BTB1010 Study Guide - Final Guide: Specific Performance, Rebuttable Presumption, Caveat Emptor
Document Summary
Contract law is mainly sourced in the common law. The fundamental principles are: freedom of contract, contractual intention is determined objectively, buyer beware (caveat emptor) A (cid:272)o(cid:374)tra(cid:272)t is a(cid:374) agree(cid:373)e(cid:374)t (cid:271)et(cid:449)ee(cid:374) t(cid:449)o or (cid:373)ore people that judges (cid:449)ill (cid:862)e(cid:374)for(cid:272)e(cid:863) Judges will not enforce all agreements between parties. No: you breached it, i suffered a loss. I(cid:374)ju(cid:374)(cid:272)tio(cid:374) (cid:894)do(cid:374)"t (cid:271)reak your pro(cid:373)ise(cid:895: restitution (give back the goods or money) Which contracts have to written: special contracts, (cid:862)co(cid:374)tra(cid:272)ts u(cid:374)der seal(cid:863) or (cid:862)deeds(cid:863, eg. Where plaintiff did (cid:374)ot pro(cid:448)ide (cid:862)(cid:272)o(cid:374)sideratio(cid:374)(cid:863: ordinary contracts, (cid:862)si(cid:373)ple (cid:272)o(cid:374)tra(cid:272)ts(cid:863, can be written, oral or partly written partly oral. In sa, contracts for the sale (or lease) of a block of land (or building) must be in writing. Requires three elements: an agreement (offer + acceptance, consideration provided by plaintiff. An agreement is formed when an offer is made by the person (offeror) to another person (offeree) and the offeree accepts (all the terms of) the offer.
