contract law-contents and consideration

  • Created by: launa07
  • Created on: 04-05-15 13:09
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    • consideration
      • definition of consideration
        • the price paid for a persons promise
      • types of consideration
        • executed- when a party performs his part of the contract at the time of entering into it
        • executory- when the parties exchange promises to do something in the future
      • consideration must move from the promise
        • in order to sue consideration must be supplied in the promise
          • Dunlop v selfridge
      • consideration must not be passed
        • promises in a valid contract are made in exchange for each other ... this is not the case if one is made after the event
          • Roscorla v Thomas 1842
          • 1 exception to the rule - the doctrine of implied assumpsit
      • consideration does not need to be economically  adequate.
        • chappell & co v nestle co ltd 1960
      • intention to create legal relations
        • it is generally persumed that a  agreement between family or friends in a social context is not intended to be a contract
          • balfour v balfour 1919
        • the presumption can be rebutted,as the circumstance may be such that a legal intention was meant
          • merrit v merrit 1970
    • contents of a contract
      • terms of a contract
        • implied term- one that has not been openly considered by the parties but is read into it by the courts
        • expressed terms - a term that has been clearly discussed and stated by the parties in the contract
      • importance of statement- statement is classed as a term when it is of such importance to the person who made it
        • couchman v hill 1947
        • reduction of statement to writing- if a statement made during negotiation and isn't put it writing the  courts will assume it is a represen-tation
        • timing of the statement - this is important in deciding id it is a term of the contract
          • Routledge v Mckay 1954
      • actual notice -the claimant new about the term via reading or being told
        • olley v marborough court hotel 1949
        • reasonable notice - even if the claimant did'nt know about it,it still can be considered as a term as long as there were reasonable notice
          • what the courts consider for reasonable notice; 1) timing of document .. 2) type of document ...3) type of clause
      • implied terms
        • these are read into the agreement from other sources but are part of the contract


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