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law of contract (elements of a contract (offer (situations which do not…
law of contract
elements of a contract
acceptance
what is acceptance
general rules on accpetance
may be oral, writing,conduct
must be absolute & unconditional
must conform to prescribed method
must be communicated
acceptance by post
waived
intention to create legal relations
what is intention to create legal relations
presumptions
commercial & business agreements
domestic & social agreement
offer
general rules on offer
situations which do not amount to an offer
supply of information
invitation to treat
declaration of intent
terminology
what is an offer
termination of offers
rejection by the offeree
lapse of offer
revocation of the offer
consideration
rules on consideration
must move from the promisee
must be legal
need not be adequate
must not be past
must be real
what is consideration
terminology
terms & conditions
terms & representations
sources of implied terms
statutes
customs & practices
courts
express terms & implied terms
conditions, warranties, innominate terms
void & voidable contracts
exemption clauses
what is an exemption clause
when can a party rely on an exemption clause
has the EC been made part of the contract itself
is the EC void by law?
is the EC clear and ambiguous
yes
no
remedies for breach of contract
legal/common law remedies
damages
losses which arise naturally
if both parties could have reasonably foreseen
rule 1: put injured part back into same financial position
steps to mitigate
agree on a fixed sum of damages before breach
quantum meruit
equitable remedies
injunction
specific performance
rescission
discharge of contract
meaning of discharge of a contract
discharge by agreement
expiry of a fixed time
prescribed procedure
terminate automatically
mutually release
discharge by acceptance of breach
condition
warranty
options
accept , contract discharge,sue for damages
reject, seek remedy for specific performance
discharge by performance
complete
time has been fixed
in accordance with terms
discharge by frustration
frustrated
personal service unable to perform
subject matter destroyed
law affecting contract changed
not frustrated
more difficult or expensive to perform
deliberately brought about by one of the parties.
effect of frustration
frustration under common law
frustration under frustrated contracts act