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Unit 30 Contract Law

Unit 30 Contract Law. General requirements for contract formation: . possessing legal capacity the object of the contract must be acceptable by the law in some cases a particular form is required ( e.g . sales contracts ). Key elements of contract formation. OFFER +

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Unit 30 Contract Law

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  1. Unit 30Contract Law

  2. General requirements for contract formation: • possessinglegal capacity • theobjectofthecontractmust beacceptablebythelaw • in some casesa particularformis required (e.g. salescontracts)

  3. Key elements of contract formation OFFER + ACCEPTANCE = ENFORCEABLE + CONTRACT CONSIDERATION *enforceablecontract = legallyvalidandbinding (the courtscanforcetheparties to abideby it )

  4. Agreements becoming contracts agreement + intention to be CONTRACT legally bound (legal consequences) COMMERCIAL FAMILY AND SOCIAL AGREEMENTSAGREEMENTS -presumed to be -has to be proved that contracts it was intended to be legally bound

  5. Consideration Common law jurisdictions both parties to a contract must bring something to the bargain money anything of value to the parties Eg. I Eg. II Party A – a farm (consid.) Party C – clerical work (consid.) Party B – a million dollars Party D – food and shelter (consid.) (consid.) *Civil law jurisdictions – no consideration (a promise does not need consideration to be enforceable)

  6. Different forms of a contract CONTRACT EXPRESSED IMPLIED 3 elements are implied(parking fees) writtenoral 3 essentialelements are present

  7. An example of an implied contractfrom the South of Englandthe town of ARUNDEL

  8. Setting aside the contract Three different ways in which contracts can be set aside: • VOID(a contract never came into existance) • VOIDABLE (one or both parties may declare a contract ineffective at their wish) 3. UNENFORCEABLE (lacks some particular type of evidence necessary for the enforcement)

  9. Voidable contracts MISTAKE UNDUE INFLUENCE DURESS MISREPRESENTATION INCAPACITY

  10. Remedies for breach of contract AWARD OF MONEY DAMAGES ORDER OF SPECIFIC PERFORMANCES

  11. to form/enforce/ breach/enter into/set aside a contract a breachofcontract consideration offerandacceptance offerorandofferee animplied/expressed/ legallybindingcontract valid; invalid a void/voidable/ unenforceable contract mistake misrepresentation duress undue influence incapacity an order of specific performances Essentialexpressions

  12. Vocabulary practice I – Word families Fill in the blanks by using the appropriate words from the text.

  13. Vocabulary practice II - Collocations Choose one of the listed nouns for each of the following verbs. Use the text. a binding offer; requirements; legal capacity; a contract; a contract; requirements

  14. Translation practice Translate the following sentences from the Croatian ZOO (Zakon o obveznim odnosima) • Art. 253. Punuda Ponuda je prijedlog za sklapanje ugovora učinjen određenoj osobi koji sadrži sve bitne sastojke ugovora. • Art. 262. Prihvat ponude Punuda je prihvaćena kad ponuditelj primi izjavu ponuđenika da prihvaća ponudu. • Art 269. Činidba Objekt ugovorne obveze je činidba koja se može sastojati u davanju, činjenju, propuštanju ili trpljenju.

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