L1 - offer and acceptance

Question 1

what is a contract?

Answer 1

• a legally enforceable agreement between 2+ parties
• a promise which the law will enforce
• creation of rights and obligations
• usually enforced by courts at the breach of damages
• agreement must be legal and not against public policy considerations

Question 2

what are the 2 types of contract?

Answer 2

• bilateral
• unilateral

Question 3

what is a bilateral contract?

Answer 3

• both parties make promises and/or undertake obligations

Question 4

what is a unilateral contract?

Answer 4

• only one party is bound by obligations
• commonly used in reward cases

Question 5

cases that related to a bilateral contract?

Answer 5

• Gibson v Manchester City Council 1979

Question 6

cases that relate to a unilateral contract?

Answer 6

• carlin v carbolic smoke ball company 1893
• boweman v association of British travel agents 1996

Question 7

important factors?

Answer 7

• capacity
• mistake
• misrepresentation
• illegality
• potential presence of duress or undue influence

Question 8

what is capacity?

Answer 8

• both parties have to have a good mental capacity to form a contract

Question 9

what is mistake?

Answer 9

• if fundamental, there must be no operative mistake

Question 10

what is misrepresentation?

Answer 10

• misleading the other party

Question 11

what is illegality?

Answer 11

• contrary to public policy

Question 12

what is an agreement?

Answer 12

• principle at the heart of law
• discussions often centre on the individual or obligations each side agrees to be bound by
• a meeting of the minds [aka an agreement in the same thing] = consensus ad idem