16467 Lecture Notes - Lecture 3: Charles Bowen, Baron Bowen, Australian Contract Law, Contract
Document Summary
Legally enforceable agreement between 2 or more parties. May be oral, written or a combination of oral/written. May be express or implied/inferred from parties" conduct & circumstances. Simple" contract vs deed (formally executed agreement/doesn"t require. Unilateral (one promisor) vs bilateral contract (two promisor) Doctrine of privity of contract (only the parties to a contract are bound by the contract and only the parties to a contract can legally enforce the contract) Only the parties to a contract are bound by its terms (i. e. may be subjected to the burdens which the contract imposes); and. Only the parties to a contract are legally entitled to enforce its terms (i. e. you must be an intended party to the contract) Australian contract law within a global context general principles of contract law. An offer is a clear indication of willingness to enter into a contract on certain stated terms without any further negotiation upon acceptance (australian woollen mills pty.
