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630922
A-Level Economics - Contracts
Description
Facts about contracts that are in A-level Economics.
Mind Map by
Chuck Amobi
, updated more than 1 year ago
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Created by
Chuck Amobi
over 10 years ago
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2
0
Resource summary
A-Level Economics - Contracts
Formation of a Contract
1. Offer
2. Acceptance
3. Consideration
4. Legal Capacity
5. Consent
6. Legality of Form
7. Legality of Purpose
Defences Against Formation
1. Lack of Capacity
2. Duress
3. Undue Influence
4. Illusory Promise
5. Statute of Frauds
6. Non est factum
Contract Interpretation
1. Parol Evidence Rule
2.Contract of Adhesion
3. Integration Clause
4. Contra Proferentem
5. Title transfer Theory of Contract
Rights of Third Parties
1. Privity of Contract
2. Assignment
3. Delegation
4. Novation
5. Third Party Benificiary
Breach of Contract
1. Anticipatory Repudation
2. Cover
3. Exclusion Clause
4. Efficient Breach
5. Deviation
6. Fundamental Breach
Remedies for Breach of Contract
1. Specific Performance
2. Liquidated Damages
3. Penal Damages
4. Rescission
Excuses for Non-performance
1. Mistake
2. Misrepresentation
3. Frustration of Purpose
4. Impossibility
5. Impracticality
6. Illegality
7. Unclean Hands
8. Unconscionability
9. Accord and Satisfaction
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