RC Steenkamp 24 April 2018
|
|
- Hugo Clark
- 5 years ago
- Views:
Transcription
1 RC Steenkamp 24 April 2018
2 REFRESHER What are the essential elements of a legally binding contract? Contents of the contract? Express vs implied terms Type of implied terms? Conditions, warranties and innominate terms? Contracts in favour of third parties examples?
3 CONTRACTS AND THIRD PARTIES Privity of contract : General rule regarding all contracts? What is the legal effect of consent? Exceptions? Agency: Relationship whereby the agent is entitled to act as a representative of the principal Effect on the relationship between: Third party and agent? Agent and principal? Principal and third party? Image: KHTbmCG0Q_AUICigB&biw=1680&bih=944#imgrc=ktTIiF-JBjwC6M
4 VOID, VOIDABLE AND UNENFORCEABLE Contracts which have fulfilled all necessary/formal requirements and which are enforceable in law are considered VALID However, contracts can also be: 1. Void; 2. Voidable; or 3. Unenforceable Image: =checklist+fulfilled&oq=checklist+fulfilled&gs_l=psy-ab c.1.64.psy-ab i13k1.0.3XcZLZ69aIA#imgdii=QcN8A-kYFN7BBM:&imgrc=2yCykiu2eCk7LM:
5 What is the effect of this on the remedies available to the parties? Image: assassin+contract&oq=assassin+con&gs_l=psy-ab.1.3.0l5j0i30k1l2j0i5i30k1l c.1.64.psy-ab fbzwahdueny#imgrc=7wv_a-g4vblhim: 1 VOID CONTRACTS Agreement which was intended to be legally binding between the parties but is in fact not a valid contract at all Such contracts produce no legal effects Hit man contract is the most common example Does this mean that all void contracts are illegal? Or that all illegal contracts are void? Contract that is void ab initio?
6 2 VOIDABLE CONTRACTS Unlike void contracts, voidable contracts are still valid contracts The consent of the aggrieved party has been influenced Parties decide whether or not the legal obligations enshrined in the contract should continue to exist The right of election aggrieved party is entitled to avoid or affirm Aggrieved party is entitled to either give full legal effect to the contract or to rescind the contract What does rescission mean?
7 3 UNENFORCEABLE CONTRACTS Void contracts are always unenforceable However, certain contracts may neither be void nor voidable but may still be unenforceable Limitation periods for enforcement? Image: ct+guarantee&sourc e=lnms&tbm=isch& sa=x&ved=0ahuke wjj15evundaahxnb VAKHTLaBKcQ_AUIC igb&biw=1680&bih= 944#imgdii=uKt5cpf K0amGuM:&imgrc= kk9cnxl3j4vxlm: Image: AhXNbVAKHTLaBKcQ_AUICigB&biw=1680&bih=944#imgdii=fF_31jWdLcGS1M:&imgrc=2sX2wVzvC_t6EM:
8 VOID OR VOIDABLE? Several reasons could render a contract void or voidable: 1. Capacity; 2. Illegality; 3. Mistake; 4. Misrepresentation; 5. Duress; 6. Undue influence
9 1 CAPACITY Capacity refers to the ability of a person to enter into a binding contract General rule? Most common exceptions to the general rule? Such persons are unable to form the necessary intention Legal policy therefore attempts to protect such people from their own inexperience Void or voidable? Image: oq=drunk&gs_l=psy-ab.3..0i67k1l2j0l c.1.64.psyab o8p8ay0laha#imgrc=lt2lyesief-dom:
10 2 ILLEGALITY Principle of freedom of contract? Contracts concluded for the purposes of illegal activities will not be enforced by the law Two types of illegality Illegality is the aim of the contract gun for hire; Illegality which results when a contract is against public policy Void or voidable?
11 3 MISTAKE Error in the meaning of words, laws, or facts which results in one or more of the parties not fully understanding their duties or obligations under the contract 3 types of mistake: 1. Unilateral mistake; 2. Common mistake; 3. Mutual mistake Void or voidable? Image:
12 4 MISREPRESENTATION False statement of past or existing fact made by one party before or at the time the contract is made Addressed to the other party; and Persuades other party to enter into the contract Must induce a reasonable person to enter the contract Types of misrepresentation: Fraudulent; Negligent; and Innocent Void or voidable? Image: EsjOwAKG04D4DQ&q=bad+conscience&oq=bad+cons&gs_l=psyab.3.1.0l j c.1.64.psyab i67k1.27.7mEp9fWdzEI#imgrc=to7NOY7kljpiaM:
13 5 DURESS Threat used to force someone to enter into a contract Is actual or threatened physical violence required? Is economic duress possible? In order to prove duress, it needs to be asked whether the conduct in question resulted in a coercion of the will which vitiates consent What does this mean? There is a large difference between a gun to the head and being subject to a pushy salesman Void or voidable? Image: XjpWruFAY6csAfTlKl4&q=money+tied+up&oq=money+tied+up&gs_l=psyab.3..0j0i24k1l j c.1.64.psy-
14 6 UNDUE INFLUENCE Consent is obtained by some form of pressure which is not duress Difference between undue influence and duress? Strong recommendations or opinions will not necessarily result in undue influence A person s sense of free choice must be affected Presumption of undue influence? Void or voidable? Image: fifa&oq=zapiro+fifa&gs_l=psy-ab j c.1.64.psyab j0i67k1j0i30k1j0i24k1.0.rdzpwnjw7wm#imgrc=nhuecbnee_j7om:
15 DURESS VS UNDUE INFLUENCE? Duress Involves threats or coercion Narrower concept Must be claimed by the person claiming to have been pressured Undue Influence Involves taking advantage of a position of trust Wider concept (includes behavior that is wrongful but which is not necessarily duress) In certain relationships, undue influence can be presumed
16 END OF THE CONTRACT A contract can come to an end in the following ways: 1. Performance; 2. Breach; 3. Frustration
17 1 PERFORMANCE Parties fulfil their duties and/or obligations under the treaty What about a slight difference in what was agreed under the contract? Even if commercially insignificant? Malperformance vs non-performance? Image: performance&oq=performance&gs_l=psy-ab.3..0l c.1.64.psyab i67k1.0.ziqyizi4n7g#imgrc=fmrxsjxtaers4m:
18 2 BREACH Parties fail to fulfil their contractual obligations without having a lawful excuse to do so Abbie enters into a contract that requires performance on 27 April It is 24 April 2018 and Abbie has still not performed. Is she in breach of the contract? Party is not in breach of a contract until his/her performance is due under the contract Anticipatory breach? Party who incapacitates him/herself from performance?
