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Formation of a Simple Contract - Fundamentals of Law - Lecture Notes, Study notes of Law

These are the lecture notes of Fundamentals of Law. Key important points are: Formation of a Simple Contract, Rules Governing, Must Be Communicated, Mental Acceptance, Without Overt Action, Revocation, Counter Offer, Prescribed or Reasonable Time, Conditions Not Fulfilled, Effective Until Received

Typology: Study notes

2012/2013

Uploaded on 01/19/2013

parni
parni 🇮🇳

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Formation of a Simple Contract
Offer + Acceptance = Agreement
Rules governing:
Rules governing:
1. Must be
communicated
1. Must relate to the
offer
2. May be made to
the world
3. May be revoked at
any time
2. Mental acceptance
(without overt action)
is insufficient
3. Must be unqualified
4. Distinguished from
binding options
and from
invitations to treat
4. Method must
conform with offer
5. If offer is silent as to
method, that chosen
is to be appropriate
6. If mailed, effective
from time of posting
7. Communication by
agent to be authorised
Other possible
responses
8. Communication may
be dispensed with
Revocation Rejection Lapse = No Agreement
Rules governing:
Rules governing:
Rules governing:
1. May occur
any time
before
acceptance
2. If mailed, not
effective until
received
1. May be
express
2. Will be
implied from
counter-offer,
but not from
request for
information
1. On notice of
death of
offeror
2. If not
accepted
within
prescribed or
reasonable
time
3. If conditions
not fulfilled
Agreement + Intention + Consideration = Contract
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Formation of a Simple Contract

Offer + Acceptance = Agreement

Rules governing: Rules governing:

  1. Must be communicated 1. Must relate to the offer
  2. May be made to the world
  3. May be revoked at any time 2. Mental acceptance (without overt action) is insufficient 3. Must be unqualified
  4. Distinguished from binding options and from invitations to treat 4. Method must conform with offer 5. If offer is silent as to method, that chosen is to be appropriate 6. If mailed, effective from time of posting 7. Communication by agent to be authorised Other possible responses
  5. Communication may be dispensed with

Revocation Rejection Lapse = No Agreement

Rules governing: Rules governing: Rules governing:

  1. May occur any time before acceptance
  2. If mailed, not effective until received 1. May be express 2. Will be implied from counter-offer, but not from request for information 1. On notice of death of offeror 2. If not accepted within prescribed or reasonable time 3. If conditions not fulfilled

Agreement + Intention + Consideration = Contract

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