When one person makes a legitimate offer and the other person accepts the offer unconditionally.
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What is meant by consideration?
The price that each party is prepared to pay for what is being given by the other side.
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What is meant by legal intent?
When each party must intend that the agreement they reach will be enforceable in a court of law.
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What is a misrepresentation?
A concept in contract law referring to a false statement of fact made by one party to another party, which has the effect of inducing that party into the contract.
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What is an express term?
A term which is specified in a contract.
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What is an implied term?
A term which becomes part of the contract because or custom/practice over time. They are inserted in all contracts of law, most usually following an Act of Parliament.
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What is a condition?
A term which goes to the root of a contract so if they are breached the victim of the breach can avoid his own obligations under the contract as well as, or instead of, getting compensation.
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What is a warranty?
A minor term which the contract can still be carried out so that the victim of the breach can only get compensation.
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What 3 things need to be proven in order for a successful claim in negligence?
That a duty of care is owed, that the defendant has breached the duty, the person claiming negligence suffered foreseeable damage.
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What is a contract?
A written document based on an agreement which is legally binding and can be enforced through a court of law.
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Other cards in this set
Card 2
Front
What is meant by agreement?
Back
When one person makes a legitimate offer and the other person accepts the offer unconditionally.
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