LEGAL204

• A contract is an agreement between two or more persons intended to be enforceable at law.”
•   Agreement in the two key forms (Offer and acceptance).
• The key aspect of Economic theory being, Freedom of contract.
• factors that bring a contract down, misrepresentation, mistake, exploitation and illegality
• remedies of contracts, damages, cancellation, specific performance and injunctions
• contract jurisprudence has 2 theories
• liberal theory, promotes the individual rights, liberty and free enterprise, this is looking AT the written agreements
• communitarian shaped by community relationships this is looking through agreement to community values and fairness
• Has an agreement been formed; we look through objective manifestations from a bystander’s perspective.
• A definite promise to be bound provided that certain specified terms are accepted.
• Puff statements seeking to induce contract, but not which are so far-fetched no reasonable person would believe them. Exaggeration overstating facts.
• objective or global approach whether, viewed as a whole and objectively from the point of view of a reasonable person on both sides the dealing shows a concluded bargain.
• acceptance A final and unqualified assent to the terms of an offer.
• Invitation to treat statements to others inviting them to make offers. This is NOT an offer itself,
• Acceptance by conduct is where the court determines if there is an appearance of a mutual agreement, this can be inferred by writing, words or conduct.
• This section considers waiver of communication. These can be expressed or inferred by the circumstances.
• Issue: whether K&W had accepted the offer by their (subsequent) conduct?  Our focus here is by acceptance by conduct.
• Knowledge of offer An acceptance must be made in reliance on the offer. An offer cannot be accepted unless the acceptor is aware of its existence and its terms.
• cross offer When parties forward identical offers to one another at the same time. Two offers, neither of which was accepted = no contract.
• Inquiries/requests for more information, does the reply to offer insist on terms different from offer.
• Conditional acceptance is when each party intentionally or otherwise indicates that any contract entered into is to be governed by that party’s standard terms of the contract. sometimes known as 'the battle of the forms.'
• Communication of acceptance, the general rule is that acceptance must be communicated to the offeror.
• Silence: The general rule an offer cannot stipulate that silence will be accepted.
• Waiver of the need for communication: the waiver is enough that they fulfil the conditions without notification. the offeror must expressively imply this.
• Mode of communication: If offeror specifically requires acceptance in a certain way; then acceptance must be given in that particular way OR by another method which is as quick or quicker.
• communication by telephone, telex of facsimile if no mode is specified, acceptance must be received by the offeror.
• Communication by post: is an exception to the rule that acceptance is completed at the time it reaches the offeror.
• 'the posting rule' where acceptance is made by post, the contract is completed the moment acceptance is posted by offeree.
• recalling and retracting acceptance is for the offeree to recall by a faster mode than acceptance itself
• Web-based transactions: the purchaser is requested to signify agreement to specific terms and conditions, otherwise courts will determine whether purchaser is offering to buy or sell.
• Email, text SMS messaging: laid out in Contract and Commercial Law Act 2017, ss 213 - 216 specify when messages have been deemed dispatched and received.
• s 217 of CCLA determines received to be at the time of receipt.
• revocation: withdrawing an offer before acceptance this MUST be offeror.
• Lapse of time: Express & Implied, the court has the ability to read this.  
• Condition fails: expressed or implied, stated within documents or courts will apply the test of a reasonable person.
• Offeror dies: The offer will lapse at the same time.
• Lapse due to fundamental change of circumstance.
• When considering intention we must consider. Not all agreements made between people will be enforceable contracts
• Intention to be legally bound is a necessary element in the formation of contracts.
• Intention is objectively ascertained.