Introduction to contract law

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  • Introduction to Contract Law
    • Development
      • Through common law through the 19th century.
      • Equity plays a large role in contract law to help overcome the harshness of common law.
      • Parliament has developed statutory law to help overcome the harshness of common law.
        • Especially for the sale of goods and consumer rights
          • Sales of Goods Act 1979
          • Unfair Contract Terms Act 1977
          • Consumer rights Act 2015
      • The main aim of contract law is to protect consistency and certainty within legal agreements, especially those of a business nature.
    • What is a contract?
      • An agreement that gives rise to obligations and which is enforceable and recognised by the law.
    • How does a contract end?
      • Contract can end in several different ways
        • Performance
        • Frustration
        • Breach of contract
      • Equitable remedies
        • Rescission
        • Rectification
        • Specific Performance
    • How does a contract be entered into?
      • “A contract can be made anywhere and under any circumstances” – Maclnnes v Gross (2017)
      • In writing or verbally
      • Can be entered fact to face, via the internet and a persons conduct.
    • Elements of a valid contract
      • For a contract to be formed, four essential elements must be present.
        • Offer and acceptance
          • The Offeror must make an offer and the offeree must accept it, with the acceptance of an offer forming an agreement.
            • Requests for further information is not an offer.
            • Counter-offer cancels out the original offer.
        • Consideration
          • what one party does or promises in return for the others party promise.
        • Intention to create legal relations
          • For a contract to exist, the parties must intend their promises to be legally binding.
    • Privity to Contract
      • Only those who are parties to a contract are bound by it and can benefit from it.
        • Tweddle v Atkinson (1861)
    • Exceptions to the Rule on Privity
      • The rule on privity to a contract can be seen as being harsh on third parties.
        • Beswick v Beswick (1968)
      • Common law has tried to address the issue
        • Jackson v Horizon Holidays (1975)
    • Contracts (Right of Third Parties) Act 1999
    • General Exceptions to Privity
      • Agency contracts
      • Collateral contracts
      • Restrictive covenants


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