《英美契约法》(双语)资料.docx
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1、I. Explain the following terms.1 . contractA valid contract is an agreement, formed by the mutual consent of the two parties.A contract may be definfed as an agreement, which legally binds the parties. The underline theory is that a contract is the outcome of consenting minds. However,parties are ju
2、dged by what they have said, written or done, rather than by what they are actually think.An agreement which the law will recognize and enforce which , apart from other important applications, forms the basis of most business relationships and transactions.2 . condition termA condition is a core ele
3、ment of a contract. It is fundamental to the existence of the contract.Breach of a condition entitles the injured party to:(1) repudiate the contract (ie. treat contract as discharged); and(ii)claim rescission which would enable him to receive property transferred; and (iii)claim damages: Poussard v
4、. Spiers.3 . Exclusion clauseExclusion clause are clauses which purport to exclude liability altogether, or to restrict it by limiting damages or by imposing other onerous conditions.4 . Consideration(a)It is the element of value in the agreement.(b)Both parties must bring something of value to the
5、agreement.(c)E.g. A sells B a car for 1. A and B are both providing value.(d) An act or forbearance of one party or the promise thereof is the price for which the promise of the other is bought and the promise thus given fbr value is enforceable: Dunlop v Selfridge.5 .Promissory estoppelIf the doctr
6、ine of promissory estoppel applies then the creditor may be estopped from suing for the balance of the original debt.The doctrine may apply if:(a) the creditor agrees to accept part payment in full and final settlement of a debt; andthe creditor intends that the debtor will rely on the agreement; an
7、d(b) the debtor does act in reliance on the agreement (it is not sufficient merely to pay the lower amount).6 .Warranty termA warranty is collateral to the main purpose of the contract. It is not essential. Breach of a warranty entitles the injured party to claim damages only: Bettini v. Gye. 7. The
8、 standard form contractMass production and nationalization have led to the standard form contract.The standard form contract is a document prepared by many large organizations setting out the terms which they contract with their customers. The individual must usually take it or leave it. For example
9、, a customer has to accept his supply of electricity on the electricity boards terms - he is not likely to succeed in negotiating special terms, unless he represents a large consumer such as a factory.8 . offerAn offer is a definite promise to be bound on specific terms. An offer may be defined as f
10、ollows:An express or implied statement of the terms on which the maker is prepared to be contractually bound if it is accepted unconditionally. The offer may be made to one person, to a class of persons or to the world at large, and only the person or one of the persons to whom it is made may accept
11、 it.A definite offer does not have to be made to a particular person. It may be made to a class of persons or to the world at large.9 .Past considerationPast consideration does not actually count as valid consideration, therefore no agreement resting on past consideration is legally enforceable. Nor
12、mally consideration is provided either at the time of the creation of a contract or at a later date.1().express termAn express term is one which has been clearly stated orally or in writing, or may be by reference at the time of contract.11 .executory considerationExecutory consideration is the prom
13、ise to perform an action at some future time. One party to a contractual agreement may pay money to another on the understanding that the latter will perform some act for them in the future. Or alternatively they might provide an immediate benefit for the other party on the understanding that the la
14、tter will provide a reciprocal benefit in the future. Contracts may also be made solely on the basis of an exchange of promises as to future action, without the need for any present action. In such circumstances the mere promises provide mutual/reciprocal consideration and any such agreement entered
15、 into is legally binding and enforceable in a court of law. Such a contract is known as an executory contract.12 .Liquidated damagesLiquidated damages are such a fixed or ascertainable sum agreed by the parties at the time of contracting, payable in the event of a breach. They must be a genuine pre-
16、estimate of loss. Any such sum which is not a genuine pre-estimate, but is intended to be an onerous punishment, is termed a penalty clause.13 . AcceptanceAn unconditional assent to all the terms of the offer: Neale v Merrett(a) It is important to identify a clear offer, and unconditional acceptance
17、.Negotiations may constitute a series of counter offers, each party trying to impose their standard terms on the contract: the battle of the forms/* Hence if faced with this type of question ensure that you identify what is happening at each stage of the negotiations until you have a clear offer and
18、 acceptance.(b) Acceptance may only be made by authorised person: (compare revocation).(c) Must be made whilst the offer is still open ie:(i) before revocationbefore any time limit specified has expired(ii) before the offerees deathInnominate termInnominate term is a term which cannot be categorised
19、 at the start of the contract. The court will look at the effect of the breach: Hong Kong Fir Shipping Company v Kawasaki Kisen Kaisha.15.off erAn offer is a definite promise to be bound on specific terms. An offer may be defined as follows:An express or implied statement of the terms on which the m
20、aker is prepared to be contractually bound if it is accepted unconditionally. The offer may be made to one person, to a class of persons or to the world at large, and only the person or one of the persons to whom it is made may accept it.A definite offer does not have to be made to a particular pers
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