General
Offer
Acceptance
Miscellaneous
Binding Factors
100
A legally enforceable agreement.
What is a contract?
100
The party who makes the offer.
Who is the offeror?
100
When the offeree accepts all the terms of the offer made to them.
What is acceptance?
100
When something of value passes from one party to another.
What is consideration?
100
A term which is clearly stated orally or in writing by the parties to the contract at the time the contract is formed.
What is an express term?
200
Offer, acceptance, consideration and certainty of terms.
What are the main elements of a contract?
200
A written statement, verbal statement or act that indicates that a person is willing to buy or sell goods or services.
What is an offer?
200
In order for a contract to exist, the terms of the contract must be clear and precise.
What is certainty of terms?
200
An agreement between relatives.
What is a domestic agreement?
200
Terms of the contract that are not the main part of the contract.
What is a warranty?
300
The party to whom the offer is made.
Who is the offeree?
300
Intention to be legally binding and clear terms.
What are the requirements of a valid offer?
300
Acceptance of this type of contract is only possible by performance.
What is an offer of reward?
300
A clear and certain arrangement in relation to the delivery of consideration.
What is promise to pay?
300
When a statement has encouraged somebody to enter into a contract.
What is misrepresentation?
400
A contract that has no legal effect.
What is a void contract?
400
Revocation, Time, Counteroffer, Death or Insanity.
What is a way that an offer can be ended?
400
An offer is accepted when the letter is placed into the post box for posting to the offeror.
What is the postal rule?
400
A request to make somebody offer for the goods.
What is invitation to treat?
400
Mentally impaired people or minors.
Who is considered to not have a capacity to contract?
500
One of two major sources of contract law, developed by early court decisions that became precedent for later decisions.
What is the common law of contracts?
500
When an offer is terminated because the offeree turned it down.
What is a rejection?
500
Can be seen as an exception to the "silence cannot be assumed as acceptance" rule.
How does the Carlill V Carbolic Smokeball Company case relate to acceptance?
500
Goods or services which may improve the life of someone.
What are necessaries?
500
A minor's schooling and education.
What does a contract for the benefit of a minor usually relate to?
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