452503
| Question | Answer |
| What is a contract and what does it take to make one? | A legally binding agreement. Offer + acceptance + consideration = Contract |
| How can contracts be made? | Contracts may be in writing, or oral, or may be inferred from conduct |
| What are the sources of contract law? | 1) Mainly common law 2) Statutes 3) EU Law |
| What are a few examples of contracts? | Sale of goods, Employment contracts, Sale of land |
| What is an offer? | An offer is a proposition made by one party to another on terms that are fixed or capable of being fixed with the intention that it will be binding on him when accepted by the other person |
| What is an offeror? | The party making the offer |
| What is an offeree? | The party to whom the offer is made |
| What is an invitation to treat? | An expression of willingness to enter negotiation i.e. advertisements |
| What is the difference between an offer and an invitation to treat? | The intention: In an invitation to treat you are only expressing your willingness to enter negotiation, it is up to you to decide whether you want to form the actual contract or not as seen in Fisher v Bell |
| What is a unilateral offer? | An offer made to more than one individual which can be accepted by anyone through embarking upon performance i.e. finding lost cats A case for this would be Carlill v Carbolic Smoke Ball |
| An offer must be communicated because... | You cannot ‘accept’ an offer you know nothing about |
| What is a request for information? | It is an attempt to find out more information about the terms of the contract and it does not act as a counter offer as seen in Stevenson v Mclean |
| Until what point can an offer be withdrawn? | An offer may be revoked or withdrawn by the offeror at any time before it is accepted as seen in Dickinson v Dodds |
| What is a counter offer? | A counter offer rejects the original offer in an attempt to bargain and replaces the original offer which means that you cannot return to the old offer as seen in Hyde v Wrench |
| According to what case must the withdrawal of an offer be effectively communicated? | Bryne v Van Tienhoven |
| What is a tender? | A tender is an estimate given in response to a request as seen in Spencer v Harding |
| How can acceptance be made? | By conduct, verbally or in writing as seen in Brogden v Metropolitan Railway where acceptance was made by conduct |
| Can acceptance be made through silence? | No it cannot as seen in Felthouse v Bindley |
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