- Contract Law Summary Notes!

What's in the Contract Law Summary Notes?

Table of Contents for Contract Law Summary Notes

1.  Introduction.. 4

A.   How to use Cram Notes. 4

2.  Was there an Offer? 4

A.   Was an offer made?. 4

B.   What was the nature of the offer?. 5

i.        Invitation to treat 5

1)     Display of goods for sale. 5

2)     Auctions. 6

ii.       Unilateral contract 6

C.   Was the offer withdrawn or otherwise cancelled?. 6

i.        Withdrawn. 6

1)     Options. 6

ii.       Lapse. 7

iii.      Counter-offer or inquiry. 7

iv.      Rejection. 7

v.       Unilateral contract 7

3.  Was There Acceptance of the offer? 7

A.   Was there conduct indicating acceptance. 7

B.   How was the offer accepted?. 8

i.        Expressly communicated. 8

ii.       Implied acceptance (silence & by conduct) 8

iii.      Offeror Dispenses with Need for Communication (Unilateral contract) 9

iv.      Postal Acceptance rule. 9

1)     Scope. 9

2)     Application. 9

C.   Which offer was accepted & on what terms?. 9

i.        Battle of the forms. 10

4.  Was There Consideration? 10

A.   What was the consideration bargained for?. 10

i.        Quid pro quo. 11

ii.       Illusory. 11

iii.      Sufficiency of consideration. 11

iv.      Past consideration. 11

v.       Existing legal duty. 12

1)     Exceptions. 12

B.   Did consideration move from the promisee?. 12

5.  Was there an Intention to Create Legal Relations? 12

A.   Was there an objective and clear intention to create legal relations?. 12

B.   Presumptions. 13

i.        Social relationship. 13

ii.       Commercial relationship. 13

C.   Government policy. 14

D.   Preliminary agreements (subject to contract) 15

6.  Is the Contract Complete and Certain? 15

A.   Complete ¡V Does it contain all the requisite essential terms?. 15

B.   Certainty ¡V Can the imprecise & ambiguous terms be given meaning consistent with intention?  16

i.        Is there a readily ascertainable external standard to give the term an appropriate and reasonable operation?  16

ii.       agreements to agree or negotiate. 16

iii.      Do terms depend on settlement by third party?. 17

C.   Is the promise illusory?. 17

D.   Can the offending term be severed or waived?. 17

7.  Was there Privity of Contract? 18

A.   Is the person a party to the contract?. 18

B.   Has the person provided consideration?. 18

C.   Remedies available. 18

i.        Damages. 18

ii.       Specific performance. 18

8.  Was there conduct giving rise to an Estoppel? 19

A.   Forms of estoppel 19

i.        Common law estoppel 19

ii.       Equitable estoppel 19

B.   Assumption as to existing fact or future conduct 19

C.   Inducement to adopt assumption.. 20

D.   Reliance upon assumption.. 20

E.   Representor knew or intended that representor act in reliance. 20

F.    Was the reliance detrimental?. 20

G.   Representor failed to act to avoid detriment 20

H.   Is there proportionality between the relief granted and detriment suffered?. 21

9.  What are the Terms of the Contract? 21

A.   Incorporation of terms. 21

i.        Written terms and effect of signature. 21

ii.       Incorporation of terms by notice (ticket cases) 22

iii.      Incorporation by a Course of Dealings. 22

iv.      Statements made during negotiations. 23

B.   Implied terms. 24

i.        Terms Implied in Law.. 24

ii.       Terms Implied in Fact 24

1)     Formal contracts. 24

2)     Informal contracts. 25

iii.      Terms Implied by Custom.. 25

C.   Construing contract using extrinsic evidence. 25

i.        Parol Evidence Rule. 27

1)     Exceptions. 27

D.   Exclusion clauses. 27

E.   The requirement for good faith.. 29

10.      Termination & Breach of the Contract. 30

A.   Right to Terminate By Agreement 30

i.        Formal Requirement of Termination. 30

ii.       Termination by Express Terms. 31

iii.      Termination by Implied Right 31

iv.      Termination by Subsequent Agreement 31

B.   Right to Terminate following failure of a Contingent Condition.. 31

i.        Duty to Fulfill 31

ii.       Failure of contingent condition. 32

C.   Right to Terminate for Breach.. 32

i.        Condition vs intermediate term.. 33

D.   Right to Terminate for Repudiation.. 33

i.        Repudiation. 34

1)     Instalment Contracts. 35

2)     Misinterpretation of Contract/Mistake. 35

E.   Right to Terminate for Delay. 35

i.        Is time of the essence?. 36

ii.       Termination for delay. 36

iii.      Notice to complete. 36

11.      Restrictions on the Right to Terminate. 37

A.   Election (Affirmation) 37

B.   Ready, willing and able. 38

C.   Effect on Accrued Rights. 38

D.   Relief Against Forfeiture (Property) 38