19 3 FRUSTRATION Certain events may occur which frustrate the contract after its conclusion Such frustration is not the fault of any of the parties to the contract This doctrine is applicable where the event either: Renders contractual obligations impossible; or Radically changes the party s principal purpose for entering into the contract Shipping contracts? Image: go+shipping&oq=cargo+shipping&gs_l=psy-ab.3..0l c psy-ab i13k1j0i7i30k1.0.OJDvTe4LHrQ#imgrc=DULB0c799X_2EM:
20 REMEDIES FOR BREACH Traditionally, three remedies are available for a party to make use of when a contract has been breached: 1. Damages; 2. Specific Performance; 3. Restitution Image: tion&gs_l=psy-ab.3..0l c.1.64.psy-ab i67k1.0.tostxjifulg#imgrc= vkgxa86ixqcezm:
21 1 DAMAGES Main remedy for breach of contract under English common law Differentiate between damage (singular) and damages (plural) Damage is loss, injury or harm (to person or to property) Damages refers to monetary compensation has to be paid for one person causing damage to another Purpose/Aim of this remedy?
22 2 SPECIFIC PERFORMANCE This remedy is usually used when: The subject of the contract is unique; The true amount of damages is unclear Therefore, it is a specialised remedy that is used when no other remedy (such as money) will adequately compensate the other party Only granted when damages are inadequate to compensate the aggrieved party Image: A43UwQLh-b4Q&q=rare+collectible+coins&oq=rare+collectible+&gs_l=psy-ab i67k1j0l5j0i8i30k1j0i24k1l c psy-ab v8EuJ0v_bhk#imgdii=cOhWC1XRGjBoAM:&imgrc=WcZVY59OCF aavm:
23 3 RESTITUTION One party performs all or part of his/her obligations without receiving counter performance The non-breaching party is put back into the position they would have been in had the contract never taken place Non-breaching party already paid a sum of money Consequence? Breaching party received some other benefit Consequence?
24 QUESTIONS? Karl wants to buy a house in Hamburg. Karl contacts John, a realtor, and arranges to see several houses that are on sale in Hamburg. After picking out the house he likes, Karl asks the owner if the house has a termite problem. The house does have a termite problem but the owner, knowing that Karl will not buy the house if he knows about the termite problem, tells Karl that there is no termite problem. Karl and the owner sign a contract under which Karl will buy the house for $250,000. What type of misrepresentation is this? Fraudulent misrepresentation. After the contract is signed, Karl finds out about the termite problem. In this case, the contract will be voidable by Karl because the owner made a fraudulent misrepresentation that Karl relied on and, based on that misrepresentation, Karl entered into the contract.
