Unit 2 Contract: Intention and Consideration
Unit 3 Contract: Construction of the Terms of a Contract
Unit 4 Contract: Validity/Enforceability and Discharge
Unit 5 Principle and Agent
UNIT 1 CONTRACT: CLASSIFICATION AND
FORMATION
CONTENTS
1.0 Introduction
2.0 Objectives
3.0 Main Content
3.1 Overview of Contract
3.1.1 Definition of Contract
3.2 Background to the Development of the Law of Contract
3.2.1 The Notion of Agreement
3.2.2 Laissez Faire
3.3 Classification of Contract
3.3.1 Formal Contracts
3.3.2 Simple Contracts
3.4 Formation of Simple Contracts
3.5 Agreement
3.5.1 Offer
3.5.2 Possible Responses to the Offer
3.5.3 Termination of Offer
3.5.43.5.5 Revocation of Offer by OfferorRejection of Offer by Offeree
3.5.6 Lapse
3.5.7 Condition
3.6 Acceptance
3.7 Approach to Problem on Agreement
3.7.1 Point-Form Approach
4.0 Conclusion
5.0 Summary
6.0 Tutor-Marked Assignment
7.0 References/Further Readings
1.0 INTRODUCTION
Contracts are entered into by each of us on a daily basis. Some of the
contracts are longstanding, for example a contract of employment; some
are of very short duration such as the purchase of a piece of fruit or a
meal but they all have the same features of a contract.