Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
17 Cards in this Set
- Front
- Back
|
Contract |
A contract is an agreement made between two or more persons that is recognised by the courts as legally binding and can be enforced. |
|
|
Offerer |
The person making the offer of a contract. |
|
|
Offeree |
The person accepting the offer of a contract |
|
|
Offer |
Inviting another to enter into a contract with terms. |
|
|
Invitation to treat |
An invitation to treat is not an offer it is an invitation for someone to make an offer. |
|
|
Acceptance |
The unconditional agreement to all the terms of the offer, usually in writing. |
|
|
Consideration |
Something given, done or suffered in return for a promise of a contract. |
|
|
Void |
A contract that is invalid |
|
|
Misrepresentation |
a false statement of fact made by one party to another to induce or entice that party to enter into a contract. |
|
|
Certainty of Terms |
Parties to a contract must be clear about the terms and conditions of the contract. |
|
|
Capacity to contract |
Ability to enter into a contract, If a person has a mental disorder, under the influence of drugs or alcohol then they will not be able to enter into a contract. |
|
|
Duress |
Violence, actual or threatened that induces a person to enter into a contract. |
|
|
Express terms |
The actual words in a contract and are legally binding. |
|
|
Implied terms |
Words that are not in the actual contract, but are assumed to exist. |
|
|
Breach of contract |
The terms of the contract have been breached. |
|
|
Defences to Breach of contract |
-There was no Valid contract. -The Person did not have the capacity to enter into the contract -The contract is illegal -Consent was not freely given -The conditions of the contract were not fulfilled |
|
|
What kinds of contracts can be enforced against minors? |
Employment, Service, Apprenticeship, Training and Cadetships. |
