BURROWS Agreement (Chp 1-2)

Treitel’s definition of a contract

Agreement giving rise to obligations which are enforced/recognised by law

Bilateral contract

mutual promises to do something in return for the other party to do something

unilateral contract

one party promises to do something where another person is doing something, but the latter is not under a duty to do so

simple contracts

binding because of agreement and consideration

Contracts by deed

derive validity from form; can bind the promisor before communicated to the promisee

American Law Institute definition of contract

legally binding (set of) promise(s) for the breach of which the law gives remedy/the performance of which the law recognises as a duty

Consideration

something which must be given in exchange for a promise

Peel’s definition of ‘offer’

expression of willingness to contract on specific terms, made with the intention that it is to become binding

Invitation to treat

expression of willingness to negotiation; no intention to be instantaneously bound

Acceptance

final expression of assent to the exact terms of an offer

Mirror-Image Rule

offer and acceptance must exactly coincide

Revocation

can be at any time before acceptance; must be communicated

Methods of termination of an offer

Revocation, rejection, lapse of time, death of offeror

Denning in Butler v Ex-Cell-O

criticises offer and acceptance definition of out-of-date/artificial

Lord Wilberforce

‘forcing facts to fit uneasily into the marked slots of offer, acceptance and consideration’

What can prevent agreements from being legally enforceable?

being too vague or too incomplete

What balance do the courts have to make regarding certainty in contracts?

giving effect to the intentions whilst not making the contracts for the parties

General presumption of intention to create legal relations

commercial

General presumption against intention to create legal relations

social/domestic relations