Introduction to contract law
- Created by: I_Am_Trying_I_Promise
- Created on: 19-01-23 21:29
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- Introduction to Contract Law
- Development
- Through common law through the 19th century.
- Equity plays a large role in contract law to help overcome the harshness of common law.
- Parliament has developed statutory law to help overcome the harshness of common law.
- Especially for the sale of goods and consumer rights
- Sales of Goods Act 1979
- Unfair Contract Terms Act 1977
- Consumer rights Act 2015
- Especially for the sale of goods and consumer rights
- The main aim of contract law is to protect consistency and certainty within legal agreements, especially those of a business nature.
- What is a contract?
- An agreement that gives rise to obligations and which is enforceable and recognised by the law.
- How does a contract end?
- Contract can end in several different ways
- Performance
- Frustration
- Breach of contract
- Equitable remedies
- Rescission
- Rectification
- Specific Performance
- Contract can end in several different ways
- How does a contract be entered into?
- “A contract can be made anywhere and under any circumstances” – Maclnnes v Gross (2017)
- In writing or verbally
- Can be entered fact to face, via the internet and a persons conduct.
- Elements of a valid contract
- For a contract to be formed, four essential
elements must be present.
- Offer and acceptance
- The Offeror must make an offer and the offeree must accept it, with the acceptance of an offer forming an agreement.
- Requests for further information is not an offer.
- Counter-offer cancels out the original offer.
- The Offeror must make an offer and the offeree must accept it, with the acceptance of an offer forming an agreement.
- Consideration
- what one party does or promises in return for the others party promise.
- Intention to create legal relations
- For a contract to exist, the parties must intend their promises to be legally binding.
- Offer and acceptance
- For a contract to be formed, four essential
elements must be present.
- Privity to Contract
- Only those who are parties to a contract are
bound by it and can benefit from it.
- Tweddle v Atkinson (1861)
- Only those who are parties to a contract are
bound by it and can benefit from it.
- Exceptions to the Rule on Privity
- The rule on privity to a contract can be seen as
being harsh on third parties.
- Beswick v Beswick (1968)
- Common law has tried to address the issue
- Jackson v Horizon Holidays (1975)
- The rule on privity to a contract can be seen as
being harsh on third parties.
- Contracts (Right of Third Parties) Act 1999
- General Exceptions to Privity
- Agency contracts
- Collateral contracts
- Restrictive covenants
- Development
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