WHAT IS A CONTRACT?

A contract is an agreement between

two or more parties under which legal
rights and obligations are created
which are enforceable in the court
CLASSIFICATION OF CONTRACTS

Simple Bilateral
contracts contracts
Vs. Vs.
Contracts Unilateral
under seal contracts

Express
Valid
contracts
Voidable
Vs.
Void
Implied
Unenforcement
contracts
 Offer and
acceptance
Intention to
Legality of
create a
objects
contract
Elements
of a valid
contract
Genuine Form or
consent consideration

Legal
capacity
 OFFER
AND
ACCEPTANCE
 OFFER
is a proposal by one party that, if
accepeted by the other party, results
in a legally binding contract
 May be made
to one or more
people Must be distinguished
May be revoked from mere puffs,
or lapse invitation to treat and
statements supplying info
Rules as
to
Offers
Must be All major
communicated terms must be
May specify
to offeree included
conditions to
be follwed
 MERE PUFFS

OFFERS

STATEMENT
INVITATION TO
SUPPLYING
TREAT
INFORMATION
 MERE PUFFS

Carllil v Carbolic smoke ball

INVITATION TO TREAT

OFFER

CONTRACT
Who offer?
 Offer
or
invitation to treat?

25/- for each

 STATEMENT SUPPLYING INFORMATION

Will you sell us Bumper Hall Pen?

Telegraph lowest cash price-answer paid

Lowest price for

Bumper Hall Pen
Harvey £900

Facey

Offer or statement supplying info?

 Auction sales

May specify conditions

to be follwed

Online sales Tenders

 Auction sales

ACCEPTANCE

OFFER
Online sales
 REVOCATION
An offer can be revoked at any time
before acceptance
and must be communicated to the offeree.
 LAPSE OF OFFER
An offer will lapse:
- if not accepted within the time stated;
- if not accepted within a reasonable time;
- if counteroffer is made;
- death;
- loss of contractual capacity.
 Can be by Must be
conduct but communiccated Must be to
cannot be response to
imposed by the offer
silence Rules as to
Acceptance
Can only be
accepted by a
person to Must be
Must follow
whom offer unconditional
any method
directed set out in
offer