689461
Description
Mind Map by louiseebarlow, updated more than 1 year ago
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Created by louiseebarlow
over 10 years ago
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CONTRACT
BASIC CONCEPTS
- Definitions
- A contract is an agreement giving rise to
obligations which can be enforced or
recognised by law
- A unilateral contract - "if you do
something, I promise to do
something in return"
- A bilateral contract - one in which both
parties have obligations
- A contract is an agreement giving rise to
obligations which can be enforced or
recognised by law
- Legal Requirements for
Formation of a Valid Contract
- Agreement (offer and acceptance)
- Intention to create legal relations
- Consideration
- Sometimes consideration
is not necessary (waiver:
Hickman v Haynes) or
agreement by deed
- Sometimes consideration
is not necessary (waiver:
Hickman v Haynes) or
agreement by deed
- Agreement (offer and acceptance)
- Factual Indicators of
Existence of an Agreement
- Offer
- Acceptance
- Offer
- Who can enforce a Contract?
- Doctrine of privity: only the parties to a contract
(Tweddle v Atkinson / Dunlop v Selfridge)
- Exceptions in
Contracts (Rights of
Third Parties) Act
1999
- s1(1)(a) - if the contract says he can
- s1(1)(b) - if the term in question
purports to confer a benefit on him
- s1(2) - TP cannot enforce if
appears the parties did not
intend the TP to enforce
- s1(1)(a) - if the contract says he can
- Doctrine of privity: only the parties to a contract
(Tweddle v Atkinson / Dunlop v Selfridge)
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