contract

• A contract becomes legally binding...?

  as soon as the offer has been accepted
• An invitation to treat it...?

  a preliminary stage of an offer
• “Offers can be addressed to the general public and are accepted when the offer is acted upon by a member of the general public."

  The above legal principle was established in the case of?

  carlil v carbolic
• A counter-offer destroys the original offer according to which case?

  hyde v wrench
• An offer may cease to exist under the following circumstances?

  reasonable length of time, failure of pre-condition, withdrawal of an offer
• It is presumed that the parties intend to create legal relations in...?

  commercial and business agreements
• In Merritt v. Merritt, the court decided that the agreement...

  biding as the promise was made when they were seperated
• Which one of the below cases held that the parties did intend to create legal relations?

  esso petroleum
• Generally, which is NOT a rule of acceptance?

  it must be in writing
• Merely remaining silent cannot amount to an acceptance, unless it is absolutely clear that acceptance was intended. This was the legal principle in the case of Felthouse v Bindley. Which of the below is the content of the uncle’s letter?

  Offering to pay 30 pounds and 15 shillings and saying, “If I hear no more about him, I consider the horse mine at that price”
• An acceptance must be communicated to?

  an offeror
• What are the requirements for a valid and binding contract?

  Offer, acceptance, consideration, and intention to create legal relations
• What is the principle of law stated in the case of Foakes v Beer?

  Part payment of a debt is never satisfaction of the whole sum
• What does the postal rule state?

  Acceptance occurs as soon as the letter is posted
• The type of damage(s) for innocent misrepresentation is/are?

  Rescission or damages in lieu of recession
• The proposition that a party is bound by his signature on an agreement is found in the decision of?

  L’Estrange v Graucob
• Where goods no longer exist at the time of the contract, the contract may be void for Common Mistake. This is seen in the case of?

  Couturier v Hastie
• In a case of Fraudulent Misrepresentation, it is necessary that the representor?

  made the false statement with belief in its truth
• Which one of the following examples of mistakes as to quality might allow a contract to be avoided for a mistake as to quality?

  Where a set of table napkins described as being the property of William The Conqueror were in fact belonged to Queen Elizabeth II
• Statement t of opinion is not actionable because...?

  opinion is not a form of representation
• What did the courts decide in Bisset v Wilkinson?

  A statement of opinion is not actionable
• A case which held that silence, when there is an obligation to speak up, may amount to an untrue statement?

  With v O'Flanagan
• Which one of the following cases did NOT involve an issue of waiver or promissory estoppel?

  Hartley v Ponsonby
• Which of the following is NOT a type of misrepresentation?

  Tortious misrepresentation
• Where a mistake is made as to a person’s identity?

  the contract would be voidable
• In Williams v Roffey Bros, it was held the contractual duty to supply goods or services could amount to sufficient consideration provided?

  It conferred an additional practical benefit on the other party
• Moha works into the night to complete an important report for his boss, Roha. Roha is very pleased with the report and says, " I know you've worked hard on this: I'll make sure there's an extra 500 pounds in your pay at the end of the month. Prima facie, can Nitesh enforce this promise if Rosie does not want to pay?

  No, because past consideration is not good consideration
• Section 2(2) of the Misrepresentation Act 1967?

  Provides that the burden of proof lies on the representor to prove that the statement was made in belief of its truth
• In Curie v Misa (1875), it was said that a valuable consideration, in the sense of the law, may consist either in some right, interest, profit or benefit accruing to the one party, or some forbearance, detriment, loss or responsibility given, suffered or undertaken by the other. Which of the following statements best represents what this statement means?

  Consideration is some benefit enjoyed by one party or some detriment suffered by the other. It is a badge of enforceability
• What does a display in a shop window constitute?

  An invitation to treat
• Exceptions to existing contractual duty to pay debts?

  debt is paid at an earlier time, paid at a more convenient place, give something extra as part of the agreement, by a third party