rule and theory of contract law

Question 1

what things have developed the law of contracts

Answer 1

common law
statute law
equity

Question 2

in what way has common law developed contract law

Answer 2

the decisions made by judges and local regions spread and consolidated into the modern law

Question 3

in what way has statute law created contract law

Answer 3

sales of goods act 1979 helped create law on the sale of goods and codify comercial law
eu regulations influenced consumer rights act 2015

Question 4

how has equity developed contract law

Answer 4

proveds a way over overcoming aspects of unfairness in contracts

Question 5

who can take legal action to enforce a contact

Answer 5

a party to a contract

Question 6

what is the burden and standard of proof for contract law

Answer 6

burdern-claiment
standard- ballance of probablities

Question 7

what is an agent

Answer 7

a person authorised to act for another party (the principal) making a contract with 3rd parties

Question 8

who is the contract between even if an agent is used

Answer 8

the principal and 3rd party

Question 9

what are the 5 main points for contract law

Answer 9

formation of a contract
terms of the contract
validity of the agreement
discharge of contract
remidies

Question 10

what are the purpouses of contract law

Answer 10

clarity, security in comercial agreements
efficiant ecnomic activity
remidy breaches

Question 11

what are the 8 theorys underpinning the purpouse of contract law

Answer 11

inequality of barganing power
freedom of contract
good faith
fault
morality
ballancing intrest and justice
relience theory
certanty of terms and consumer protection

Question 12

describe freedom of contract

Answer 12

you should be able to make a contract without interferance of the state
progressively erroded over time-statutory implied terms eg sale of goods act 1979

Question 13

describe inequality of barganing power

Answer 13

can lead to injustice as you cannot bargain w everyone eg large cooperations
some protection eg consumer rights act 2015

Question 14

describe good faith

Answer 14

it is presumed that parties in a contract will deal with each other in good faith
contrary to freedom of contracts and competitive nature of contracts

Question 15

in relation to good faith how can contract law act as a form of corrective justice

Answer 15

civil- damage, restitution
criminal- fraud

Question 16

describe balancing interests and justice

Answer 16

parliment and judges aim to balance the interests of the two parties
can conflict with freedom of contract

Question 17

give two cases that have opposing outcomes as a result of ballancing justice and intrests

Answer 17

olley v marlborough court hotel
thompson v LMS railway

Question 18

describe fault

Answer 18

courts decide degree of responciblity under the law and can chose to award damages if nessccary

Question 19

describe morality

Answer 19

can influence the law
imoral/illegal acts cannot be contracted
freedom of contract is constrained by morality

Question 20

describe reliance theory

Answer 20

specifies what a party will do but this is only based on asumption

Question 21

describe certinty of terms and consumer protection

Answer 21

no cirtanty no contract
implied terms can be in a contract

Question 22

give a case for an invalid offer due to vagueness

Answer 22

Guthing v Lynn

Question 23

what act protect consumers

Answer 23

consumer rights act 2015