BU231 Chapter Notes - Chapter 10: Oral Contract, Money-B, South African Contract Law
Document Summary
Contracts can be in 3 forms: contracts are entirely spoken/oral, part oral/part written, contracts entirely in writing. If there is an indiscrepancy in contract, courts will attempt to construct a contract - tries to find the most reasonable meaning: most oral contracts are enforcable - some high risk contracts are not. Statute of frauds: makes certain types of contracts unenforcable unless in writing, 6 tyes of contracts, promise by executor or administrator to pay estate debts out of his own money, promise to pay debt (guarantee) Promise as an indemnity can be binding through oral/spoken: agreement in consideration of marriage, contracts dealing with land. Courts decided that anything to do with leasing, land building well, house fall inside of statute. Building ontop of land is not: agreement not performed within one year of making, ratification of debts incurred while a minor. Plaintiff must have relied on existence of contract and suffered a loss - detrimental reliance.
