Week 3 - Contract law - Forming a contract

key principles of contract law

1. Party autonomy (II - 1:102)

2. Binding effect (II - 1:103)

3. No requirements of written form (II - 1:106)

4. Good faith (I - 1:103)

good faith defintion

refers to a standard of conduct characterised by honesty, openness and consideration for the interests of the other party

Which 4 elements do you need for a contract

1. Intent

2. Offer

3. Acceptance

4. Sufficient

Where to find the defintion of a contract and juridical act in DCFR?

II - 1:101

what is a juridical act?

statement / agreement whether express or implied from conduct which is intended to have legal effect

How to conclude a contract?

contract is concluded if parties…

a) intend to enter a binding legal relationship

b) reach a sufficient agreement

where do you find the relevant article for concluding a contract?

II - 4:101

where can you find offer in DCFR?

II - 4:201

where can you find acceptance from DCFR?

II - 4:204

Offer and acceptance case law

• offer = carill v carbolic smoke ball

• acceptance = exploding lemonade bottle

what are the 2 kinds of offers?

1. Offers that lead to a legally binding upon acceptance

2. offers that invite to enter into negotiations