Chapter 8 - Contract law 2. At the end of this chapter you should understand: the capacity of parties to contract; whether or not a contract with a minor is valid, void or voidable; reality of consent and why it must be present to form a valid contract;…
This is the prescribed textbook for your course Available NOW at your campus bookstore! Copyright © 2014 McGraw-Hill Education (Australia) Pty Ltd PPTs to accompany Barron, Fundamentals of Business Law 7Rev 2-1 CONTRACT LAW CHAPTER Copyright â 2014 McGraw-Hill Education (Australia) Pty Ltd PPTs to accompany Barron, Fundamentals of Business Law 7Rev •2-2 Learning objectives At the end of this chapter you should understand: • • • • • • the capacity of parties to contract whether or not a contract with a minor is valid, void or voidable reality of consent and why it must be present to form a valid contract the concepts of ‘mistake’, ‘misrepresentation’, ‘duress’, ‘undue influence’ and ‘unconscionable conduct’ the defence of non est factum the remedies available to an injured party Copyright © 2014 McGraw-Hill Education (Australia) Pty Ltd PPTs to accompany Barron, Fundamentals of Business Law 7Rev •2-3 Learning objectives (cont.) • the element of legality of object, both by statute and at common law • what a contract ‘in restraint of trade’ is and when it will be enforceable • the effect of illegality on a contract • the circumstances in which illegal terms of a contract may be severed Copyright © 2014 McGraw-Hill Education (Australia) Pty Ltd PPTs to accompany Barron, Fundamentals of Business Law 7Rev •2-4 Capacity of parties • Minors • Persons of unsound mind or intoxicated (alcohol, drugs) Bankrupts Corporations Copyright â 2014 McGraw-Hill Education (Australia) Pty Ltd PPTs to accompany Barron, Fundamentals of Business Law 7Rev •2-5 Limited capacity—minors Minor (i.e