contract_1_notes - CONTRACT EXAM NOTES LAWS1071 Intro notes...

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CONTRACT EXAM NOTES LAWS1071 Intro – notes from Laurie Wk 1 Contract: a legally enforceable agreement. - not necessarily always a conscious agreement; when entering into a contract we ask whether the parties have ‘objectively intended’ to enter into a legal relationship, as would be decided by a reasonable bystander. Contract law an aspect of private law (relating to claims between individuals and other individuals). Public law relates to claims between individuals and the state. Contract law is stronger than all other areas of law – don’t need to show loss, just a breach of contract . NB : When a part is found to have breached a contract, the ‘innocent’ party is not returned to position they were in before contract was formed (as occurs in torts), but is rather put into position they would have been in , had contract been fulfilled. Contract very much grounded on common law method. Equity – developed in separate court to soften edges of common law, which became too rigid. Equity would enable a party not to have to rely on their common law rights, according to equitable doctrines, so as to ameliorate rigidity of some common law rulings. Provided additional (a) doctrines and (b) remedies. Equity sometimes ruled monetary compensation insufficient. Courts eventually merged – same courts apply both equity and common law principles. Still different areas of law, however, and they work in slightly different ways. For example , promissory estoppel is an equitable doctrine and can’t be treated the same as common law. Essential Elements of Contract Formation 4 necessary elements: (1) agreement (a) offer (b) acceptance (these are aids to analysis of contract agreement) (2) consideration (3) certainty (4) intention to create legal relations A contract can be made without an identifiable offer and acceptance, provided the parties have manifested their mutual assent. Where no identifiable offer and acceptance we employ the ‘acid test’: ‘whether, viewed as a whole and objectively from the point of view of reasonable persons on both sides, the dealings show a concluded bargain.’ In such cases, it’s relevant to ask: - whether in all circumstances an agreement can be inferred - whether mutual assent has been manifested - whether a reasonable person in the position of each of the parties would think there was a concluded bargain. (Heydon JA in Brambles ) Week 2: OFFER (CB 41-50, 55-67) Offer - a clear statement of the terms upon which an offeror is prepared to be contractually bound/expression of willingness to enter into a contract on certain terms. May be ‘express’ (written/spoken words) or ‘implied’ from offeror’s conduct. No
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formal language needed, therefore, to make an offer. Anything can be an offer, provided it clearly manifests the offeror’s intention. - essential that the offer is
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This note was uploaded on 06/05/2011 for the course LAWS 1071 taught by Professor Selwyn during the Three '11 term at University of New South Wales.

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contract_1_notes - CONTRACT EXAM NOTES LAWS1071 Intro notes...

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