Contract Law (Leaving Cert Business): Flashcards
📚Flashcards
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Practise the cards
10 cards from this deck
Definition of contract
Definition of contract
Legally binding agreement between 2+ parties
Number of essential contract elements
Number of essential contract elements
Eight essential elements
Invitation to treat
Invitation to treat
Invitation to make offer, not binding offer itself
Acceptance by silence
Acceptance by silence
Not valid - silence does not count as acceptance
Consideration value requirement
Consideration value requirement
Need not be equal but must be real, not vague
Age for capacity to contract
Age for capacity to contract
Over 18 years
Three ways consent can be invalidated
Three ways consent can be invalidated
Duress, undue influence, misrepresentation
Legality of purpose - when void
Legality of purpose - when void
When involves illegal or criminal activity
Condition (contract term)
Condition (contract term)
Fundamental term; breach = termination + damages allowed
Warranty breach remedy
Warranty breach remedy
Damages only; cannot terminate contract