

8 circumstances that terminate a contract

(EPAIMFOR)

A
  1. Expiry
  2. Performance
  3. Agreement
  4. Illegality- prevents the enforcement of a contract if it is illegal
  5. Mistake
  6. Frustration- contract to be set aside when an unforeseen event makes it impossible or illegal to perform
  7. Operation of law- due to legal requirements
  8. Recession- undo the contract
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12
Q

6 remedies for breach of contract

(DRRSIR)

A
  1. Damages
  2. Repudiation- termination on the most serious breach
  3. Rescission- unwinding of the transaction
  4. Specific performance- court obligates party to perform obligations
  5. Injunction- court obligates specific tasks
  6. Restitutionary award- restores claimant to pre-loss state
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13
Q

Explain the burden of proof and the ‘but for’ test

A

The responsibility falls on the claimant to prove that a contract was breached and the loss was due to that breach.

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14
Q

4 hypothetical consequences to consider when quantifying loss

A
  1. What would the claimant have done?
  2. What would the defendant have done?
  3. What would the third parties have done?
  4. What natural events would have occurred?
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15
Q

8 common defenses in a breach of contract

(LMLISCER)

A
  1. Limitation
  2. Mitigation
  3. Loss not recoverable
  4. Illegality by the claimant
  5. Set-off/counterclaim
  6. Contributory negligence
  7. Exclusion/penalty i.e contract terms
  8. Remoteness
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16
Q

What is the difference between ‘void’ and ‘voidable’

A

An important terminological distinction is between contracts that are capable of being ratified at a later stage, which are referred to as ‘voidable’, and purported contracts which never came into existence as they were unenforceable by law, which are referred to as ‘void’.

17
Q

Limitation in contract law

A

6 years

18
Q

Harvey v Facey (1893)

A

Invitation to treat example

19
Q

Roberts v Anderson (2003)

A

Legally binding oral example

20
Q

Entores v Miles Far East Corp. (1955)

A

The reception rule

21
Q

Adams v Lindsell (1818)

A

The postal rule

22
Q

Balfour v Balfour (1919)

A

Intention where marriage is considered

23
Q

Errington v Errington Woods (1952)

A

Written agreement

24
Q

Simpkins v Pays (1955)

A

Third-party agreement

25
Q

Merritt v Merritt (1970)

A

Agreement where parties have seperated

26
Q

Foley v Classique Coaches Ltd (1934)

A

Certainty of terms

27
Q

Hadley v Baxendale (1854)

A

Test for remoteness

28
Q

The Law Reform (Contributory Negligence) Act 1945

A

The Law Reform (Contributory Negligence) Act 1945 (LRCNA 1945) provides for apportionment of loss where a claimant has suffered loss “as the result partly of his own fault and partly of the fault of any other person”.

29
Q

Henderson v Merrett Syndicates Ltd (1994)

A

Duty of care owed in contract

30
Q

Part 36

A

Settlement of costs, 21 days to respond

31
Q

Benefits of contract law case

A

Can strengthen the case with special damages, less assessment

32
Q

Why plead in tort and contract?

A

Chance of more compensation in tort, more success in contract. More assessment needed in tort. Special damages would strengthen a case in tort. Can recover general damages for child not named in tenancy in contract law, which would otherwise be in special damages

33
Q

Voidable, void and termination difference

A

Voidable- parties can continue to operate under it but make it terminable under those issues (more of a restraint)
Termination- immediate end (total ending)
Void- never came into existence because was never plausible (never needed to be voidable or terminable)

34
Q

ATE policy

A

Solicitor takes it out before goes to court- the earlier the better or more expensive. If lose the client doesn’t pay it back, if win comes out of compensation.

35
Q

Solicitors fees standard CFA

A

Disbursements (extras covered by our insurer Sandfield)
Basic costs
Success fees- ours is damage % for better buisness

36
Q

Implied vs express terms of a contract

A

Read against the factual matrix vs not expressly stated

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