Contract Law
Agreement
Offer + Acceptance
OFFER
accepted by offeree
rejected by offeree
revoked by offeror
unless by deposit
Invitation to treat
Auction
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Price tab
Intention
intend the agreement is legally enforceable
2 presumptions
Social/Domestic context
Not intended
Unless serious financial consequences
Could be rebutted
Business context
Consideration
St legal value exchanged
EX: payment, provision, serious obligation...
must be sufficient
NOT past consideration
Ex: promises happened before contract made
Not prior legal obligation.
Ex: a part of job
Capacity
Lack of intellectual capacity
Minor
Contract of necessities
eneficial contracts of service
Illigality
unenforceable
Crime/Tort
may penalise parties
may invalid contract
Unconscionability
Unfairly take advantage from
the weakness or disadvantage