Lect 1

Question 1

What is contract law?

Answer 1

• set of regulations or past judgements made by the court
• rules are enforceable by courts

Question 2

What are the basic essentials to create a contract

Answer 2

1. Offer
2. Agreement
3. Consideration

Question 3

What is simple contract and specialists contract

Answer 3

1. Simple contract = those without negotiation and easily carried out
2. Speciality contract = MORE COMPLEXT those dealing with land.

Question 4

What is standard form contract?

What is regulated standard form contract?

Answer 4

Standard form = only can be accepted or rejected like buying a train ticket but you can’t buy food or drink

Regulated = mobile phone contract or minimum wage contracts it can be like mended.

Question 5

What is battle of forms?

What does implied terms?

What does express terms?

Answer 5

Battle of rooms = when both parties negotiate but tries to use their own standard terms

Implied terms = means when you assume like you buy a phone but you assume it free from defects

Express terms = when it clearly states like what it is.

Question 6

What is void contract?

What is voidable contract?

What is enforceable contract?

Answer 6

Void contract : invalid from the beginning

Voidable contract : one party can cancel it

Unenforceable contract : legally invalid due to formalities e.g land sale agreement must be in writing.

Question 7

What is mere puff or boast?

Answer 7

Exaggerated marketing claims
E.g our toothpaste gives you twinkly teeth

Question 8

What is bilateral contract?

What is unilateral contract?

Answer 8

Bilateral contract = both parties promise to do something

Unilateral contract = one party promise to do something if the other performs an act.

Question 9

What is invitation to treat?

Answer 9

• not an offer just invitation for negotiation e.g asking for discount