Lecture notes
Simple intro to contract law
Simple intro to contract law
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Seller
Follow
Content preview
Contract LawLecture 1 – Introduction
You should be more familiar more with reasoning of cases rather than what happened
Treitel defines a contract as:
- An agreement
- Giving rise to legal obligations
- Which are enforced or recognized by the law
Principles of contract –
- Context of contract within private law
- Contract: expectations engendered by a binding promise should be fulfilled
- Tort: compensation must be granted for the wrongful infliction of harm
- Restitution: unjust enrichments must be reversed – something has gone wrong but there is
no duty but someone has made profit or obtained financial benefit – this must be reversed
but there isn’t a contract however, we do not want this happening in our society (more
relating to equity)
Contract definition –
- A legally enforceable agreement between two parties
- An obligation which is voluntarily assumed
- A vehicle for planned exchange
From this we get = Notion of bargain is key – what did the parties intend?
Court to give effect to intention of the party – analysis of contract law, doesn’t consider big public
policy considerations which will affect contract in some ways
Legal rules in contract –
There are three types:
1) Rules on the formation and content of agreements – need to show a contract has been
made
2) Rules on the enforcement of agreements
3) Rules distinguishing those agreements which are enforceable from those that are not
Theories of contract –
- Market individualism vs welfare protectionism
- The interplay of the common law and statute
- Economic efficiency (cost savings)
- Certainty (rules) vs flexibility (purpose)
- Importance of Intention- Role of Judge – there is no straight forward answer
Types of Legal Problems –
- Evidential problems: what evidence the court will look at when making its decision?
- Behavioural issues or perceived unfairness: does it always matter how a contracting party
acts?
- Philosophical or Semantic problems: what do words really mean?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller edenwillis2. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £2.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79223 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now