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Contract (Acceptance (Must be communicated (Orally, Writing, In conduct),…
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Contract
Acceptance
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- According to method stated in offer
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"Battle of the forms"
- 'last shot' wins the battle
- each new form treated as a counter offer
Offer
- Made orally in writing or by conduct
- Made to a group / the world
- Must be communicated before it can be accepted
NOT :red_cross:
- An invitation to treat
- Request for info
- Declaration of intend
Terminated by :forbidden:
- Lapse of time
- Withdrawal
- rejection
- Death
Consideration
- Must be real / sufficient
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- Must move from the promisee
Vitiating factors
- Voidable :arrow_left: Misrepresentation
- untrue statement of material fact
- Made by one party to the other
- To induce the other party to enter into contract
- Represented party entered into contract in reliance of statement
- Void :arrow_left: Mistakes
- Both parties - existence of subject matter
- Both parties - basis of contract
- Mutual mistakes- cross purpose
- unilateral mistake - fundamental mistake
Non Est Foctum:arrow_right: Void
(pertains to written/signed document)
- Prove
(a) non negligence
(b) signature induced by fraud / trick
(c) signed contractual documents believing it was a different document
Illegality
Performance
- may be illegal
- one party knows :arrow_right: Valid
- both party know:arrow_right: maybe void
Formation
- performance illegal :arrow_right: may be void
Discharge of Contract
- By performance
- performance must be complete & exact
- By agreement
- mutual agreement
- Parties substitute existing contract with new contract
- obligations not complete
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REMEDIES
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- Damages
amount to be ascertainedby court
a) liquidated
- in contract agreed upon by parties
b) unliquidated
- unascertained damage, court to decide
:arrow_right: causation
:arrow_right"when no LD ?????
- Quantum Meruit
- reasonable ????
- reasonable proportion of work done
- reasonable pace? where prie not stated in contract
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Terms
- Express vs implied
:field_hockey_stick_and_ball: Terms
:field_hockey_stick_and_ball: Facts
:field_hockey_stick_and_ball:statute
:field_hockey_stick_and_ball:customs & practises
:red_cross: representation
:red_cross:puffs
- Conditions vs warranties
- Root : very important, essential, fundamental.
:!!: breached :arrow_right: innocent party can walk away from contract
- Not Root = less important
:!!: breached :arrow_right: innocent party can continue contract but can claim damages
Exemption vs limitation of liability
- All / complete
- Some / limited
- in both cases :arrow_right::UCTA applies
Indemnity
- transfer liability from the party who normally is liable
- UCTA applies
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