Contract Law ppt

[...]... specification’ in Hillas v Arcos (1932); the contract itself, which provides a method for resolving an uncertainty In Foley v Classique Coaches (1934), there was an executed contract where the vagueness of ‘at a price to be agreed’ was cured by a provision in the contract 17 Cavendish LawCards: Contract Law referring disputes to arbitration Cf May and Butcher v R, an unexecuted contract, where the court refused...Cavendish LawCards: Contract Law Subject to contract The words ‘subject to contract may be placed on top of a letter in order to indicate that an offer is not to be legally binding (Walford v Miles (1992)) Termination of the offer Revocation... something to indicate that the promisor intended to be bound, that is, there is some: Consideration is the normal ‘badge of enforceability’ in English law 19 Cavendish LawCards: Contract Law Definitions of consideration A valuable consideration in the eyes of the law may consist of (Currie v Misa (1875)): Ü either some right, Interest, profit or benefit to one party; or Ü some forbearance, detriment, loss... flexibility 25 Cavendish LawCards: Contract Law Performing an existing contractual duty Where the duty is owed to the other party, this cannot be consideration for: A request for extra payment Ü In Stilk v Myrick (1809), the captain promised the rest of Ü the crew extra wages if they would sail the ship back home after two sailors had deserted Held—the crew were already bound by their contract to meet the... A conditional acceptance may be a counter offer capable of acceptance, for example, I will pay £500 for your car if you paint it red If the owner agrees to this condition, a contract will be formed 9 Cavendish LawCards: Contract Law Acceptance The fact of acceptance An acceptance is a final and unqualified assent to all the terms of the offer A valid acceptance must: Ü be made while the offer is still... that silence of the offeree is to amount to acceptance In Felthouse v Bindley (1862), the 11 Cavendish LawCards: Contract Law plaintiff wrote to his nephew offering to buy a horse, and adding, ‘If I hear no more I will take it that the horse is mine’ The nephew did not reply to this letter Held—no contract Acceptance had not been communicated to the offerer It has been suggested that this does not... used where it would lead to manifest inconvenience 13 Cavendish LawCards: Contract Law Query—can a letter of acceptance be cancelled by actual communication before the letter is delivered? There is no direct English authority on this point Arguments against Logic—once a letter is posted, the offer is accepted; there is no provision in law for revoking an acceptance Ü The ‘logical’ view is supported... entitled to Ü In Shadwell v Shadwell (1860), an uncle promised to pay an annual sum to his nephew on hearing of his intended 27 Cavendish LawCards: Contract Law Ü Ü marriage The fact of the marriage provided consideration, although the nephew was already legally contracted to marry his fiancée In Scotson v Pegg (1861), A agreed to deliver coal to B’s order B ordered A to deliver coal to C who promised... held that, since this promise was made after the sale had been completed, there was no consideration for it and it could not be enforced In Re McArdle (1951), a promise made ‘in 21 Cavendish LawCards: Contract Law consideration of your carrying out certain improvements to the property’ was held by the Court of Appeal to be unenforceable as all the work had been done before the promise was made Exceptions... consideration must have some economic value But, economic value is extremely difficult to discern in the other cases cited above Since consideration is a ‘badge of enforceability’, it is 23 Cavendish LawCards: Contract Law argued that nominal consideration is adequate; it is only designed to show that the promise is intended to be legally enforceable—whether it creates any economic advantage is therefore irrelevant . which is properly submitted. Cavendish LawCards: Contract Law 6 Subject to contract The words ‘subject to contract may be placed on top of a letter. it red. If the owner agrees to this condition, a contract will be formed. Cavendish LawCards: Contract Law 10 Acceptance The fact of acceptance An acceptance