25 QUESTIONS? Karl finds a house that he would like to buy and enters into a contract to buy it for $250,000. Karl never asks about any termite problems and the owner never volunteers that there is a termite problem. Karl buys the house and then finds out that there is an extensive termite problem. Is this non-disclosure or a misrepresentation? Non disclosure In this case, Karl can void the contract. Given the owner s special position as the home owner, he had an obligation to let Karl know about the termite problem
26 QUESTIONS? What is the difference between undie influence and duress? See the table
27 QUESTIONS? Susan reluctantly places her aged mother in a nursing home because she can no longer care for her mother 24/7 and needs to work to pay the bills. One week later, Susan visits her mother for the first time and notices that all of her Mother s jewellery is missing. When Susan reports this to the nursing home management, she is shown contracts signed by her mother whereby her mother agreed to give up thousands of dollars worth of jewellery for special treatment by the staff, i.e. priority at the dining room, use of the nicest chair, and selection of T.V. programs on the communal TV. Given that the staff has a special position of power and control, such contracts for the sale of mother s jewellery will be voidable due to undue influence
28 QUESTIONS? Discuss specific performance as a remedy for breach of contract See slides and class discussion
29 Image: 680&bih=944&tbm=isch&sa=1&ei=yk 3eWtGeHMrOwQKt8574Dw&q=thank +you&oq=thank+you&gs_l=psyab.3..0i67k1l2j0j0i67k1l2j0l2j0i67k1l c.1.64.psyab RoQljqe0zyg#imgrc=if 9vH_U2SKRacM:
CONTRACT LAW IN THE SOUTH PACIFIC
CONTRACT LAW IN THE SOUTH PACIFIC Jennifer Corrin Care Senior Lecturer TC Beirne School of Law University of Queensland Cavendish Publishing Limited London Sydney CONTENTS Preface Table of Cases Table
More informationCONTRACT LAW SUMMARY
CONTRACT LAW SUMMARY LAWSKOOL UK CONTENTS INTRODUCTION TO CONTRACT LAW 6 DEFINITION OF CONTRACT LAW 6 1) The Classical Model of Contract Law 6 INTENTION TO CREATE LEGAL RELATIONS 8 INTRODUCTION TO INTENTION
More informationLEVEL 4 - UNIT 1 CONTRACT LAW SUGGESTED ANSWERS JANUARY 2015
Note to Candidates and Tutors: LEVEL 4 - UNIT 1 CONTRACT LAW SUGGESTED ANSWERS JANUARY 2015 The purpose of the suggested answers is to provide students and tutors with guidance as to the key points students
More informationAN INTRODUCTION TO THE LAW OF CONTRACT
AN INTRODUCTION TO THE LAW OF CONTRACT P. S. ATIYAH Formerly Professor of English Law in the University of Oxford FIFTH EDITION CLARENDON PRESS OXFORD 1995 Contents Table of Cases i. The Development of
More informationCONTRACT LAW. Elements of a Contract
CONTRACT LAW Contracts: Types and Sources in Australia CONTRACT: An agreement concerning promises made between two or more parties with the intention of creating certain legal rights and obligations upon
More informationMISTAKE. (1) the other party to the contract knew or should have known of the mistake; or
MISTAKE Mistake of Fact: The parties entered into a contract with different understandings of one or more material facts relating to the contract s performance. Mutual Mistake: A mistake by both contracting
More informationCHAPTER 2 CONTRACT LAWS INDIAN CONTRACT ACT, A contract is an agreement made between two or more parties which the law will enforce.
CHAPTER 2 CONTRACT LAWS INDIAN CONTRACT ACT, 1872 Definition of Contract A contract is an agreement made between two or more parties which the law will enforce. Sec 2(h) defines contract as an agreement
More informationCONTRACT. What is a contract?
CONTRACT What is a contract? 2 Definition of a contract A legally binding agreement that means there must be some kind of agreement between two parties However, not all agreements are contracts because
More informationLAW OF CONTRACT (PART II) Shanila H. Gunawardena LL.B. (Hons.) (Colombo) Attorney-at-Law, CTA (CASL)
LAW OF CONTRACT (PART II) Shanila H. Gunawardena LL.B. (Hons.) (Colombo) Attorney-at-Law, CTA (CASL) 06-08-2017 (2) AGREEMENT BETWEEN PARTIES -ACCEPTANCE- Postal Rule on Acceptance (2) AGREEMENT BETWEEN
More informationQuestion 1: I read that a mentally impaired adult s contracts may be void or voidable. Which is it?
Question 1: I read that a mentally impaired adult s contracts may be void or voidable. Which is it? Answer 1: It depends. If a court of proper jurisdiction has found an adult to be non compos mentis, or
More informationReality of Consent. Reality of Consent. Reality of Consent. Chapter 13
Reality of Consent Chapter 13 Reality of Consent It is crucial to the economy and commerce that the law be counted on to enforce contracts. However, in some cases there are compelling reasons to permit
More informationOVERVIEW OF CONTRACT LAW
OVERVIEW OF CONTRACT LAW Liability is generally the key issue in regards to contractual disputes. Purpose of K law is to provide the rules which determine when one party is liable to another under or in
More informationContents. Table of Statutes. Table of Secondary Legislation. Table of Cases. The Agreement to Contract
Contents Table of Statutes Table of Secondary Legislation Table of Cases Chapter 1: The Agreement to Contract 1.1 Introduction 1.2 Elements required for a valid simple contract 1.3 The phenomenon of agreement
More informationa) The body of law as made by judges through the determination of cases. d) The system of law that emerged following the Norman Conquest in 1066.
1. Who of the following was NOT a proponent of natural law? a) Aristotle b) Jeremy Bentham c) St Augustine d) St Thomas Aquinas 2. The term 'common law' has three different meanings. Which of the following
More informationGenuineness of Assent
Genuineness of Assent A party who demonstrates that she did not genuinely assent to the terms of a contract may avoid an otherwise valid contract. Genuine assent may be lacking due to mistake, fraudulent
More informationStudy Notes & Practice Questions. Updated 2018 Exams
Orea Real Estate Exam Course Study Notes & Practice Questions Updated 2018 Exams All rights reserved. No part of this publication may be reproduced, transmitted or stored in any material form (including
More informationAn Introduction to the Law of CONTRACT STEPHEN GRAW
An Introduction to the Law of CONTRACT by STEPHEN GRAW B.Com., LL.B. (Qld) Solicitor of the Supreme Court of Queensland Associate Professor of Business Law, James Cook University of North Queensland SECOND
More informationApplied Business Law. Syllabus
Applied Business Law Syllabus Applied Business Law Module outline and aims The module provides a general framework of the legal principles underpinning business law, as appropriate to the role of the Chartered
More informationLEARNING UNIT 2: THE LAW OF CONTRACT
LEARNING UNIT 2: THE LAW OF CONTRACT OBJECTIVES: Describe the essentials of a valid contract Explain the difference between a valid, void and voidable contract Explain the contractual capacity of minors
More informationClass B.Com. I Sem. (Hons.)
