5033403
Description
Flashcards by Lauren Lewis, updated more than 1 year ago
|
Created by Lauren Lewis
about 8 years ago
|
|
| Question | Answer |
| Explain Offer and Acceptance | Offer must be communicated to the offeree. All terms of offer must be communicated Olley v Marlborough Court LTD |
| What is Invitation to treat Relevant case? | Invitation to others to make an offer Can be advertisements, items in a store - NOT AN OFFER - Pharmaceutical Society of Great Britain v Boots Cash Chemist |
| How can an offer be terminated? | -Revocation by the offeror -Rejection by the offeree -Lapse of time -Failure to a condition -Death of a party |
| How can an offer be accepted? | Must be communicated; Actions, verbal, written communication Silence is NOT acceptance |
| Silence or intertia cannot be a condition of acceptance What is the relevant case? | FELTHOUSE V BINDLEY |
| What causes a counter offer? Relevant case? | If an offeree comes back to the offeror with different terms Offeree now becomes offeror and vice versa Original offer can no longer be accepted HYDE V WRENCH "a counter-offer extinguishes the offer" |
| Explain intention to create legal relations Difference between social and business arrangements? Relevant case? | All parties involved must have had intention to create legal relations. Domestic/social arrangements presumed under court as "no intention" Business arrangements presumed to have "intention" BALFOUR V BALFOUR |
| What is consideration? Relevant case? | The price paid by the promisee for the promisor's promise. Exchange between parties. Usually in the form of a monetary payment. Past consideration is not good consideration. RE McCARDLE |
| Who has legal capacity? | -Over 18 -Not under influence of drugs -Mentally disposing mind -Corporations |
| How can minors be approved of "legal capacity"? | Approval under court s 9 Minors Contract Act Obtaining guarantee or indemnity from an adult s 10 Contract directly with the parents |
| What is genuine consent? | The basis of the contractual relationship to be found in free will and consent of the parties. |
| What are the legal challenges to the genuineness of consent? | Informed Consent: -Misrepresentation -Mistake (Contractual Remedies Act) Consent given freely and willingly: -Unconcionable bargain -Undue influence -duress |
| Explain duress in the terms of genuine consent | Threatened or actual force against the person, their economic interest, their property and their family. |
| Define unconscionable bargain | When someone is taken advantage of when they needed special protection. A plaintiff must show significant impairment, disadvantage or disability i.e. advanced age, illiteracy, poverty, lack of a responsible person to consult, commercial inexperience. |
| Define mistake (as a legal challenge) | Mistake refers to beliefs, misconceptions or errors made by the contracting parties, but does not apply to errors in judgment or assessment of the bargain |
| Explain a Request for Further Information? | Not a counter-offer. Specified as wanting to know more about terms of an offer. Can include wording such as: "can, could, what if, how about..." (Watch out for confusing this to counter-offers) |
| What does the postal rule mean? Relevant case? | Offers can be accepted via the post. Acceptance is on postal, not receive An offer cannot be revoked through post. Byrne & Co v Leon Van Tein Hoven & Co |
Want to create your own Flashcards for free with GoConqr? Learn more.