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7 Cards in this Set
- Front
- Back
- 3rd side (hint)
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A contract
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A legal enforceable agreement between two or more parties. Voluntarily assumed; Planned exchangements; Notion of bargain. [Treital] "An agreement... giving rise to legal obligations..."
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How do you know a contract is formed?
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There will be offer and evidence of acceptance (could be through performance)
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Bilateral contract
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Promises made = accepted = concluded.
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Unilateral contracts
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Promise from one side. Acceptance with performance.
Carlill v Carbolic smoke ball co - Advertisement was treated as a offer instead of a intivitation to treat. |
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Objective Test
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What the courts said or did.
HOWARTH - 3 different interpretations of this test... 1) detatched objectivity (what would a person observing interpret) 2) Promisee's perspective. (Smith v Hughes) 3) Promiser Objectivity. Standard of a reasonable person in the shoes of the person making the offer. ^ promiser and promisee = misleading because in a bilateral contract, each party is the promiser and promisee. SCRIVEN BROS V HENDLEY - Purchaser was a promiser - promising to pay for lot and promisee in concerning the auctioneers promise. And Auctioneer as a promiser to promise to selll lot and promisee concerning the defendants promise to purchase lot. CENTROVINCIAL - |
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Offer vs. Invitation to treat
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Offer = A statement. willing to create/enter a contract.
Invitation to treat = Willingness to enter into negotations, which in hope leads to a concluded contract. Distinction between two is intention. Did the maker of statement intent to be bound by an acceptance of his terms without further negotations |
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Mirror image
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[Lawton & Bridge Ljj] When there is a clear and unequivocal offer which is matched by an equally clear and unequivocal acceptance.
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Lawton and Bridge ljj.....
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