Law of Contract Exam Questions and Answers 100% Solved Graded A+
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Course
Law of contracts
Institution
Law Of Contracts
Law of Contract Exam Questions and
Answers 100% Solved Graded A+
Definition of animus contrahendi - The intention of parties to enter
into a legally enforceable agreement.
Tree types of agreements which are NOT contracts: - * Obligatory
Agreements
* Absolving Agreements
* Real/Transfer Agree...
actual meeting of the minds of the parties (concursus animorum).
Subjective consensus of this nature exists when all the parties involved:
* seriously intend to contract;
* are of one mind (ad idem) as to the material aspects of the contract -
namely, the terms of the proposed agreement, and the identity of the
parties to it; and
* are conscious of the fact that their minds have met - as a learned
commentator has pointed out, it is not enough that you wish to sell me your
book for R1 000 and that I would be willing to buy it at
that price: 'Our minds are on parallel tracks, but a contract emerges only
when the tracks intersect.
Communication of intention has three facets: - ✔✔* True intention
* Expressed intention
* Perceived intention
Cornerstones of contract: - ✔✔Consensus and reliance and the two
fundamental concepts.
Other fundamental ideas:
* Freedom of contract
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