SYLLABUS Class B.Com. I Sem. (Hons.) Subject Business Regulatory Framework UNIT I UNIT II UNIT III UNIT IV UNIT V Contract Act 1872 Definition nature of contract, offer and acceptances capacity of parties
More informationBUSINESS AND CORPORATE LAW NOV 2010
BUSINESS AND CORPORATE LAW NOV 2010 SOLUTION 1 a) Limitation of actions requires that since there must be an end to litigation, certain classes of lawsuits must be brought within a fixed period of time,
More informationDefine genuine agreement and rescission. Identify when duress occurs. Describe how someone may exercise undue influence.
Define genuine agreement and rescission Identify when duress occurs Describe how someone may exercise undue influence. Genuine Agreement/Assent: meeting of the minds Must be willful and voluntary Must
More informationTABLE OF CONTENTS. Preface... iii Preface to the First Edition... v Table of Cases... TC-1 Table of Statutes... TS-1
TABLE OF CONTENTS PAGE Preface... iii Preface to the First Edition... v Table of Cases... TC-1 Table of Statutes... TS-1 PART I. INTRODUCTION... 1-17 CHAPTER 1. INTRODUCTION... 1 PART II. ENFORCEABILITY...
More informationCONTRACT LAW (2) Il est précisé que le thème «CONTRACT LAW» est abordé à travers 2 fiches, cette fiche étant la seconde. I. VALIDITY OF THE CONTRACT
CONTRACT LAW (2) Il est précisé que le thème «CONTRACT LAW» est abordé à travers 2 fiches, cette fiche étant la seconde. Plan : I. VALIDITY OF THE CONTRACT II. LEGALITY OF THE SUBJECT MATTER III. REALITY
More informationActivity to Develop and Demonstrate Competence. Describe the different categories of law
Paper 6 Hong Kong Business Law Aim This paper aims at providing students with an awareness of the overall legal framework in which business in Hong Kong operates and at enabling them to apply the relevant
More informationARCHITECTS REGISTRATION COUNCIL SEMINARS
ARCHITECTS REGISTRATION COUNCIL SEMINARS CONTRACT FORMATION FRED PHIRI ARCH.Bw May 27, 2017 1 Contents Legal Systems Legal Systems Examples Legal System Applications Civil Law Relationships Law of Obligations
More informationCourse Outline Credits Class Hours Laboratory Hours
1 Mercer County Community College Course Outline BUS 107 Course Number Business Law I Course Title 3 3 0 Credits Class Hours Laboratory Hours Online Alternate Delivery Method Texts: Title: Introduction
More informationCHAPTER 8: GENUINE AGREEMENT
CHAPTER 8: GENUINE AGREEMENT GENUINE AGREEMENT AND RESCISSION A valid offer and valid acceptance generally results in an enforceable contract. If one of the parties used physical threats to acquire the
More informationUndue Influence, Mistake, Misrepresenta3on & Fraud. Chapter 7 Genuine Assent
Undue Influence, Mistake, Misrepresenta3on & Fraud Chapter 7 Genuine Assent Aim: What is undue influence? Identify two key elements of undue influence. Do Now: Take out your notebook and copy down the
More informationFRAUDULENT MISREPRESENTATION
FRAUDULENT MISREPRESENTATION Author: Nasser Hamid Binding: Softcover, 500 pages Publication Price: MYR 200.00 CONTENTS Chapter 1 STATEMENTS, REPRESENTATIONS AND FRAUD Representation Misrepresentation Fraudulent
More informationGenuine Agreement (Genuine Assent)
Chapter 7 Genuine Agreement (Genuine Assent) Business Law Ms. Turner Genuine Agreement (Genuine Assent) Agreement to enter into a contract that is evidenced by words or conduct between parties If there
More informationIs there a contract?
