Week 2 Flashcards
Legal subjects
Natural persons
Acting for private purposes
Acting for commercial purposes (“business”)
Legal persons
- Without legal personality (“partnerships”)
- With legal personality (“companies”)
Legal subjects can have possession, control and/or ownership over
objects
Legal objects
- Goods
Tangible vs intangible (incl. documentary intangibles)
Movable vs immovable
Generic vs specific goods - (Animals)
- Services
Types of rights
Real rights:
Right in or over an identifiable asset or group of assets
Personal rights:
Claims on a person
Real rights (types)
Ownership
- Co-ownership
- Versus possession
- Possession vs custody/detain
Real rights of use (easements)
- Ground lease (emphytheusis)
Security rights attached to the object
- Charge by law
When do we have an offer? (Contract info)
Party has an intention to have a contract
The offer containts definite terms (Price)
Even if its free
Can be offer to 1+ persons or public
Offer to sell at specific price set by suppliers
Revoke offer?
An offer may be revoked if the revocation reaches the offeree before it has dispatched its acceptance
Withdraw offer?
An offer, even if it is irrevocable, may be withdrawn if the withdrawal reaches the offeree before or at the same time as the offer
When accepted?
Declaration by offeree(receiver)
Reached the offeror
Unilateral agreement
only one party has certain obligations
Reciprocal agreement
both parties have commitments
Consensual agreement
rule
Formal agreements
Formal requirements (e.g. Mortgage)
Real agreement
by delivery
Intuitu personae
Person of the other party is an essential element
Privity of contract
Only obligations and rights for parties involved (>< third
party)
- Exception: third party claims
Performance under contract
Strict complaince to the execution of the contract
- E.g. By paying the debt
Sanctions in case of breach of contract
- No force majeure
- Formal notice
Legal Facts
Every fact (an event, a condition or an action or omission) to which the law accords legal consequences
Eg.
Event: e.g. birth, death
Condition: e.g. insanity
Action / omission: e.g. tort law
Tort law
Fault
Damages
Causal link between the fault & damages
Legal Acts
Every action (or omission) which is deliberately taken considering the consequences accorded to it by law
- Unilateral: e.g. an offer, a resignation
- Multilateral: e.g. a contract
Legal acts: validity
Conditions for a valid legal act
- Consent
- Object
- Cause
- Ability
The intention of a party to be legally bound is to be determined from
- from the party’s statements, conduct or omission
- as they were reasonably understood by the other party
- Consent may not be defected
Consent: Abscense of defects in intentions
Fraud
Mistake
Violence
Unfair advantages
Conditions for valid agreement
Cause - the reason why you take action (legal act) or enter into an agreement
A party must have ability to take legal action / enter into an agreement (Legal or personal capacity)
Sanctions: Avoidance of the legal act
It sanctions rules that were breached upon the conclusion of a legal act
Retroactive effect
Avoided vs void
2 types:
- absolute
- relative
