Law 2101 Chapter Notes - Chapter contract: Specific Performance
27 Apr 2018
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Contract law- readings
Readings: CT2- CT22
Contract formation: offer
• Offer is an expression by one party of his assent to certain definitive terms, provided that the
other party involved in the bargaining transaction will likewise express his assent to the identically
same terms
• An offer looks forward to an agreement- to mutual expression of assent
• It must be an expression of will or intention
• Must be an act that leads the offeree reasonably to believe that a power to create a contract is
conferred upon him
• An expression of willingness to make a contract is not operative as an offer unless it is made in
such a manner as justifies another person in thinking that it is directed to him for his acceptance
• In order to be legally operative and create a power of acceptance, it is necessary that the offer
shall contain all the terms of the contract to be made
• When parties arrange for a sale "subject to contract" that means, as a rule, that there is no
binding contract until the contracts of sale have been formally exchanged
• But where there is no arrangement "subject to contract", the only question is whether a contract
has been concluded
• I cotracts you do’t look ito the actual itet i a a's id
o It is what one said and did
• A contract is formed when there is, to all outward appearances, a contract
• Intention is to be found only in the outward expression
Contract formation: acceptance
• When an offer has been rejected it is thereby ended and it cannot be afterwards accepted without
the consent of him who made it
• Counter-offer
o Contained an inquiry as well but was one which called for an answer only if the counter-
offer was rejected
Consumer Protection Act
• Recipient of unsolicited goods or services has no legal obligation in respect of their use or disposal
Acceptance & Certainty
• It is a fundamental principle of contract law that offer and acceptance must state the significant
terms of the proposed contract with sufficient certainty and definitiveness, otherwise there will be
no contract
Contract formation: consideration
• A contract consists of an exchange of promises, acts or acts and promises, as a result of which
each side receives something from the other
• There had to be some material advantage passing to or promised by one party before a promise
given in exchange could be regarded as a contract
• If there is no consideration there is no contract; and if there is no contract there is nothing upon
or from which to found or create liability
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