LAWS 506 - CONTRACTS

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Lecture 1 – Introduction & General Principles
Akanisi N Vakawaletabua
Monday 25 January 2016
1
Overview
 Introduction
 Course Topics
 Intro & Expectations
 Lectures & Tutorials
 Assessments
 Reading Material
 Break
 Introducing General Principles
2
Course Topics
1.
2.
3.
4.
5.
6.
Introduction & General Principles
Offer and Acceptance
Consideration
Formative Req’ments: Intention, Certainty and
Completeness
Terms of the Contract (TOC)
Regulation of the TOC
3
Introduction & Expectations
 Unit Descriptors – on MOODLE next week.
 Achieving Learning Outcomes
 Reading Material
 Critical Thinking /Analysis
 Participating
 Law in Context (Application)
 Integrity (Currency)
 Being on Time
 Hard Work
 Remember I only provide you with learning tools it is up to
you to use it to your advantage.
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Introduction & Expectations
 Question Time
 Real Life Application of Theory
 Contracts requires a lot of practical examples
 Respect Yourselves, Each Other and this Learning
Space
 Guest Speaker(s)
5
Lectures & Tutorials
 Attendance will be taken at both
 If you cannot make it please email me or tell me in
person
 Ideally Lecture notes and Tutorial Problems will be on
Moodle the week of or before.
 More group work and participation required in
Tutorials so come prepared.
 Great basis to form study groups during this course
6
Consultation Hours
 Rm 2 – H204
 12-2pm Thursdays
 Email: [email protected]
 Drop-in sessions: 2 hours (Contracts) TBC
7
Assessments
 Assignment 1 (Due Week 7)
 Assignment 2 (Due Week 12)
 Test 1 (Week 6)
 Test 2 (Week 11)
 Final Exam
15%
15%
15%
15%
60%
40%
8
Reading Material
 Most of the textbooks for this course are available in
the library for your reading.
 Otherwise the INTERNET is your best alternative to:
 Understanding basic concepts
 Looking up cases
 Other Research
 Whilst using the INTERNET/Textbook ensure that:
 Source of Information is trusted
 ALWAYS CITE YOUR SOURCES
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Remember Yourself!
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What is a Contract?
 The essentials are the rights, duties and liabilities that
arise from the promise or promises made by the
parties.
 Key elements are:
 A Promise or promises
 Promise(s) to be between two or more legally capable
people (Parties)
 Promise(s) to create an obligation
 Obligation to be enforceable at law.
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What do Courts look at?
 Courts look at the formation, performance,
continuance, and discharge of the parties’ individually
created obligations. Therefore:
 Applies the law of contract to see whether the agreement
is legally valid and enforceable.
 If the Court decides that it is a valid contract then it
interprets the words to determine the nature and extent
of what parties have agreed to.
 How does Contract Law differ from other areas of
law?
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Void, Voidable and Enforceable
Contracts
a) Void Contracts: void ab initio void from the
beginning due to missing element. Parties would be
in the same position as if the contract had never
been made.
b) Voidable Contracts: where one of the parties to the
contract has an 0ption to continue to cancel the
contract because of some vitiating factor such as
duress or undue influence.
c) Unenforceable Contracts: is one recognised by law. It
is valid but due to technical defect one or both
parties cannot be sued on it. Eg: Some oral contracts.
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Elements of a Contract
 To be a contract (enforceable by law) the arrangement
between parties must exhibit certain key elements.
 Without those elements, the agreement is not a contract
and the courts cannot enforcement.
 These elements are as follows:







Offer
Acceptance
Consideration
Intention to be bound
Capacity
Reality of Consent; and
Legality
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Elements of a Contract
 In combining the seven elements it would read as follows:
“An offer and acceptance taken together form the
agreement to be given legal force. In simple contracts that
agreement must be supported by consideration to
establish the obligation; the parties must have the
intention to be bound. The parties must voluntarily
enter the contract (reality of consent) and have the legal
capacity to reach a binding agreement and the subjectmatter of agreement must be legal”
- If the above 7 elements are present, the agreement will be a
contract that will be legally enforced.
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Problem
 A and B negotiated the sale and purchase of B’s house in
Sigatoka. They reach an agreement. A has second
thoughts and refuses to sign. A week later B writes to A
saying:
“I understand that you do not wish to proceed with our
agreement. To resolve matters quickly, I am prepared to
proceed on the same basis but will accept $1000 less. If you
wish to go ahead, please let me have your cheque for the
deposit.”
A replies:
“I am prepared to proceed on the basis outlined in your letter.
My cheque for the deposit is enclosed. ”
Is there an enforceable contract against either A or B?
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