Consumer Contract Law: Understanding the Formation, Terms, and Rights in the UK, Exams of Contract Law

Download Consumer Contract Law: Understanding the Formation, Terms, and Rights in the UK and more Exams Contract Law in PDF only on Docsity! CONTRACT LAW REVIEW NOTES CONSUMER CONTRACTS - Consumer Contracts Regulations in the UK aim to protect consumers from unfair terms and practices in contracts. - A consumer is defined as an individual who is not acting in the course of a business. Formation of Consumer Contracts: 1. Offer and Acceptance - An offer is a clear indication of willingness to be bound by certain terms. - Acceptance must be communicated to the offeror to form a valid contract. Example: A retailer advertises a sale on a product, and a consumer accepts the offer by purchasing the product at the discounted price. 2. Consideration - Consideration is the price paid by the consumer in exchange for goods or services. - It must be sufficient but need not be adequate. Example: A consumer pays £100 for a mobile phone from a seller, and in return, they receive the phone. 3. Intention to Create Legal Relations - The parties must intend to be legally bound by the terms of the contract. - Social or domestic agreements are presumed not to have this intention. Example: A consumer buys a gift for a friend, and it is not intended to create a legally binding contract. Terms of Consumer Contracts: 1. Express Terms - Explicit terms agreed upon by the parties, usually written or spoken. - Must be clear and unambiguous. Example: A consumer signs a contract for a mobile phone plan with a network provider, which details monthly charges and data limits. 2. Implied Terms - Terms that are not expressly stated but are understood to be part of the contract. - Implied by law or custom. Example: The Sale of Goods Act implies that goods sold must be of satisfactory quality and fit for purpose. 3. Unfair Terms