BEX2001 Lecture Notes - Lecture 7: Collateral Contract, Vehicle Insurance, Oral Contract
1 Sep 2018
School
Department
Course
Professor
Document Summary
Week 7 you, contracts, jobs, cars and phones. If business has misrepresented the goods, services, terms or conditions. Friday you friend pays you for the running costs of the car. Illegal and void contracts: contracts that are illegal by statute will be regulated as to enforceability by the statute, contracts absolutely prohibited by statute will be void, whether the parties know of the illegality or not. Terms of a contract: parties of a contract are only bound by its terms (not statements made in pre-contract talk, contracts will always contain different types of terms, with "conditions" being more important than. "warranties: conditions are important, without them one or other of the parties would not enter into the contract. If broken condition, there will be legal consequences. Courts will generally interpret the exclusion clause against the party trying to rely on it and interpret it narrowly. Insist on escape clause if contract has something you"re uncertain about.
