Contract Law

Contract Law

1. Vitiating Factors

   • Illegality
   • Duress or undue influence
     • Threat or actual injury
   • Incapacity
     • Intoxicated person
     • Minor
     • Mentally unsound
   • Misrepresentation
     • Innocent
     • Negligent
     • Fraudulent (dishonesty)
   • Mistake
     • Mutual mistake
     • Non est factum
     • Unlateral mistake
     • Common mistake

2. Discharge

   • Frustration -
   • Agreement +
   • Breach -
   • Performance +

3. Acceptance

   • Words or conduct of assent to the terms of the offer indicated by offerer
   • Communication of acceptance
     • Exception
       • Acceptance by post
       • Wavier of communication
       • Silence construed as acceptance
     • Terminating
       • Acceptance can only be withdrawn if it has been communicated to the offerer
     • General rule
       • In order to be effective, it must be communicated to the offerer
       • Must be unconditional in aligned with the terms of contract
     • In practice
       • Exercise care to avoid ambiguity

4. Remedies

   • Law of equity
     • Injunction
     • Specific performance
   • Common Law
     • General & special damages
     • Unliquidated damages
     • Nominal damgaes
     • Liquidated damages

5. Offer

   • Words or conduct made by offerer to offeree
   • Legally binding contract
   • Ways to terminate
     • Lapse of time
     • Rejection
     • Death
     • Withdrawal
     • Failure of condition

6. Intentional to create legal relationship

7. Consideration

   • An act of forbearance of one party
   • The price for which a promise is bought
   • Payment to one party in exchange for a promise / performance by the other party
   • An interest
   • A right
   • A profit
   • A benefit