1 / 22

Functions of Contract Law

Learn about the functions of contract law, including regulating formation, providing grounds for contracting parties and courts, and answering questions about existence, breach, and compensation. Understand the key elements of contract formation and the different forms a contract can take.

reber
Download Presentation

Functions of Contract Law

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Unit 16ContractLaw

  2. FunctionsofContractlaw • Read the introductory paragraph, p. 156 and complete the notes about the functions of Contract law. • to regulate the formation ____________ • to provide grounds for the contracting parties to be __________ by the contract • to provide grounds for the courts to ______ a contract • to anser the questions about • A) the existence of a___________ • B) the b_____________ • C) the c_____________ for the injuered party

  3. Whatis a contract? – Fillinthegaps. agreement, obligation, consideration, capacity, fraud, illegal It is an agreement that creates a binding (1) ________ upon the parties. The essentials of a contract are as follows: mutual (2)_________; a legal (3)___________, which in most instances need not be financial, parties who have legal (4) ___________ to make a contract; absence of (5) ___________ or duress; and a subject matter that is not (6) _______ or against public policy.

  4. Vocabulary work • Do the exercise II, p. 155 in your book. • Explain the phrases and translate them into Croatian • Match the prases and the given definitions

  5. General requirements for contract formation: • possessing legal capacity (two of more parties) • the object of the contract must be acceptable by the law • in some cases a particular form is required, a contract made in writing (e.g. sales contracts)

  6. Keyelementsofcontractformation OFFER (offeror) + ACCEPTANCE (offeree) = ENFORCEABLE + CONTRACT CONSIDERATION *enforceablecontract= legallyvalidandbinding (the courtscanforcetheparties to abideby it, theyexpressedtheintention to belegallybound)

  7. Consideration Common law jurisdictions both parties to a contract must bring something to the bargain money anything of value to the parties Eg. I Eg. II Party A – a farm (consid.) Party C – clerical work (consid.) Party B – a million dollars Party D – food and shelter (consid.) (consid.) *Civil law jurisdictions – no consideration (a promise does not need consideration to be enforceable)

  8. Agreements becoming contracts agreement + intention to be CONTRACT legallybound (legalconsequences) COMMERCIAL FAMILY AND SOCIAL AGREEMENTSAGREEMENTS -presumed to be -has to beprovedthat contractsitwasintended to be legallybound

  9. Different forms of a contract CONTRACT EXPRESS IMPLIED 3 elements are implied writtenoral 3 essentialelements are present

  10. Whatformdoes a contract take? • Fillinthegaps. Twowords are toomuch. signedrightsoralgoodsproperty In general, contractsmaybeeither _______ orwritten. Certaintypesofcontracts, however, inorder to beenforeable, must bewrittenand ________. Theseincludecontractsinvolvingthe sale and transfer of _________. Readthetext, p. 156 (paragraph 2) andfind more examples for writtencontracts.

  11. Twoexamplesofexpresscontracts1. parking fees - theSouthofEnglandthetownof ARUNDEL

  12. EXPRESS versus IMPLIED CONTRACT An express contract is one in which the terms are expressed verbally, either orally or in writing. An implied contract can either be implied in fact or implied in law . A contract which is implied in fact is one in which the circumstances imply that parties have reached an agreement even though they have not done so expressly. (E.g. by going to a doctor a patient agrees that he will pay a fair price for the service. If he refuses to pay after being examined, he has breached a contract implied in fact.)

  13. STRUCTURE OF THE CONTRACT • Readthetext, p. 157. andnamethe MAIN CLAUSE TYPES includedin most contracts + thekeyinformationrelated to them: • Parties – names, addresses, identificationnumbers, etc. • Charges – price for thegood or services / date ofpayment …..

  14. DEFECTIVE CONTRACT, p. 157 - 158 Completethepresentationofthethreedifferentwaysinwhichcontractscanbe set aside: • VOID(a contractnevercameintoexistance, lacks _______ _____________ and is therfore ____________) • VOIDABLE (initiallyvalidcontractcanbeannulledbythe court, on thegroundsof _______, ______, __________, ________, ___________) 3. UNENFORCEABLE (lacks some particulartype ofevidence, a tehnicaldefect, e.g. _________________)

  15. Voidable contracts MISTAKE UNDUE INFLUENCE DURESS MISREPRESENTATION INCAPACITY

  16. Theendof a Contract, p. 158 • Studythewaysinwhichthetermsof a contractcanbedischarged. CompletetheEnglishterms: a) Ispunjenje ugovora (ugovoren posao je realiziran) = _________________________ b) Prestanak ugovora zbog povrede odredbi ugovora = _________________________ c) Obostrano odustajanje od ugovora = _________________________ d) Prestanak ugovora zbog nemogućnosti ispunjenja obveza = _________________________

  17. Remedies for breachofcontract The primary remedy is to CLAIM DAMAGES If not adequate SPECIFIC RELIEF ORDER OF SPECIFIC PERFORMANCES AWARD OF MONEY DAMAGES INJUNCTION CONTRACT RESCISSION Explain each of the remedies. CONTRACT MODIFICATION

  18. to form/enforce/ breach/enter into/set aside a contract a breachofcontract consideration offerandacceptance offerorandofferee animplied/expressed/ legallybindingcontract valid; invalid a void/voidable/ unenforceablecontract mistake misrepresentation duress undue influence incapacity anorderofspecificperformances Some essentialexpressions

  19. Vocabulary practice I – Word families Fill in the blanks by using the appropriate words from the text.

  20. Vocabulary practice II - Collocations Choose one of the listed nouns for each of the following verbs. Use the text. a binding offer; requirements; legal capacity; a contract; a contract; requirements

  21. Translation practice Translate the following sentences from the Croatian ZOO (Zakon o obveznim odnosima) • Art. 253. Punuda Ponuda je prijedlog za sklapanje ugovora učinjen određenoj osobi koji sadrži sve bitne sastojke ugovora. • Art. 262. Prihvat ponude Punuda je prihvaćena kad ponuditelj primi izjavu ponuđenika da prihvaća ponudu. • Art 269. Činidba Objekt ugovorne obveze je činidba koja se može sastojati u davanju, činjenju, propuštanju ili trpljenju.

More Related