CLUSTER 2: PRIVATE LAW - Contract law 1: formation
15 important questions on CLUSTER 2: PRIVATE LAW - Contract law 1: formation
What is a legal contract?
What are the 3 phases of a contract that should be regulated?
2. ConsequencesL
- content of contract (obligation, interpretation of contract, good faith(
- remedies in case of non-performance
3. Termination (can also be a remedy)
Upon what conditions is a contract concluded?
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When is there an intention to be bound?
When is there an agreement between parties?
When is the requirement of consideration met?
On what can a consideration be based?
What 4 issues can arise within formation of a contract?
2. Defect of willl (intention)
3. No reqruiement of consideration.
What is hard about determining if the condition of intention is met?
When will an issue of defect of will arise? (name 2)
defective will to be bound: intention of a party has not been arisen in a proper manner.
When will a contract be declared invalid or void?
What are the conditions under which a contract will be invalidated by court based on defect of will under the civil law system?
2 Fraud: a party by devious means caused the other party to agree to the contract
3. Threat: one party threatened the other party into agreeing
4. Undue influence: abusing one parties vulnerable position into favourable contractual conditins.
What are the conditions under which a contract can be invalidated by court based on defect of will under the common law system?
What does ceveat emptor mean?
What is the essential difference between misinterpretation and mistake?
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