LAWS1100 Study Guide - Final Guide: Parol Evidence Rule, Collateral Contract, Headache

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13 Jun 2018
School
Department
Course
Contracts
Topics:
What is a contract?
Requirements for the Formation of a Contract
o Agreement
o Intention
o Consideration
Promissory Estoppel
Capacity
Privity and Time Limits
Express Terms, Conditions and Warranties
Implied Terms, Parole Evidence Rule and Collateral Contracts
Disclaimers
CONTRACTS OVERVIEW
Definition of "Contract"
A legally binding promise or agreement.
A promise or undertaking in respect of which a legal, contractual obligation has been
assumed by means which the law recognizes as effective for that purpose.
An agreement between two or more people which is legally enforceable.
What is a Contact?
Contract Law falls into 2 main categories.
Contracts can be classified as simple or formal.
o Simple contract: can be made verbally or in writing, or implied by the conduct of
the parties.
Most common form of contract;
Eg.) Buying lunch, purchasing an item of clothing, etc.
o Formal contract: requires legal formalities and is valid only when made according to
the form required by the law.
Set down by law, it has to be in writing (not verbal);
Eg.) Contract for land, deeds, etc.
Sources of Contract Law in Australia?
The main sources of Contract Law in Australia
The bulk of contract law is Common law based
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ELEMENTS OF A VALID SIMPLE CONTRACT
REQUIREMENTS FOR THE FORMATION OF A
CONTRACT
3 Essential Requirements
o Agreement
o Intention to enter a Legal Relationship
o Consideration
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Requirement 1: Agreement
A ageeet ioles a eetig of the ids o osesus etee  o oe
paties…
A ageeet is a staight foad legal te.
AGREEMENT = OFFER + ACCEPTANCE
What is an offer?
Offer: a proposal made by one party to another to enter into a legally binding contract.
Offers can be written or spoken.
Offers may be implied from the conduct of the offeror.
A offe a e ade to oe peso, a people, o the old at lage.
o What are examples of this?
There must be an intention/willingness to enter into a legally binding contract.
o Look at the words and conduct of the offeror.
Courts use the objective test ask whether a reasonable person standing in the shoes of
the recipient would believe the statement/conduct to be a promise in the form of an offer
(the reasonable person test).
ASK YOURSELF:
o Was the offer firm?
o Was the offer certain?
o Was the offer communicated to the offeree?
o Was there an intention/willingness to enter into a legally binding contract?
Many commercial contexts may suggest an intention to enter into a legally binding
contract.
However, would all commercial behaviour be considered an offer?
o Would inquiring about something be an offer?
o What about when goods are displayed for sale?
What is an invitation to treat?
An initial approach to others inviting them to deal or to instigate dealings on certain
specified terms.
Basically, this is an invitation for potential customers to consider something.
Most advertising is an invitation to treat.
The last person to accept must be the seller
EXAMPLES:
o Advertisements
o Goods displayed in shops
Case Law: Pharmaceutical Society of Great Britain v Boots
o Auction Sales
o Tenders, shares and debentures
o Price lists
Case Law: Carlill v Carbolic Smoke Ball Company [1893] 1 QB 256
o FACTS:
o Advertisement by Carbolic Smoke Ball Co.
o Adetiseet poised that podut ould positiel ue a log age of
ailments: coughs, colds, asthma, influenza etc, headache, whooping cough etc.
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