1. te whether this transaction is governed by UCC or the Restatement. 2. Does the Statute of Frauds apply? The contract must be in writing if it is in regard to land, if by its nature it takes more than
More information2. For an acceptance to be valid, it must be to the offeror A. Sent B. Advertise C. Communicated D. Shown
INSTITUTE OF CHARTERED ACCOUNTANTS OF NIGERIA BUSINESS LAW WEEK 3 QUESTIONS TOPIC: LAW OF CONTRACT 1 Kindly go through chapter 3 in the video lecture before you attempt the questions because the topic
More informationCOMM 393: COMMERCIAL LAW MIDTERM REVIEW SOLUTIONS BY: GABRIEL CHEUNG
COMM 393: COMMERCIAL LAW MIDTERM REVIEW SOLUTIONS BY: GABRIEL CHEUNG TABLE OF CONTENT I. The Constitution Act & Charter of Rights and Freedoms II. Intent, Offer, Writing & Acceptance III. Consideration
More informationIntroduction to Contract Law
Introduction to Contract Law Introduction to Contract Law Acknowledgments Writer: Editor: Word processing & Graphics: Alicia Hutton, Mandy Welling REIT Professional Development Departments Version Number:
More informationContents. Table of Statutes. Table of Secondary Legislation. Table of Cases. The Agreement to Contract
Contents Table of Statutes Table of Secondary Legislation Table of Cases Chapter 1: The Agreement to Contract 1.1 Introduction 1.2 Elements required for a valid simple contract 1.3 The phenomenon of agreement
More informationUNIT I INDIAN CONTRACT ACT, 1872
CONTENTS About the Author I-5 Preface to Sixth Edition I-7 Syllabus I-9 Chapter-heads I-13 List of Cases I-31 UNIT I INDIAN CONTRACT ACT, 1872 1 ICA, 1872 : NATURE, MEANING, ESSENTIALS AND KINDS OF CONTRACT
More informationTorts & Contracts II
LAWS5006 Torts & Contracts II Problem question scaffold Issue: some sort of error/mistake can the contract be set aside? CONTRACT SOLUTION When you think a mistake is present, first assess whether there
More informationANSON S LAW OF CONTRACT. 29th Edition SIR JACK BEATSON
ANSON S LAW OF CONTRACT 29th Edition SIR JACK BEATSON DCL, LLD, FBA A Justice of the High Court, Queen's Bench Division sometime Rouse Ball Professor of English Law, University of Cambridge ANDREW BURROWS
More informationContractual Remedies Act 1979
Reprint as at 1 September 2017 Contractual Remedies Act 1979 Public Act 1979 No 11 Date of assent 6 August 1979 Commencement see section 1(2) Contractual Remedies Act 1979: repealed, on 1 September 2017,
More information1 of 5 8/27/2014 2:11 PM Units: Teacher: LawandJustice, CORE Course: LawandJustice Year: 2012-13 Constitutional Law and Justice process of ethical decision-making and how does this process relate to law?
More informationBLAW BUSINESS LAW, SECTION B3
UNIVERSITY OF ALBERTA School of Business Department of Marketing, Business Economics and Law BLAW 301 - BUSINESS LAW, SECTION B3 Professor: Ivan Ivankovich Course Outline Class: TR 9:30-10:50 Term 2, Winter
More informationTable of Contents. The Authors 3. List of Abbreviations 13. Preface 15. General Introduction 17. Introduction to the Law of Contracts 27
The Authors 3 List of Abbreviations 13 Preface 15 General Introduction 17 1. THE GENERAL BACKGROUND OF THE COUNTRY 17 I. Geography 17 II. Cultural Composition 17 III. Political History 18 IV. Political
More informationCONTRACTS COMPLETE EXAM NOTES
CONTRACTS COMPLETE EXAM NOTES 1 2 LATIN TERMINOLOGY:... 11 1A. OFFER... 14 Offer... 14 RULES AS TO OFFER... 15 UNILATERAL CONTRACT... 15 BILATERAL CONTRACT... 15 OFFERS NEED TO BE DISTINGUISHED FROM THE
More informationLEVEL 3 - UNIT 2 CONTRACT LAW SUGGESTED ANSWERS JANUARY 2016
Note to Candidates and Tutors: LEVEL 3 - UNIT 2 CONTRACT LAW SUGGESTED ANSWERS JANUARY 2016 The purpose of the suggested answers is to provide students and tutors with guidance as to the key points students
More informationDistrict > Intermediate > Business Education > Business Law ( ) (District) > Juett, David
Granite School District Business Law (52.0441) (District) District > Intermediate > Business Education > Business Law (52.0441) (District) > Juett, David Unit Essential Questions Content Skills Vocabulary
More informationCA-CPT MERCANTILE LAWS BY CA. ARVIND SINGHAL
CA-CPT MERCANTILE LAWS BY CA. ARVIND SINGHAL P a g e 1 PART A INDIAN ACT, 1872 1. NATURE OF 2. OFFER AND ACCEPTANCE 3. CONSIDERATION 4. CAPACITY OF THE PARTIES 5. FREE CONSENT 6. LAWFUL CONSIDERATION AND
More informationMLL111- Exam Notes Contract Law (All Topics + Cases)
1 MLL111- Exam Notes Contract Law (All Topics + Cases) 2 Contents Page Page 8: Formation of Contracts Offer and Acceptance Page 9: Acceptance Communication of Acceptance: Waiver Silence Page 10: Acceptance
More informationSession 34. Contract Law 1 Contracts in general
Session 34 Contract Law 1 Contracts in general Concluding a contract A contract is concluded when the parties have expressed their willingness in a mutual agreement (CO, art 1; CCQ, s1378). In order to
More informationCA CPT Law PERFORMANCE, DISCHARGE AND BREACH OF CONTRACTS
CA CPT Law PERFORMANCE, DISCHARGE AND BREACH OF CONTRACTS Test ID :069 Date : 20/09/2017 Time :00:57:00 Instruction for Qusetion 1 To 50 MCQ Qn.1) damages are measured on the basis of extent of shock to
More informationBARRY ALLAN CONTACT PART II. Introduction 1. OBJECTIVE THEORY OF CONTRACT 2. A MODEL OF CONTRACT
BARRY ALLAN CONTACT PART II Introduction 1. OBJECTIVE THEORY OF CONTRACT We use the objective principle to decide whether there has been an agreement, consideration and intention to be bound between the
More information64 Contractual Remedies 1979, No. 11
64 Contractual Remedies 1979, No. 11 ANALYSIS 8. Rules applying to cancellation 'fitle 9. Power of Court to grant relief 1. Short Title and commencement 10. Recovery of damages 2. Interpretation 11. Assignees
More informationChinese Contract Law: A Brief Introduction. ZHANG Xuezhong. Assistant Professor of Law.
