BUSL 1

As a general rule, no formalities, except that a contract must be in writing, are required for a contract to be valid.

Contracts for alienation of land must be in writing and signed by the parties or their agents acting on written instructions.

An underlying principle of the law of contract namely, pacta sunt servanda is that agreements concluded should be enforceable.

Supervening impossibility of performance refers to an instance when a voidable contract was concluded but due to an act of God/ State the continuation of performance has become impossible.

Choose the 6 requirements for an offer and acceptance to be binding:

Choose the requirements in order for duress to be present in the formation of a contract and to render such contract voidable:

Essentialia are terms automatically incorporated into the contract as implied terms, unless they are excluded by the parties to the particular contract.

Naturalia are essential terms identify the contract as being a certain kind of contract, for example a contract of sale, employment, credit or lease.

A condition is a contractual term that renders the operation of a contract and consequences of a contract dependent on the occurrence or non-occurrence or a specified uncertain future event.

A suspensive time clause stipulates the duration of the contract, after which it ceases.