LAW 11001 Lecture 7: INTRODUCTION TO LAW CHAPTER SEVEN
Document Summary
To provide the candidate with a broad understanding of the following concepts pertaining to the law of contract; Terms of contract; exemption clauses, conditions and warranties. Vitiating factors; mistake, misrepresentation, duress and undue influence. This chapter deals with the formalities that are involved before a contract comes into existence. It then looks at the terms of contract, vitiating factors and the eventual termination or discharge of a contract. Offer: an unequivocal and clear manifestation by one party of its intention to contract with another. Invitation to treat: this is a mere invitation by a party to another or others to make offers or bargains. Acceptance: this is the external manifestation of assent by the offeree. Revocation: this is the withdrawal of the offer by the offeror. Consideration: it has been defined as an act or promise offered by the one party and accepted by the other party as price for that others promise.