Chinese Contract Law: A Brief Introduction ZHANG Xuezhong Assistant Professor of Law zhangxuezhong@ecupl.edu.cn East China University of Politics and Law Overview 1. In General 2. Principles of Chinese
More informationSpring 2018 Business Law Fundamentals O'Hara 2018 D
Page 1 of 7 as your signature PRINT your name EXAM #2 Business Law Fundamentals LAWS 3930 sections -001, -002-003 Chapters 1-4, 24, 6, 7, 9-19 INSTRUCTIONS: 1. Affix your printed name as your signature
More informationChapter 9: Contract Formation. Copyright 2009 South-Western Legal Studies in Business, a part of South-Western Cengage Learning.
Chapter 9: Contract Formation a Copyright part of South-Western 2009 South-Western Cengage Legal Learning. Studies Business, Introduction is a declaration that something will or will not happen in the
More informationDischarge of Contract Performance, Breach, Frustration Introduction
Discharge of Contract Performance, Breach, Frustration Introduction Discharge of a valid contract involves the process under which the primary (performance) obligations come to an end. Discharge by breach
More informationNDIS: CLIENT SERVICE AGREEMENTS
The Federal Government s NDIS interstate trials are proving to raise significant issues and challenges for service providers, including the critical need for the client service agreements to specify clearly
More informationSYLLABUS Class: - B.B.A. IV Semester Subject: - Indian Legal System for Business
SYLLABUS Class: - B.B.A. IV Semester Subject: - Indian Legal System for Business UNIT I The Indian Contract Act, 1872: Essentials of a Valid Contract, Void and Voidable Agreements, Performance of Contracts,
More informationThis quiz differed from previous quizzes in focusing more on the specific cases read.
Contracts 2, Week 3 Class 1 SQ = student question Announcements: - Review session Mon. Nov. 4, probably at 430-630 (but may change to 530-730). Will be recorded. - Example 6 on LibGuides - will discuss
More informationTHE CYPRUS INSTITUTE OF MARKETING DMM COMMERCIAL LAW
THE CYPRUS INSTITUTE OF MARKETING DMM COMMERCIAL LAW INTRODUCTION 18 LECTURES CIM BOOKLET + TEXT BOOK ATTENDANCE CONTACT yangos@cima.ac.cy COURSE ASSESSMENT 1. ASSIGNMENT No1. 7.5 % 2. ASSIGNEMENT No2.
More informationCreation of the K a. Statute of Frauds land part performance one year debt 500 b. Offer master of the offer revoke mailbox rule absence of terms
Contracts outline I. Creation of the K a. Statute of Frauds requires that a sufficient writing, signed by the party to be charged be in existence for the following subject-matter (doesn t apply to restitution
More informationUnit 1 Legal Aspects of Business: Law of Contract. Learning Objectives. Legal Aspects of Business: Law of Contract
Unit 1 Law of Contract Learning Objectives After completion of the unit, you should be able to: Explain the meaning, essentials and classification of contracts. Describe the eligibility for capacity to
More informationCHAPTER 4 CONCEPT OF CONSENSUS CONSENSUS AS BASIS FOR CONTRACTUAL COMMITMENT INTENTION TO BE CONTRACTUALLY BOUND MAKING INTENTION KNOWN COMMON
CHAPTER 4 CONSENSUS AS BASIS FOR UAL COMMITMENT MAKING INTENTION KNOWN CONCEPT OF CONSENSUS INTENTION TO BE UALLY BOUND COMMON INTENTION CONSENSUS / TRUE AGREEMENT = BASIS FOR EVERY (C) EVERY PARTY MAKES
More informationCONTRACT LAW. Promisor - Person making the proposal Promisee - Person accepting the proposal Promise - Proposal when accepted becomes a promise
CONTRACT LAW Promisor - Person making the proposal Promisee - Person accepting the proposal Promise - Proposal when accepted becomes a promise Note: Acceptance of proposal or acceptance of promise can
More informationTITLE 7 CONTRACTS TABLE OF CONTENTS
TITLE 7 CONTRACTS TABLE OF CONTENTS CHAPTER 7.01 General Provisions 7.0101 Definition 1 7.0102 Essential elements of a contract 1 7.0103 Law of place applied to contracts 1 7.0104 Time of performance 1
More informationUniversity of Miami School of Law. CONTRACTS PROFESSOR ROBERT ROSEN Fall Syllabus 1
University of Miami School of Law CONTRACTS PROFESSOR ROBERT ROSEN Fall 2007 Syllabus 1 [Unless otherwise indicated, all page # s refer to MACAULEY, ET.AL. CONTRACTS: LAW IN ACTION (2 ND ED., 2003)]. YOU
More informationLEVEL 3 - UNIT 2 CONTRACT LAW SUGGESTED ANSWERS - JANUARY 2013
Note to Candidates and Tutors: LEVEL 3 - UNIT 2 CONTRACT LAW SUGGESTED ANSWERS - JANUARY 2013 The purpose of the suggested answers is to provide students and tutors with guidance as to the key points students
More informationLEVEL 3 - UNIT 2 LAW OF CONTRACT SUGGESTED ANSWERS - JUNE 2014
Note to Candidates and Tutors: LEVEL 3 - UNIT 2 LAW OF CONTRACT SUGGESTED ANSWERS - JUNE 2014 The purpose of the suggested answers is to provide students and tutors with guidance as to the key points students
More informationThe Objective Principle of a Promise... 2 Intention to Create Legal Relations... 4 Offer and Acceptance... 5
1 Contents The Objective Principle of a Promise... 2 Intention to Create Legal Relations... 4 Offer and Acceptance... 5 Offer vs. Invitation to Treat... 5 Termination/Lapse of Offer... 6 Acceptance of
More informationQUESTION What contract rights and remedies, if any, does Olivia have against Juan? Discuss.
