Evaluation of the Formation of Contract and Ideas for Reform (OCR A-Level Law): Flashcards
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Practise the cards
10 cards from this deck
Consideration in contract law
Consideration in contract law
Something of value exchanged between parties (quid pro quo)
Mutuality principle in contract formation
Mutuality principle in contract formation
Valid offer + valid acceptance; both parties genuinely agree
Presumption for commercial agreements
Presumption for commercial agreements
Intended to create legal relations (rebuttable)
Presumption for domestic/social agreements
Presumption for domestic/social agreements
Not intended to create legal relations (rebuttable)
Privity of contract rule
Privity of contract rule
Only parties to contract can enforce it, not third parties
Contracts (Rights of Third Parties) Act 1999
Contracts (Rights of Third Parties) Act 1999
Allows third parties to enforce contracts in certain cases
Why minors are protected in contract law
Why minors are protected in contract law
Vulnerable; lack experience & weaker bargaining position
Form requirement for sale of land contracts
Form requirement for sale of land contracts
Must be in writing and signed by both parties
Unilateral contract
Unilateral contract
Contract where acceptance is by performance, not promise
Rebuttable presumption
Rebuttable presumption
Assumption that can be overturned by evidence