Primer on Contract Law - Law of Contract - Lecture Slides, Slides of Contract Law

Download Primer on Contract Law - Law of Contract - Lecture Slides and more Slides Contract Law in PDF only on Docsity! Primer on Contract Law Docsity.com Background • Contract law – Formalize an agreement between two or more parties – Can cover variety of matter – Penalties for breach of contract Docsity.com Formation of a contract • To actually make a contract – Each party must be able to do so – The contract must be lawful – Each party must consent • Furthermore, several ways to get out of a contract – Mental incapacity – Coercion – Etc. Docsity.com Commercial issues • Invitation to treat • Giveaways – Commercials – Television – Radio – Internet Docsity.com Bilateral and unilateral contracts • Bilateral – Responsibilities on each side of the agreement • Unilateral – Reward contract – Advertisement Docsity.com Summary • Contract law is a complicated legal issue • Requirements – Entering in to a contract – Obtaining a way out of a contract – Preparing a contract – Advertising a contract Docsity.com References • Martin, E [ed] & Law, J [ed]. (2006) Oxford Dictionary of Law, ed6 (2006, London:OUP). • Steyn, L. (1997) 'Contract Law: Fulfilling the Reasonable Expectations of Honest Men' 113 LQR 433; c.f. § 133 BGB in Germany, where "the actual will of the contracting party, not the literal sense of words, is to be determined” • Wehberg, H. (1959), Pacta Sunt Servanda, The American Journal of International Law, Vol. 53, No. 4 p.775.; Trans-Lex.org Principle of Sanctity of contracts. Docsity.com