Contract Law

Contract Law

Offer
1. A promise for an act
  1. Who is it to?
    1. Individual
    2. Members of a group
    3. The world at large
  2. Unavailable
    1. Revoked
    2. Rejected
    3. Counter-Offer
    4. Time for acceptance passed
2. Invitation to deal
3. Request for more information
4. Acceptance
  1. Positive response
    1. Acceptance of terms
      1. Response to the offer
      2. In accordance with the terms of the offer
      3. Communicated to the offeror
      4. Communicated on time
      5. Communicated in the correct form
      6. Consideration
        Anything specified by promisor
        Not illegal or illusory
        Real and valuable to the promisor
        Given in return for the promise
        Performance of an existing duty
        Performing a public good
        A contractual duty owed to a third party
        Contractual duty owed to a promisor (where there is additional benefit(
        Paying only part of a debt is not good consideration
        Exceptions
        Not required in a formal agreement (deed, doc signed/sealed/delivered)
        Where the promisee has a remedy of promissory estoppel
Intent to create legal relations
1. Objective Test
2. Domestic, family or social arrangements
3. Commercial arrangements
4. Agreements with the Government
5. Agreements with professional associations
Capacity
1. Intoxication
2. Bankruptcy
3. The Crown
4. Companies
5. Minors
6. Mental Incapacity
Formalities
1. Recorded in writing
  1. Land
    1. Instruments Act 1958
    2. Memo recording essential terms
  2. Non-Compliance
    1. Cannot be enforced
      1. Unless part performance operates
      2. Unless Estoppel operates
    2. Rights indépendant of the contract may be enforced

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	Created by Rebecca Richardson about 5 years ago