MLL111 Study Guide - Final Guide: Meeting Of The Minds, London Agreement On German External Debts, Market Liquidity
Document Summary
Creation of a contract essential elements 3. Termination of offer 5: revocation 5. Failure of a certain condition/essential condition in a conditional offer 5. Lapse of time 5: death 6, change of circumstances 6. Exception: agreement without offer and acceptance 8. Rebuttal of presumption" (exceptions) 9: honour clauses 9. Letters of comfort - have to be promissory in nature. Spouses living together in harmony (previously presumption) 9. Incomplete agreements / agreements to negotiate 11. Joinder- more than one document forming a contract 11. Essential elements of consideration 12: benefit/detriment requirement 12, bargain requirement 12. Rules of consideration 13: consideration must move from the promisee 13, consideration must be sufficient but need not be adequate 13, past consideration is not considered sufficient consideration 13. Exception: a promise to pay for past services 13. Exceptions to the rule in pinnel"s case: 14. Forbearance to sue or compromise or a disputed claim 15.
