Contract Law at University Of Warwick | Flashcards & Summaries

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Lernmaterialien für Contract Law an der University of Warwick

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Are contracts made with minors voidable? (law relating to capacity to contract)

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Contracts made with minors are usually voidable by the minor, but contracts made for necessaries, training or education, are binding on minor, provided they do not contain harsh terms which are detrimental to minor.

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Exceptions to pivity of contract 


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Contracts (Rights of Third Parties) Act 1999 enables third parties, who have given no consideration in a contract, to enforce terms of contract, and sue for rights under the contract if:

  • contract permits enforcement by third parties.
  • purpose of contract is to benefit the third party
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Intention presumptions relating to domestic agreements 

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Where agreements are made within a social or domestic context, it is presumed that the parties did not intend to create legal relations.

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Can presumptions (concerning intentions) be rebutted?

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Presumptions relating to commercial and and domestic agreements can be rebutted by clear evidence of a contrary intention.

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Basic rules for consideration?

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  • Consideration by both parties is necessary for legally binding contract.
  • Past consideration (before agreement) is not accepted as consideration.
  • Consideration must be something measurable and of material value.
  • An existing legal duty to perform an action is not consideration.
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Doctorine of pivity of contract

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Pivity of contract means that persons not part to an agreement cannot be bound by its contractual terms.

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Offeree

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A person who accepts an offer.

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Revocation


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Withdrawl

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Consideration 

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Something of value given by both sides.

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Counter offer


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An offer made in reply to an offer which has the effect of terminating the first offer.

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Distinction between invitation to treat and an offer

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  • An invitation to treat is a pre-offer whereby one party is asking the other party if they would like to make an offer.
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Contractual capacity

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Legal power to make contracts

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Q:

Are contracts made with minors voidable? (law relating to capacity to contract)

A:

Contracts made with minors are usually voidable by the minor, but contracts made for necessaries, training or education, are binding on minor, provided they do not contain harsh terms which are detrimental to minor.

Q:

Exceptions to pivity of contract 


A:

Contracts (Rights of Third Parties) Act 1999 enables third parties, who have given no consideration in a contract, to enforce terms of contract, and sue for rights under the contract if:

  • contract permits enforcement by third parties.
  • purpose of contract is to benefit the third party
Q:

Intention presumptions relating to domestic agreements 

A:

Where agreements are made within a social or domestic context, it is presumed that the parties did not intend to create legal relations.

Q:

Can presumptions (concerning intentions) be rebutted?

A:

Presumptions relating to commercial and and domestic agreements can be rebutted by clear evidence of a contrary intention.

Q:

Basic rules for consideration?

A:
  • Consideration by both parties is necessary for legally binding contract.
  • Past consideration (before agreement) is not accepted as consideration.
  • Consideration must be something measurable and of material value.
  • An existing legal duty to perform an action is not consideration.
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Q:

Doctorine of pivity of contract

A:

Pivity of contract means that persons not part to an agreement cannot be bound by its contractual terms.

Q:

Offeree

A:

A person who accepts an offer.

Q:

Revocation


A:

Withdrawl

Q:

Consideration 

A:

Something of value given by both sides.

Q:

Counter offer


A:

An offer made in reply to an offer which has the effect of terminating the first offer.

Q:

Distinction between invitation to treat and an offer

A:
  • An invitation to treat is a pre-offer whereby one party is asking the other party if they would like to make an offer.
Q:

Contractual capacity

A:

Legal power to make contracts

Contract Law

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