Contract Law A

Description

1. OFFER What is a valid offer? Termination of an offer What is not an offer? - Mere puff - Supply of information - Invitation to treat Categorizing transactions - Advertisements a) Advertisements in a catalogue or a curricular b) Advertisements in newspapers or magazines c) Advertisements appearing on the internet d) Display of goods - Auctions a) Advertisement of auction b) Auctions with reserves c) Auctions without a reserve - Tendering - Standing offers ¬ Options 2. ACCEPTANCE Requirements of valid acceptance Method of acceptance a) Express or implied b) Acceptance by silence c) Acceptance by conduct Instantaneous communication: Acceptance must be communicated Postal acceptance rule Contract formation: time and place 3. CONSIDERATION Definitions Nature of consideration - Consideration in bilateral contracts - Consideration in unilateral contracts - Executed (done) and executory (hasn’t done) consideration Rules governing consideration - Consideration must move from the promisee - Consideration must be bargained for - Consideration must be sufficient - Consideration must not be past - Consideration must not be illusory Performance of existing duties a) Performance of existing contractual duties b) Performance of a public duty c) Where promise is made to a third party Payment of a debt a) Rule in Pinnel’s case b) Circumstances in which the rule will not operate • Parties enter into a deed • Accommodation to benefit the creditor • Amount owing is disputed • Payment by a third party • Composition with creditors Forbearance to sue Consideration and formal agreements - Deeds 4. INTENTION TO CREATE LEGAL RELATIONS 5. ELEMENTS OF A VALID CONTRACT • CERTAINTY • WRITING REQUIREMENTS • CAPACITY 6. ESTOPPEL 7. EXPRESS TERMS 8. IMPLIED TERMS 9. CONSTRUCTION OF CONTRACTUAL TERMS Interpreting the meaning of terms - General approach - Admissible evidence a) The parole evidence rule b) Factual matrix c) Exceptions to the parole evidence rule ¬ Ambiguity ¬ Identification of subject matter ¬ Identification of parties and their relationship ¬ Identification of the real consideration ¬ Custom or usage ¬ Rectification - Inadmissible evidence a) Subjective intention b) Prior negotiation c) Subsequent conduct Exemption clauses - Specific rules of construction a) The contra proferentem rule b) Attempts to exempt negligence ¬ The rules regarding attempts to exempt negligence c) Deviation cases d) The four corners rule 10. CONSTRUCTION OF EXCLUSION CLAUSES 11. DISCHARGE BY PERFORMANCE - Time of performance - Order of performance ¬ Cooperation ¬ Prevention of performance - Level of performance ¬ Divisible contract ¬ Obstruction of performance ¬ Dem minimus non curat lex rule ¬ Substantial performance ¬ Acceptance of partial performance 12. DISCHARGE BY AGREEMENT 13. IPAC - QUICK AND EASY TO FOLLOW, GREAT FOR EXAMS - AUTHORITIES INCLUDED