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7 Cards in this Set

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  • Back
What are the elements of a Contract
1. offer and acceptance
2. consideration
3. intention to create legal relations
Under some contracts formalties must be complied with under the statute of frauds; what are they
MYLEGS
for consideration of marriage.
which cannot be performed within one year.
for the sale of an interest in land.
by the executor of a will to pay a debt of the estate with his own money.
for the sale of goods above a certain value.
in which one party becomes a surety (acts as guarantor) for another party's debt or other obligation.
One of the most famous cases on forming a contract is what?
Carlill v. Carbolic Smoke Ball Company - 1893 1 QB 256
Law students often remember the statute of frauds circumstances by the mnemonic;
what is it?
"MYLEGS" (marriage, year, land, executor, goods, surety).
What are the details of the Carlill v. Carbolic case?
A medical firm advertised its new wonder drug, smokeball, would cure people's flu, and if it did not, buyers would get £100. Lots of people sued for their £100. Carbolic argued the advert was not to be taken as a serious, legally binding offer as it was merely an invitation to treat, or mere puff, a gimmick. The defendant lost case and upon appeal the court held that to a reasonable man Carbolic had made a serious offer.
What is the invitation to treat (invitation to bargain in the U.S.)
an action by one party which may appear to be a contractual offer but which is actually inviting others to make an offer of their own. This distinction is important because if a legitimate contractual offer is accepted by another, a binding contract is immediately formed and the terms of the original offer cannot be further negotiated without both parties' consent.
The reasonable man or reasonable person standard is a legal fiction that originated in the development of the common law.
what is it!
The "reasonable person" is a hypothetical, rational, intelligent individual who o represents a "average" citizen. The ability of this hypothetical individual to understand matters is consulted in the process of making decisions of law. The question, "How would this reasonable person act under the circumstances" performs a critical role in legal reasoning in areas such as negligence and contract law.