Contract Law

Contract Law

1. Offer

   • A promise for an act
     • Who is it to?
       • Individual
       • Members of a group
       • The world at large
     • Unavailable
       • Revoked
       • Rejected
       • Counter-Offer
       • Time for acceptance passed
   • Invitation to deal
   • Request for more information
   • Acceptance
     • Positive response
       • Acceptance of terms
         • Response to the offer
         • In accordance with the terms of the offer
         • Communicated to the offeror
         • Communicated on time
         • Communicated in the correct form
         • Consideration
           • Anything specified by promisor
           • Not illegal or illusory
           • Real and valuable to the promisor
           • Given in return for the promise
           • Performance of an existing duty
             • Performing a public good
             • A contractual duty owed to a third party
             • Contractual duty owed to a promisor (where there is additional benefit(
               • Paying only part of a debt is not good consideration
           • Exceptions
             • Not required in a formal agreement (deed, doc signed/sealed/delivered)
             • Where the promisee has a remedy of promissory estoppel

2. Intent to create legal relations

   • Objective Test
   • Domestic, family or social arrangements
   • Commercial arrangements
   • Agreements with the Government
   • Agreements with professional associations

3. Capacity

   • Intoxication
   • Bankruptcy
   • The Crown
   • Companies
   • Minors
   • Mental Incapacity

4. Formalities

   • Recorded in writing
     • Land
       • Instruments Act 1958
       • Memo recording essential terms
     • Non-Compliance
       • Cannot be enforced
         • Unless part performance operates
         • Unless Estoppel operates
       • Rights indépendant of the contract may be enforced