Card Set Information

2014-10-17 02:35:08
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  1. details of deed

    • procedural requiement: signed, sealed and delivered
    • consideration is not a necessary element
    • must use for leases of more than 3 years and transfer of land/flats

  2. elements of formation ofa valid contract

    offer, acceptance, consideration and intention to create legal relation

  3. offer cease to be effective when..

    • the time expires
    • offer properly withdrawn
    • no time is stated, after a reasonable time
    • a counter-offer is made
    • upon the death of one party before acceptance

  4. advertisement is...

    an invitation to treat

  5. rules about acceptance

    • must be unconditional and conform exactly with the terms of the contract
    • must be made in the manner prescibed in the terms of the offer, otherwise follow the way in whichthe offer is made
    • if the offer is made to a specific person, the offer can only be accepted by that person
    • postal rule: A contract is concluded immediately the letter is posted, notwithstanding that is delayed in the post and even though it is destroyed and never reaches the offeror

  6. rules about consideration

    • consideration must be given on or before the end of contract
    • Consideration needs not be adequate, it can be less than the market value
    • no mutual benefit(consideration)-no contract: use deed under seal or $1 as consideration

  7. Implied terms situation
    • employment contract eg. Duty of loyalty(serve in the best interests of employer), avoid any conflict of interest
    • Sale of Goods Ordinance-goods of merchantable quality, goods must correspond with the description, sale by sample
    • trade practices-implied by court
  8. rules about intention to enter legal relationship
    An agreement is a contract only if both parties intended it to have legal consequences.

    Presumption for commercial agreements:The parties intended legal consequences

    Presumption for social and domestic agreements: no intention to enter legal relationship unless under separation/divorce proceedings, or rebutted by contrary evidence, eg. Signing a contract/deed and witness
  9. Privity of contract rules

    Contract terms can only bind the contracting parties

  10. invalid contract rules

    • Non Est Factum
    • duress
    • economic duress
    • undue influence

  11. Non Est Factum rules - The mistaken party must prove that

    • his signature was induced by fraud(mislead/deception)
    • the document was fundamentally different from that thought to be signed(thought she was signing a lease but turned out to be a deed), and
    • he did not act negligently(not a result of her carelessness)

  12. duress rules - The plaintiff party must prove that

    • coersion - actual/threatened violence, unlawful restraint/threat
    • fear
    • Totally deprive any practical choice

  13. economic duress rules - The plaintiff party must prove that

    • unreasonable commercial pressure
    • no practical alternative

  14. undue influence rules - The plaintiff party must prove that
    the defendant had the capacity to influence the plaintiff

    influence exerted

    resulted in the plaintiff entering into the contract