QUESTION 1 Olivia is a florist who specializes in roses. She has a five-year written contract with Juan to sell him as many roses as he needs for his wedding chapel. Over the past three years, Olivia sold
More informationIllegality. Illegality. Meaning of Illegality. Irwin/McGraw-Hill 2001 The McGraw-Hill Companies, Inc. All Rights Reserved.
Illegality Chapter 15 (8) Slide 1 Illegality When an agreement involves an act or a promise that violates some legislative or court-made rule, agreement will not be enforceable on ground of illegality
More informationLAW5005: PRINCIPLES OF CONTRACT LAW B EXAM NOTES
LAW5005: PRINCIPLES OF CONTRACT LAW B EXAM NOTES Table of Contents Overview of Contracts B... 1 Termination... 3 Express termination... 3 Termination for breach of contract... 3 Repudiation... 4 Unwillingness
More informationCONTRACT AND AGENCY. Types of a consideration Three types: 1. Past, 2. Present, and 3. Future.
CONTRACT AND AGENCY Contract An agreement enforceable by law is called a contract. Therefore in a contract, there must be 1. An agreement; 2. The agreement must be enforceable by law. There some agreements
More informationLEVEL 3 - UNIT 2 CONTRACT LAW SUGGESTED ANSWERS - JUNE 2013
Note to Candidates and Tutors: LEVEL 3 - UNIT 2 CONTRACT LAW SUGGESTED ANSWERS - JUNE 2013 The purpose of the suggested answers is to provide students and tutors with guidance as to the key points students
More informationMGT611 Business & Labor Law Solved Objective For Final Term Exam Preparation
MGT611 Business & Labor Law Solved Objective For Final Term Exam Preparation 1. The consideration in a contract must be: Of adequate value to promise Enforced by courts of law Of high worth to promise
More informationMBE WORKSHOP: CONTRACTS PROFESSOR LISA MCELROY DREXEL UNIVERSITY SCHOOL OF LAW
MBE WORKSHOP: CONTRACTS PROFESSOR LISA MCELROY DREXEL UNIVERSITY SCHOOL OF LAW CHAPTER 1: CONTRACTS Editor's Note 1: The below outline is taken from the National Conference of Bar Examiners' website. NOTE:
More informationB. The Parties wish to avoid the expense and uncertainty of further litigation without any
SETTLEMENT AGREEMENT AND RELEASE This Settlement Agreement and Release ("Settlement Agreement") is entered into by and between the Elbert County Board of County Commissioners (the "County") and the Elbert
More informationLIABILITY IN RESPECT OF OFFERING OF INTERESTS IN A CAYMAN ISLANDS EXEMPTED LIMITED PARTNERSHIP
LIABILITY IN RESPECT OF OFFERING OF INTERESTS IN A CAYMAN ISLANDS EXEMPTED LIMITED PARTNERSHIP MEMORANDUM CONCERNING LIABILITY IN RESPECT OF OFFERING OF INTERESTS IN A CAYMAN ISLANDS EXEMPTED LIMITED PARTNERSHIP
More informationUNIT 2 - CONTRACT LAW. Suggested Answers January 2009
Note to Candidates and Tutors: UNIT 2 - CONTRACT LAW Suggested Answers January 2009 The purpose of the suggested answers is to provide students and tutors with guidance as to the key points students should
More informationMARKING GUIDE. Subject Name: Commercial Law 1. Exam Date: June Number of pages: 7
MARKING GUIDE Subject No: 8395F/8672D Subject Name: Commercial Law 1 Exam Date: June 2005 Number of pages: 7 2 MARKING GUIDE Part A 20 multiple choice questions worth 1 mark each: 1. [ d ] 2. [ b ] 3.
More informationBRITISH COLUMBIA LAW INSTITUTE
BRITISH COLUMBIA LAW INSTITUTE 1822 East Mall, University of British Columbia Vancouver, British Columbia V6T 1Z1 Voice: (604) 822 0142 Fax: (604) 822 0144 E mail: bcli@bcli.org Website: www.bcli.org UNFAIR
More information7/23/2010. The. Contract. Sources of contractual obligations
Law for Spatial Designers Introduction to the Law of Contract Module 3 Topic 1 Sources of contractual obligations Obligations imposed by law and equity The Contract Statutory obligations The obligations
More informationIntroduction to the Law of Contract (Higher)
National Unit Specification: general information Introduction to the Law of Contract (Higher) NUMBER D32C 12 COURSE SUMMARY The candidate will be able to explain how contracts become legally binding, how
More informationCONTRACTS. Miscellaneous applications of ACL for Contracts:! 6 PROMISSORY ESTOPPEL! Assumption! Detrimental Reliance!...
