CONTRACT LAW- EXAM NOTES What is a contract? An oral or written agreement between two or more parties which is enforceable by law. This agreement ‘will be legally binding if certain criteria are met – briefly‚ they require that there be an agreement (comprising an offer and acceptance)‚ consideration‚ intention to create legal relations‚ compliance with any formalities required by law and that the parties have the legal capacity to contract’1 What is the purpose of contract law
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Learning Objectives • What is a contract? What are the four basic elements necessary to the formation of a valid‚ contract? • What are the various types of contracts? • What are the requirements of an offer? • How can an offer be accepted? • What are the elements of consideration? CHAPTER 7 Contracts: Nature‚ Classification‚ Agreement and Consideration © 2005 West Legal Studies in Business A Division of Thomson Learning © 2005 West Legal Studies in Business A Division of Thomson
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Business Employment Law December 16‚ 2012 Dr. Robert D. Waldo‚ SPHR 1. What were the legal issues in this case? The legal issues in the case of Dillon v. Champion Jogbra are implied contract‚ just cause and promissory estoppel. The implied contract was first established when Dillion was approached by her manager that the sales position would be coming open and recommended that she apply for the position. She was then granted the job along with the promise of extensive
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Question 1 Mary v Peter Issue Given that Mary was injured by Peters’ act‚ is he solely liable for the accident? Law * In this case‚ we have to look at the Civil Liability Act 2002 (NSW) to determine who was negligent and in specific‚ we use s 5B(1)‚ s 5B(2) and s 5R of the Civil Liability Act 2002 (NSW); s 5B(1) for the reasonable foreseeability test‚ s 5B(2) for determining if the standard of reasonable care has been breached and s 5R for contributory negligence. * Where both the
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consideration: when you have a contract for a bargained for exchange where the promisor receives a benefit to the promisee’s detriment; note: benefit/detriment has to induce the promise 2. moral obligation: promise+antecedent benefit (rare) 3. promissory estoppel: a contract exists when a person reasonably relies upon a promise to his detriment 4. form: some contracts are valid only by form. What is a promise? A statement that something will or will not happen in the future. Parol Evidence Rule A contract
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Week 1 – Welcome / Introduction to Law I. 1. 2. 3. 4. Introduction to Law Not Not Not Not Divine Law‚ law of religion and faith Natural Law‚ justice‚ fairness and righteousness Moral Law‚ norms of good and right conduct Physical Law‚ order or regularity in nature Sources of Law i) i) Constitution – Fundamental Law of the land ii) ii) Legislations – Passed by Senate and House of Representatives iii) iii) Administrative issuances – Quasi Legislative Functions iv) iv) Jurisprudence – Decisions of the
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contract enforceable? Did Donald Cook breach the contract between the two parties? Decision: Yes‚ the two parties did have an agreement. There agreement led them to an implied-in-fact contract. The contract is enforceable by means of promissory estoppel which also defeats the claim of Statue of Frauds. Donald breached this contract by not giving remedy to Rose through monetary
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Issue 6. 1. Title: Consideration 2. Textbook reference: Chapter 12 3. Possible search terms: Consideration‚ past consideration‚ option-to-cancel‚ accord‚ satisfaction‚ release‚ promissory estoppel 4. Here is the situation: Andrea‚ the president of Standard Corporation‚ announces to Standard employees‚ “If you work hard‚ and profits remain high‚ you’ll get a bonus‚ if management thinks it’s warranted.” Profits remain high‚ but no bonus is paid. If the employees sue‚ would a court enforce the
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Respondent 1 is bound to the arbitral proceedings. 2 1. The corporate veil between Respondent 1 and Respondent 2 must be lifted to bind Respondent 1 to the arbitral proceedings. 2 2. Respondent 1 is bound by the arbitration clause in equitable estoppel. 3 II. The fraudulent acts of Mr. Romanovich cannot be attributed to Claimant; in any case‚ the defence of ex turpi causa non oritur actio is inapplicable in these circumstances and does not bar Claimant’s action. 4 A. The fraudulent acts of Mr
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intention to create legal relations should be used to replace consideration‚ it is important to look at how these doctrines fit into the essential elements in a contract. Their use will then be discussed‚ together with the doctrine of promissory estoppel. In evaluating these principles reference will be made to case law‚ judicial comment and of leading contract academics work. Finally‚ thought will be given to the future of consideration‚ and if it is still necessary today‚ when so many other countries
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