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Contract > Agreement > Flashcards

Agreement Flashcards

1
Q

What is the requirements of a binding contract?

A
  • Offer and acceptance +
  • Intention to create legal relations +
  • Consideration
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2
Q

What is the test when determining whether a party had the intention to enter into a contract?

A

Objective

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3
Q

What are the requirements for a valid offer?

A

clear and certain offer displaying an intention to be bound

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4
Q

What was the wording in Gibson v MCC that meant there was not a clear offer?

A

‘may be prepared to sell’

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5
Q

Who must show an intention to be legally bound?

A

The offeror

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6
Q

What was the wording in Storer v MCC that meant there was an intention to be bound?

A

‘I will…’

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7
Q

What is a bilateral contract?

A

Each party assumes obligation to other by promising to do something

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8
Q

What is a unilateral contract?

A

One party makes an offer or proposal in terms which call for an act to be performed by one or more other parties.

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9
Q

Are there mutual promises in a unilateral contract?

A

No

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10
Q

What constitutes acceptance of a unilateral offer?

A

actual performance of the required act

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11
Q

Can an invitation to treat be accepted to form a binding contract?

A

No

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12
Q

What are four examples of invitations to treat?

A

Advertisements
Display of goods for sale
Invitations to tender
Auction sales

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13
Q

What is the general rule for advertisments?

A

regarded as statements inviting further negotiations or invitations to treat

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14
Q

What is the exception where advertisements are treated as an offer?

A

Unilateral offers

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15
Q

What is the general rule for display of goods for sale?

A

price-marked goods displayed in a shop window are an invitation to treat +
goods displayed on shelves of self-service store +
websites

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16
Q

Why was an invitation to tender treated as an offer in Harvela Investments?

A

Undertaking to accept highest/lowest bid

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17
Q

In Blackpool & Fylde v BBC, what were the three requirements creating a binding obligation to consider tenders?

A

1) solicited from specified parties known to requesting party
2) absolute deadline for submission
3) absolute and non-negotiable conditions for submission

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18
Q

What is the general rule for auctioneer’s requests for bids?

A

Invitation to treat

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19
Q

When is acceptance in an auction?

A

Fall of auctioneer’s hammer

20
Q

What is the exception to auctions being an invitation to treat?

A

Auctions without reserve

21
Q

What is the highest bona fide bidder entitled to if goods are withdrawn in an auction without reserve?

A

Compensation by payment of damages

22
Q

What ways can an offer be terminated?

A

Rejection
Lapse
Revocation

23
Q

Can an offer be accepted after rejection?

A

No

24
Q

Can an original offer be accepted after a counter offer is made?

A

No

25
Q

Can an original offer be accepted after a request for information is made?

A

Yes

26
Q

How may an offer lapse?

A

Passage of time
Death of a party

27
Q

How may an offer lapse due to passage of time?

A

a) acceptance is not made within the period prescribed by the offeror;
b) no period is prescribed and acceptance not made within reasonable time

28
Q

Will an offer lapse if the offeror dies?

A

Only if the offeree knows

29
Q

Will an offer lapse if the offeree dies?

A

Yes

30
Q

What can an offeror withdraw an offer?

A

Any time before acceptance

31
Q

What must an offeror show to revoke an offer?

A

Clear intention by words or conduct

32
Q

When is revocation of an offer effective?

A

When actual notice reaches the offeree

33
Q

When can a unilateral offer typically not be revoked?

A

When the offeree has partly performed obligations and is willing and able to complete

34
Q

How can a unilateral offer to the whole world be revoked?

A

offeror takes reasonable steps to bring to attention of all those who read the offer

35
Q

What are the four rules in relation to acceptance?

A

Acceptance must be:
1. In response to the offer
2. Unqualified
3. In the prescribed mode
4. Communicated

36
Q

What is the mirror image rule?

A

Acceptance must correspond with the exact terms of the offer

37
Q

When is it mandatory to use a prescribed mode of an acceptance?

A
  • clearly mandatory
  • excludes all other options
38
Q

What mode can be used if there is a prescribed mode but it is not clearly mandatory?

A

Offeree can use any mode no less advantageous to the offeror

39
Q

Can an offeror stipulate that silence is acceptance?

A

No

40
Q

Can a third party communicate acceptance?

A

Not without the authority of the offeree if the circumstances indicate that their decision was not yet irrevocable

41
Q

What is the postal rule?

A

Acceptance = when properly posted

42
Q

Does the postal rule apply if the post is delayed or lost?

A

Yes

43
Q

When does the postal rule not apply?

A
  • Not reasonable to post (eg prompt acceptance)
  • incorrectly addressed
  • disapplied by offeror
44
Q

What is the general rule for acceptance by instantaneous means?

A

The moment it is received by the offeror

45
Q

When can an offeror not say that they have not received acceptance even if they haven’t receieved/heard/seen it?

A

Where the acceptor reasonably believes they have communicated it but hasn’t because of the offeror’s fault

46
Q

Is communication required for unilateral contracts?

A

No

47
Q

What is the test for certainty?

A

Objective - whether, in all circumstances, parties have agreed all terms they considered to be a precondition to creating legal relations

Contract (12 decks)

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