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Law Glossary Flashcards

1
Q

Prima Facie

A

At first glance/On the face of it

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2
Q

Invitation to treat

A

The customer is invited to make the offer

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3
Q

General Offer

A

Offer made to the world at large

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4
Q

Unilateral Offer

A

A promise which demands an act in return

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5
Q

Bilateral Offer

A

A promise which demands a promise in return

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6
Q

Specific Offer

A

A promise made to an individual or a specific group of people

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7
Q

Collateral Offer

A

An offer to form a minor contract in return for a promise to form a major contract.

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8
Q

Consensus Ad Idem

A

Meeting of the minds

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9
Q

Acceptance

A

The final expression of assent to the terms of an offer

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10
Q

Expressly

A

Anything expressly stated via writing or stated orally

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11
Q

Implied

A

Inferred from ones conduct

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12
Q

Waiver

A

One party can forgo their right to have acceptance communicated

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13
Q

Implied term

A

A term not expressly stated but is “understood to exist” by both parties or impose by statute

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14
Q

Rebuttal

A

To provide evidence of the contrary

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15
Q

Intention

A

“I intend that you can sue me if I break my promise”

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16
Q

Freedom of Contract

A

Parties must fully negotiate their contract without any threats/duress being present

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17
Q

Equality of Bargaining

A

Courts protect those who are less equal in a contract

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18
Q

Laissez Faire

A

Courts will not interfere with a bargain (Hands off approach)

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19
Q

Unequivocal

A

Unqualified/Indisputable

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20
Q

Construe

A

Interpret/Criticise

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21
Q

Offer

A

An expression of willingness to contract on certain terms with the intention (Actual or apparent) that it should become binding as soon as it is accepted

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22
Q

Consideration

A

The principle essential ingredient of enforceability

Something of value in the eyes of the law

Quid Pro Quo

A benefit accuring to one or a detriment to the other (Curie v Misa)

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23
Q

Promissory Estoppel

A

A person who promises not to enforce their strict legal rights may be doing so by equity

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24
Q

Privity

A

Only people who supply consideration are parties to a contract

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25
Representation
A statement of fact which induces a person to enter a contract
26
Terms
Contractual promises contained within the contract
27
Condition
Breach which gives rise to the remedy of rescission and damages
28
Warranties
Breach which gives rise to the remedy of damages only
29
Exclusion Clause
"I am not liable to pay damages for a breach of contract"
30
Limitation Clause
"I am liable for a breach of contract but i have put limits on the quantity of damages i can pay you"
31
Penalty Clause
"I agree to suffer a penalty for a breach of contract"
32
Res Extincta
A contract will be void at common law if the subject matter is non-existent
33
Inter Absentes
The party is not present (Ebay)
34
Inter Presentes
The party is physically present (Retail)
35
Void Ab Initio
Void from the beginning
36
Gratuitious Promise
A promise that demands nothing in return
37
Caveat Empto
Buyer beware
38
Trade Puff
Statements made with the intention of enhancing the product
39
Fraudulent
A statement made which is false or without belief in its truth
40
Innocent
One in which the representor can find reasonable grounds to believe in its its truth
41
Negligent
A statement made without reasonable grounds that it is true
42
Rescission
The contract will be void
43
Damages
Compensation will be given to the affected party
44
Indemnity
The contract will continue but any losses suffered will be paid
45
Innominate Term
A term which is not classified by the party themselves/oral/vague/ambiguous/equivocal
46
Contra Proferentem
If a clause in a contract is ambiguous, it should be interpreted against the interest of the person who insisted that the clause be included
47
Common Mistake
When both parties make the same error relating to a fundamental fact
48
Res Sua
Where a person makes a contract to purchase that which belongs to him
49
Mistake as to quality
Will not affect assent unless it is the mistake of both parties and is to the existence of some quality which makes the thing without the quality essentially different from the thing as it was believed to be
50
Mutual Mistake
A mistake is one where both parties fail to understand each other
51
Unilateral Mistake
A case of unilateral mistake is where only one party is mistaken
52
Mistake as to the terms of the contract
Where one party is mistake as to the nature of the contract and the other party is aware of the mistake, the contract is void
53
Mistake as to identity
One party makes a contract with a second party, believing him to be someone else
54
Nemodat Quod Non Habet
No-one sells what he does not have
55
Restraint of trade
One in which a party agrees to restrict their own liberty in the future or to carry on trade with other persons not parties to a contract
56
Raison D'etre
Purpose
57
Executed Consideration
Consideration is exchanged at the time the promises were exchanged
58
Executory Consideration
Consideration is exchanged at some time in the future
59
Past Consideration
An act has already been completed prior to the promise being made
60
Contract
A promise or set of promises enforceable by law
61
Express Terms
Those agreed by the party themselves
62
Implied Terms
Those which are put into the contract by the courts or by statute
63
Innominate Terms
Unclassified whether it is a condition or warranty
64
Statement of Opinion
"Statement of belief on grounds incapable of actual proof"
65
Uberreimae Fidei
Utmost good faith
66
Duress
Where a person enters into an agreement as a result of threats
67
Tort
Where a criminal offence gives rise to a civil action

Contract Law (5 decks)

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