CONTRACTS Miscellaneous applications of ACL for Contracts:! 6 PROMISSORY ESTOPPEL! 7 1. Assumption!... 7 2. Detrimental Reliance!... 7 3. Unconscionability!... 8 Remedy of Promissory Estoppel!... 8 PRIVITY!
More informationLEVEL 3 - UNIT 2 CONTRACT LAW SUGGESTED ANSWERS - JUNE 2011
Note to Candidates and Tutors: LEVEL 3 - UNIT 2 CONTRACT LAW SUGGESTED ANSWERS - JUNE 2011 The purpose of the suggested answers is to provide students and tutors with guidance as to the key points students
More informationTYPES OF MONETARY DAMAGES
TYPES OF MONETARY DAMAGES A breach of contract entitles the non-breaching party to sue for money damages, including: Compensatory Damages: Damages that compensate the non-breaching party for the injuries
More informationREVIEW QUESTIONS TRUE/FALSE QUESTIONS (CIRCLE THE CORRECT ANSWER)
REVIEW QUESTIONS TRUE/FALSE QUESTIONS (CIRCLE THE CORRECT ANSWER) 1. T F When a court or legislature protects a class, this protection extends to all members of that class in every contractual transaction.
More informationThe Principles on European Contract Law
The Principles on European Contract Law CHAPTER 1: GENERAL PROVISIONS Section 1: Scope of the Principles Article 1:101: Application of the Principles Article 1:102: Freedom of Contract Article 1:103: Mandatory
More informationR.K. TALREJA COLLEGE, ULHASNAGAR - 3. MCQS 1. A contract may be a. In writing b. Oral c. Partly oral, partly written d.
R.K. TALREJA COLLEGE, ULHASNAGAR - 3 CLASS: S.Y.B.Com. INTERNAL TEST 20M- QB SUBJECT: BUSINESS LAW SEMESTER III (2015-16) MCQS 1. A contract may be a. In writing b. Oral c. Partly oral, partly written
More informationDISCHARGE AND PERFORMANCE
DISCHARGE AND PERFORMANCE Discharge: The termination of a party s obligations arising under a contract. Discharge occurs either when: (1) both parties have fully performed their contractual obligations;
More informationVOLUME 1 ISSUE 2 IJJSR ISSN
A STUDY ON BREACH OF CONTRACT AND ITS REMEDIES By Chitra C From Saveetha School of Law, Saveetha University, Chennai ABSTRACT This Research focuses on Breach of Contract and its types and also diverse
More informationPage 1 of 7. Fall 2015 Business Law Fundamentals O'Hara 2015 E
Page 1 of 7 print name as your signature EXAM #2 Business Law Fundamentals LAWS 3930 sections -001-003 Chapters 1-4, 24, 6, 7, 9-18 INSTRUCTIONS: 1. Affix your printed name as your signature in the space
More informationSome Basic Principles Of Contract Law
Memoranda on legal and business issues and concerns for multiple industry and business communities Some Basic Principles Of Contract Law Lina Lau & Terrence Choo Boon Liang Rajah & Tann 4 Battery Road
More informationRESCISSION OF CONTRACTS IN CALIFORNIA
Home Eugene E. Kinsey, Attorney at Law Phone:562 596-8177 Fax: 562 596-0298 E-Mail: KinseyE@ix.netcom.com Web: www.kinseylaw.com 323 Main St., 2nd Floor, Seal Beach, CA 90740 RESCISSION OF CONTRACTS IN
More informationLiberty American Ins. Group, Inc. v. WestPoint Underwriters, L.L.C., 199 F.Supp.2d 1271 (M.D.Fla. 2001)
ELEMENTS: Trade secret owned and maintained by Plaintiff; Knowing misappropriation by Defendant; Damage to Plaintiff. HERE: Customer lists, etc. Basis of new business Loss of business Liberty American
More informationPANCHAKSHARI s PROFESSIONAL ACADEMY Pvt. Ltd. CA CPT Law Unit 12 Test
1. The remedies available to a person, suffering from breach of contract are a. Suit for Damages b. Suit for Injunction 2. The remedies available to a person, suffering from breach of contract are a. Recession
More informationQUESTION 1. Carl said, Let me think a moment.
QUESTION 1 Zena placed an advertisement in a local newspaper: Wanted: Someone to clean my four-bedroom, four-bath house (2500 square feet) once a week for the next month; pay $35 per hour. No interview
More informationCONTRACTUAL CAPACITY
CONTRACTUAL CAPACITY Contractual Capacity: The minimum mental capacity the law requires to bind a party who enters into a contract. The law presumes that the following classes of persons lacked contractual
More informationLAW REFERRING TO CONTRACT AND OTHER LIABILITIES
Document prepared by the MLMUPC Cambodia, Supported by ADB TA 3577 and LMAP TA GTZ. Council of State DECREE No. 38 D /October 28, 1988 LAW REFERRING TO CONTRACT AND OTHER LIABILITIES Seen the Constitution
More informationCONTRACT VS. PROMISE
CONTRACT VS. PROMISE Promise: A person s declaration that he will perform or refrain from performing some present or future act. Promisor: The person making the promise. Promisee: The person to whom the
More information