Contract Law

Front 1

The common law system is a legal system based on

Back 1

Precedent

Hint 1

P

Front 2

Definition: a principle or rule established in a previous legal case that is either binding or persuasive for a court when deciding subsequent cases with similar facts or issues

Back 2

Precedent

Hint 2

P

Front 3

Certainty and predictability are features of.....

Back 3

Precedent

Hint 3

P

Front 4

A set of decisions which can be used as precedent

Back 4

Case law

Hint 4

C L

Front 5

5 steps of the formation of a contract

Back 5

Agreement, Intention, consideration, form required by law, capacity

Front 6

In English law how is an agreement of a contract usually shown

Back 6

By offer and acceptance

Front 7

The offeror is the person who

Back 7

Makes the offer

Front 8

The offeree is the person who

Back 8

Receives the offer

Front 9

An offer is true if the offeror intends to be.....

Back 9

Immediately bound by their offer if their offer is accepted as it stands

Hint 9

Immediately bound....

Front 10

And initiation to treat is....

Back 10

An invitation to make an offer

Front 11

At what time may an offeree withdraw their offer

Back 11

At any time before acceptance

Front 12

What ways can revocation of an offer be communicated

Back 12

Either by words or by conduct

Hint 12

W or C

Front 13

A counter offer operates as a

Back 13

Rejection

Front 14

After rejection of an offer, what can the offeree do and not do

Back 14

Cannot complete the contract, can make a counter offer

Hint 14

Cannon c / can c o

Front 15

Acceptance must be

Back 15

Unqualified

Hint 15

U

Front 16

The acceptance must watch...

Back 16

The terms of the offer

Front 17

What form can acceptance be in?

Back 17

Any form

Front 18

Is doing nothing a sufficient act of acceptance?

Back 18

No, there must be a positive act of acceptance

Front 19

Acceptance must be communicated to...

Back 19

The offeror

Front 20

Some right, interest, profit or benefit accruing to one party (promisor) or some detriment, loss or responsibility given, suffered or undertaken by the other

Back 20

Consideration

Hint 20

C

Front 21

Bad bargains are legal because...

Back 21

Consideration need not be adequate

Hint 21

Consideration

Front 22

There must be a link between the promise and the consideration from the beginning as.....

Back 22

Consideration must not be past

Hint 22

Consideratiin must not

Front 23

Consideration must move from the ............ and must not be something which the ........... is already bound to

Back 23

Promise

Hint 23

P only one word

Front 24

Definition: a promise made without consideration cannot be enforced and will not be sufficient to create a legally binding contract

Back 24

Promissory estoppel

Front 25

2 types of terms of contract

Back 25

Express terms, implied terms

Hint 25

E t and I t

Front 26

Definition: injured party has a right to claim damages but not to terminate the contract

Back 26

Warranties

Hint 26

W

Front 27

Definition: injured party has a right not only to claim damages but also terminate the agreement

Back 27

Condition

Hint 27

C

Front 28

A trivial breach =

Back 28

Action for damages

Front 29

A serious breach

Back 29

Damages + right to terminate

Front 30

Recognition of a third class of terms / innominate terms / a modern tendency of the courts to adopt a ...... approach and focus on the effect of a breach in order to determine whether a condition or warranty has been broken

Back 30

Discretion/ flexibility

Front 31

Improper pressure / mistake / non-disclosure / misrepresentation are all ways to do what

Back 31

Make contracts invalid

Front 32

2 types of improper pressure

Back 32

Duress / undue influence

Front 33

2 types of undue influence

Back 33

Presumed and actual

Hint 33

P and a

Front 34

When a contract has been achieved through force or threats of force:

Back 34

Duress

Hint 34

D

Front 35

Effect on the contract: voidable by a person who has been led into it by improper pressure:

Back 35

Undue Influence

Front 36

Give 2 examples of possible mistakes

Back 36

Mistake signing documents and mistakes in recording documents (rectification)

Hint 36

Sign and rec

Front 37

Definition: a false statement of fact which induces the other party to enter into the contract- can be fraudulent/ innocent/ negligent

Back 37

Misrepresentation

Hint 37

M

Front 38

Who must misrepresentation be made by

Back 38

Parties to the contract

Hint 38

Parties to the

Front 39

Remedies to misrepresentation:

Back 39

Contract is voidable/ discretion to award damages instead of recession where there is no fraud

Hint 39

Contract is ...... / discretion to......

Front 40

Non - disclosure: as a general rule....

Back 40

The parties to a contract are under no positive duty of disclosure

Hint 40

The parties to......

Front 41

Ways to have a contract discharged:

Back 41

Performance/ breach/ frustration/ agreement

Front 42

Definition: One party fails to carry out what they have agreed to do / their performance may be inadequate or they may provide no performance at all

Back 42

Failure to perform

Front 43

Describe an anticipatory breach

Back 43

A breach that takes place before the date of the performance has arrived

Hint 43

Before

Front 44

Defonition: A contract becomes impossible to perform or illegal or futile because some unforseen events since the contract was made

Back 44

Frustration

Front 45

Frustration is the exemption to the rule that:

Back 45

Liability in contract is strict

Hint 45

Liability in....

Front 46

The main remedies for a breach of contract in contract law are:

Back 46

An action for damages/ specific performance/ an injunction

Front 47

Damages can be obtained as of right when....

Back 47

A contract is broken

Front 48

What is the purpose of the award of damages?

Back 48

To place the claimant in the financial position they would have been in if the contract had been performed fully and properly

Front 49

Damages will not be awarded if...

Back 49

The losses are too remote from the original breach of contract