FLK 1 - Contract Law

What is the exception to the past consideration rule?

If work was done at the request of the promisor, and there was an implied understanding that payment would follow - suffices!

BUT three conditions need to be met

What happens if under the UCTA, a party tries to exclude liability for negligence for damage to property?

Any attempt to exclude liability will be void UNLESS reasonable

What common law and statutory rules must be met for an exclusion clause to be effective?

1. The clause has been validly incorporated into the contract (eg via signature, notice or course of dealings between the parties)

2. The wording of the clause must cover the loss suffered

What is the exception for offers?

Unilateral contracts - ie promise of payment when dog is found

This is an instance where an advert constitutes an offer

Up until which point could an offer be terminated?

At any time until the offer has been accepted, BUT NOT AFTER unless exceptions apply

When can an offer be revoked indirectly?

1) correct information

2) from a reliable source

3) acts of the offeror indicate to a reasonable person that they no longer wish to make the offer

Who can revoke an offer?

The offeror OR by a reliable third party

What happens with rejection of collateral contracts?

A rejection or counter offer to the collateral contract DOES NOT terminate the original offer (the usual offer). Offeree is still free to accept the original offer