Anglais, Contract

TD1 – Anglais

Contract = agrement between 2 or more competent parties = create legal obligation

Offeror =

Offeree = some obligation

Feeling to do what you promise to do.

= A unilateral contract consists of a promise on the part of the offeror and performance of the requisite terms by the offeree.

= A personn or entity to whom an offer to enter into a contract is made by another (the offeror).

• Need to accept the conditions.
• Intention : a determination to act in a certain way : resolve

Conditions : Age and stability

Offer # Invitation to treat (= for example, the offer is not obligate to sell to the personn)

Auction = invitation to treat = a public sale in which goods or property are sold to the highest bidder = not obligation to sell

Presumptions = Rebuttable or irrebuttable

Elements of contract = acceptance, intention, capacities, consideration (=price),  

Rights and obligation = What is the difference ?

• Obligation = consequence, something which apparty as to do, or give up to gets some rights.
• Right = an advantage, is something positive which apparty one to the contract,

Vitiating of contract:

Misrepresentation: A misrepresentation is an untrue or misleading statement of fact which induces a person into a contract. The misled party may normally rescind the contract, and may be awarded damages as well (or instead of rescission). There are three categories of misrepresentation: fraudulent, negligent and innocent.

Voidable or Void:

Void means there is no legal obligation therefore there will be no breach of contract since the contract is null.

Voidable is a transaction or action that is valid but may be annulled by one of the parties to the transaction.

Mere puff:

Statement of opinion: point of view

Innocent misrepresentation: you make a representation believing it’s true

Fraudulent misrepresentation: intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right.

Negligence:

Duress: such constraint or coercion as will render void a contract or other legal act entered or performed under its influence.

You can have a mistake mutual, unilateral or common=  3 different types of mistake.

For the common:

Res Subject matter (the object you want to by; for example, a house, a car, a smartphone, clothes, etc).

Res extinta = non existant; the subject matter of the contract no longer exists

Res sua = where the goods already belong to the purchaser

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