intro to contract law Flashcards
what are the four essential aspects of forming a contract
offer, acceptance, intention, consideration,
what is a contract
A contract is a legally binding agreement which recognises and governs the rights and duties of the parties to the agreement and creates obligations
define capacity
both parties must have the capacity to contract – they are both in a position where they can actually abide by the conditions of the agreement and able to give consent
which examples of case law is associated with the concept that a counter offer destroys the original offer
Hyde v Wrench [1840]
which example of case law is associated with the concept that a request for further information is not the same as a counter offer and does not destroy the original offer
Stevenson v McLean [1880]
which example of case law is associated with the concept that acceptance by conduct counts as acceptance
Brogden v Metropolitan Railway Co [1877]
what is the basic timeline of a contract
Invitation to treat??
Enquiry
communication
offer
maybe counter offer
maybe request for further information
acceptance
what is a unilateral offer
A unilateral offer is a promise made by one party that can be accepted only by the performance of a specific act by another party. The offeree is not required to perform the action, but if they do, the offeror must fulfill their promise.
A classic example is a reward offer: if someone offers a reward for the return of a lost pet, they are making a unilateral offer. The person who finds and returns the pet accepts the offer by performing the act of returning it.
what is a bilateral offer
A bilateral offer involves a promise made by one party in exchange for a promise from another party. Both parties are obligated to fulfill their promises
common example of a bilateral offer is a contract for the sale of goods: one party agrees to sell a car for a specified price, while the other party agrees to pay that price. Or a surveyor promising to survey a house in return for the client’s promise to pay his fee
which example of case law is associated with the concept that an advertisement is an invitation to treat
Partridge v Crittenden [1968]
what is another term for common law
case law
what are express terms
the conditions of the contract. Express terms are what the parties have voluntarily decided to do. Must be incorporated by the time the contract has been formed.
which example of case law is associated with the concept that you must be aware of the offer to accept it
Williams v Carwardine [1833]
which example of case law is associated with the concept that silence in relation to bilateral contracts is not consent
Felthouse v Bindley [1862]
what is the postal rule
An acceptance by post creates a contract at the moment of posting. Adams v Lindsell [1818]
what is the rule on fax
As long as it’s within working hours, the offer is accepted the moment the fax is sent as it is instantaneous.
Brinkibon Ltd v Stahag Stahl [1983] (telex)
JSC Zestafoni v Ronly [2004] (fax)
which contracts have to be in writing
*Deeds (i.e., a will)
*Consumer credit contracts
*Transferring ownership or rights over land
*Guarantee
can parties to social and domestic arrangements have intention to be legally bound
no
Balfour v Balfour [1919]
which case law states that parties to business and commercial dealings have intention to be legally bound
Edwards v skyways [1964]
what does subject to contract mean
there is no contractual force
Chillingworth v Esche [1924]
are gifts capable of being contractually bound
no
there is no consideration from both ways
Re: Cory [1912]
what case law states that consideration must pass both ways
Tweddle v Atkinson [1861]
which case law provides the exception that consideration can be past but only with professional services
Sale of Good and Services Act 1982 section 15 and more recently the Consumer Rights Act 2015
or
Re Casey’s Patents [1892] – when past consideration can be good consideration due to professional service, reasonable
which case law states that usually, consideration must not be past
Re McArdle [1951]
