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Law of Contract - Coggle Diagram

- - - - consent must be free and not cause by coercion, undue influence, fraud, misrepresentation & mistake.
- - - - A final & unqualified expression of assent to the terms of an offer. must be exactly match the offer and ALL terms must be accepted.
    - - must be sufficient, need not to be adequate
      - must not be from the past
      - must move from the promise
    - - agreement is not binding a as contract if it was made without an intention to create legal intentions. the parties must intend their agreement to be legally binding.
    - - Can be made informally, orally. an informal exchange of promises can still be as binding and legally valid as written contract.
    - - Expression of willingness to contract specified terms, made with intention. will be binding once accepted by the person to whom it is addressed.
  - - - The ones that parties have set out in their Agreement
    - - Implied in law and by statute
      - Implied by custom or usage
      - Implied in fact
      - no expressly stated but implied, either both parties intended this.
  - - - a party fails/refuses to perform his obligation
      - Anticipatory Breach
        
        before perf. is due, a party repudiates the contact or disables himelf from perf.
      - Termination for Breach-remedy when one party (injured) released from his obligation to perform because of other party's defective or non-perfomance.
  - - - As a result of a breach of contract
- - - - The contractual duties of both parties may be terminated by the court
      - when the parties enter into a contract because of mistake, fraud, undue influence or duress and the only way to do justice is to terminate the contract.
    - - used which is when a court reforms or changes a contract to correct any inequities. In these cases, instead of setting aside the entire contract, the terms of the contract may be rewritten to do justice
    - - Used to restore the injured party to the position occupied before the contract
    - - the breaching party has to perform their duties as specified by the contract and it is used when money damages are not adequate to compensate the plaintiff
    - - Compensatory Damages
        
        Cover the loss incurred by the non-breaching party.
        
        Breaching party will pay to replace the loss incurred.
      - Punitive Damages
        
        To punish the wrongdoer for egregious behaviour and to deter others.
        
        up to the court to decide oso. if they wish to award the amt.