HD exam notes+all case notes LAW5002 Principles of contract law A

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INTRODUCTION ...................................................................................................................8 What is a Contract? ......................................................................................................................... 8 ELEMENTS OF A 8 9 Types of 9 Bilateral .................................................................................................................................................... 9 9 Invitation to Treat .......................................................................................................................... 13 AUCTIONS ................................................................................................................................................. 14 14 Termination of 16 WITHDRAWAL OR 16 LAPSE & 17 FAILURE OF CONDITION & CHANGED 18 REJECTION ................................................................................................................................................ 19 Conduct Constituting Acceptance ................................................................................................ 22 Consciousness of the 23 Communication of 23 GENERAL RULE ....................................................................................................................................... 23 POSTAL ACCEPTANCE 25 ELECTRONIC 25 Acceptance Inferred from Silence and Other 27 Correspondence between Offer and 29 Agreement without Offer or Acceptance ..................................................................................... 30 What is Consideration?.................................................................................................................. 34 Elements of 34 BENEFIT/DETRIMENT REQUIREMENT ............................................................................................... 34 BARGAIN 34 Sufficiency vs Adequacy of 36 NON-SUFFICIENT CONSIDERATION ................................................................................................... 37 Past 37 Existing Legal 38 Illusory Consideration ............................................................................................................................ 42 INTENTION ..........................................................................................................................46 The Objective 47 Presumptions .................................................................................................................................. 49 Commercial Transactions // Letters of Comfort ......................................................................... 49 Types of 50 DOMESTIC AND SOCIAL 51 CONTRACT LAW A TRIMESTER 3 // 2019 3 GOVERNMENT 52 PRELIMINARY AGREEMENTS .............................................................................................................. 53 CERTAINTY .........................................................................................................................56 Certainty, Completeness and Illusory 56 Aspects of Contractual Certainty ................................................................................................. 56 56 Essential 57 59 Implying Objective 59 Agreements to Negotiate ......................................................................................................................... 60 ILLUSORY PROMISES ............................................................................................................................. 61 Consequences of Uncertainty ........................................................................................................ 63 Formalities 66 Statutes of Frauds & Australian 66 Types of 68 68 SALE OR DISPOSTION OF AN INTEREST IN 69 Required Formalities ..................................................................................................................... 69 69 69 70 70 Electronic 71 Consequences of 72 72 Part 72 74 ESTOPPEL .................................................................................................................................................. 74 What is Capacity? .......................................................................................................................... 78 WHO LACKS CAPACITY? ....................................................................................................................... 78 Minors in Victoria .......................................................................................................................... 78 ABSOLUTELY BINDING ......................................................................................................................... 79 REPUDIATED ............................................................................................................................................ 79 79 VOIDED ...................................................................................................................................................... 79 Adults – Mental Incapacity & Intoxication ................................................................................. 80 80 ESTOPPEL ............................................................................................................................84 What is “Estoppel”?....................................................................................................................... 84 TERMINOLOGY ........................................................................................................................................ 84 Types of 84 COMMON LAW 85 EQUITABLE 85 Estoppel in 85 Elements of 86 CONTRACT LAW A TRIMESTER 3 // 2019 4 87 87 DETRIMENTAL RELIANCE .................................................................................................................... 89 REASONABLENESS ................................................................................................................................. 90 UNCONSCIONABILITY ........................................................................................................................... 90 91 The Effects of Estoppel .................................................................................................................. 91 COMMON LAW 91 EQUITABLE 91 Estoppel as a Cause of Action ....................................................................................................... 92 PRIVITY ................................................................................................................................96 GENERAL PRINCIPLES ........................................................................................................................... 96 GENERAL 97 Circumventing Privity ................................................................................................................... 97 ENFORCEMENT BY A PARTY ............................................................................................................... 98 98 Barwick CJ Agency 98 ASSIGNMENT AND 99 SPECIAL EXCEPTION; TRUST; UNJUST ENRICHMENT; 99 Trident v McNiece – Special Exception (insurance)............................................................................... 99 Gate Gourmet v Gate Gourmet – Special Exception (letters of comfort)............................................. 100 Trident v McNiece – Unjust 100 Trident v McNiece – Trust .................................................................................................................... 100 Trident v McNiece – 100 ESTOPPEL ................................................................................................................................................ 100 101 MISLEADING OR DECEPTIVE 101 101 EXPRESS 104 Identifying terms of a 105 IDENTIFYING EXPERSS 105 Incorporation by 106 107 Non-Contractual Documents ................................................................................................................ 107 Vitiating 107 Incorporation of Terms by Notice .............................................................................................. 107 108 KNOWLEGDE & REASONABLE 109 Regularly 109 Easily Accessible 110 Unusual 110 Incorporation by a Course of 111 Statements made during 112 PAROLE EVIDENCE 113 Is a contract wholly in writing? ............................................................................................................ 113 Exceptions to the Parole Evidence Rule ............................................................................................... 114 PROMISSORY 115 Construing the 118 EXTRINSIC 118 Parole Evidence 118 SURROUNDING 119 CONTRACT LAW A TRIMESTER 3 // 2019 5 Construction of 120 Exclusion 122 123 General 123 Four Corners Rule ................................................................................................................................ 123 124 IMPLIED TERMS ..............................................................................................................128 Courts Imply Terms when…....................................................................................................... 128 TERMS IMPLIED BY FACT ................................................................................................................... 128 Formal 129 Informal 131 Good 131 SHOULD GOOD FAITH BE RECOGNISED?........................................................................................ 131 ELEMENTS OF GOOD FAITH ............................................................................................................... 133 GOOD FAITH & OTHER JURISDICTIONS .......................................................................................... 135 CONSUMER What is a Consumer Contract?................................................................................................... 140 TYPES OF CONSUMER CONTRACTS ................................................................................................. 140 Evolution of Consumer Protection Laws ................................................................................... 140 LEGISLATIVE REFORM ........................................................................................................................ 140 Australian Consumer Law .......................................................................................................... 141 Unfair 141 REMEDIES FOR UNFAIR CONTRACT 144 Consumer Guarantees ................................................................................................................. 145 REMEDIES FOR CONSUMER 147