Lecture 4

Introduction to  Contract law:

Contract law is seen in mostly everything and is the base knowledge of law.

Contract law is private law because it is personal between you and the other contracter.

Eg: A bank loan and the borrower (no one else cares) -no one needs to know (mortgage can be kept secret

Therefore it is not public law (this affects society at large -environmental/ criminal law)

Private law (contract law) doesnt affect society.

Eg:

Public law:

International, regional , Constitutional

Private law:

Family law (divorce, marriage- between the family even tho it involves social worers)

Property law (buyer and seller)

Company & Trusts

Law of obligations (obligation to not injure or damage anyones property)

Law obligations:

Torts

Contract law (if u break these obligtions they can sue eve if u dont sign a proper contract, then u RE CRIMINALLY LIABLE)

-rESTITUTION

Wht is a contraact?

A contact is concluded between 2 or more parties to who agree to a set of obligations

It is IMPORTANT volutary, contracts may be removed if it is achieved in a criminal manner (torture, threat, loan sharks)

They are economical exchanges

Breach of Contracts:

-Ifa party breaches a contractual obligation, there is usually a money compensation

Every contact starts with an offer

Some contracts can be revoced (revocation of offers)

(key word: arbitration)

Treitel defines a contract as:

-An agreement

Objectivity = we can only come to a decision based on what we can see, wht we can hear or wht is wrritten down (EVIDENCE BASED)

Subjectivity = concerened with what the person is thinking

However wwe’re not here to study psychology so we work based on evidence, excpt theres enough strong evidence to putweigh intention and action (manslaughter)

A contract doesnt need to be written down, however a good commercial lawyer would make a contract so theres no room for interpretation

Smith vs HUGHES

Smith showed sample of oats to Hughes, hughes saw a oats and agrreed even if tht wasnt intentional

You cant just snap up a bargain bc of a contractual mistake, but if there was no other evidence of this then the

An offer/ invitation to treat:

An offer is an expresson of willingness to contract

A clear/ unequivocal unambiguous offer is binding

Invitation to treat = willingess to negotiate

Display offshop items are invitation treat

Offers to buy from custoenrs is only when they take an item to the till

Ads are not offers but are invitation to treat

Bilateral contract SO FAR (2 parties one makes offer, other acceps-straightforward)

Unilateral contract:

Offers made to the world (reward money for missing dog, rewad for info)

An offer is only legally binding until theyve accepeted

Contract law is only accepted when the offeree knows of acceptance of the rewrd regardless of place.

Email to holland to lonon, offerer received this in London so english laws apply

Silence cannot be an acceptance it needs to be thru acceptance. The person cant impose silence on the offeree but the offeree can impose silence on themselves as an offer

Postal rule

Acceptance comes from when its posted