Contract Flashcards
(42 cards)
Contract: Consideration: Consideration must be… (quality)
sufficient (some value) , not adequate
Contract: Terms: Terms are… (definition)
Binding promises, obligations
Contract: Terms: Representations are… (definition)
Statement of fact induce to enter into the contract
Contract: Terms: Terms can be … (3 types)
Conditions, Warranties, Innominate
Contract: Terms: Conditions are.. (definition) If breached, what is the remedy?
Fundamental. Termination + damages
Contract: Terms: Warranties are.. (definition) If breached, what is the remedy?
Minor. Damages only
Contract: Terms: Innominate terms are.. (definition) If breached, what is the remedy?
If not clear Conditions or Warranties. If serious (rather condition) - termination + damages
Contract: Terms: If Representation is breached (misrepresentation), what is the remedy?
Contract is voidable.
Contract: Terms: In what cases damages can be awarder for misrepresentation?
If Fraudulent of Negligent misrepresentation
Contract: Terms: Sources from where terms can be implied?
Statute, Courts, Custom, Course of dealings between parties
Contract: Terms: What are the main statutes from where terms can be implied and in what relations?
SOGA - B2B, B2C.
SogSa: B2B, B2C.
CRA 2015: Goods and services B2C
Contract: Terms: What terms can me implied from SOGA? What is the mnemonic? And which terms can be excluded according to UCTA?
TIDE-FQ
Title; Description; Satisfactory quality (safe, free from minor defects, fit for purpose generally used); Fit for purpose made know to seller by the buyer
UCTA (exclusions): Title-x; else - reasonableness
Contract: Terms: What terms (Services/Goods) can me implied from SogSa? What is the mnemonic? And which terms can be excluded according to UCTA?
Services - Reasonable PraTiCS
Price, Time, Care, Skills
Goods -TIDE-FQ
Title; Description; Satisfactory quality (safe, free from minor defects, fit for purpose generally used); Fit for purpose made know to seller by the buyer
UCTA (exclusions): Title-x; else - reasonableness
Contract: Terms: What terms can me implied from CRA (goods/services)? What is the mnemonic? And which terms can be excluded according to UCTA?
Goods: TIDE-FQ:
Title;Description; Satisfactory quality; Fit for purpose(fit for purpose generally used, or purpose mentioned by consumer)
Services: Reasonable PraTiCS: Price; Time; Care; Skill
UCTA-x
Contract: Terms: What Act regulates unfair terms for B2B?
UCTA
Contract: Terms: What Act regulates unfair terms for B2C?
CRA
Contract: Exclusion clauses: To which relation UCTA applies?
only B2B
Contract: Exclusion clauses: What are unfair terms under CRA ? What is the result of unfair terms?
excl. liability for death/injury;
disproportionate price;
unilateral altering;
excluding right to sue
Not binding
Contract: Exclusion clauses: What is the result to exclude terms implied from CRA?
Automatically void
Contract: Exclusion clauses: Can implied terms from SOGA or SOGSA be excluded?
B2B - Yes, if not excluded (title) and reasonable under UCTA
B2C - No
Contract: Exclusion clauses: What is the reasonableness test under UCTA
- bargaining power
- alternatives for buyer
- clause clearly communicated
- circumstances at time of contracting
Contract: Vitiating (damaging) factors: List the factors
Mistake
Illegality
Duress
Undue influence
Contract: Vitiating (damaging) factors: What is the result of Mistake? When mistake can take place?
Void / Before contract
Contract: Vitiating (damaging) factors: What is the result of illegality?
Void
