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MLC101 Business Law

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Deakin MLC101 Business Law Cover from Topic 2 - Topic 10 (Topic 1 was not examinable)

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29 Pages Complete Study Notes > 2 Years old
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5 Ex Credits


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Topics this document covers:
Contract law Law Private law Common law Contract Offer and acceptance Estoppel in English law Option contract Consideration Estoppel Misrepresentation Posting rule
This is a Complete Set of Study Notes

Complete Study Notes typically cover at least half a semester’s content or several topics in greater depth. They are typically greater than 20 pages in length and go into more detail when covering topics.

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Topics this document covers:
Contract law Law Private law Common law Contract Offer and acceptance Estoppel in English law Option contract Consideration Estoppel Misrepresentation Posting rule
Sample Text:
The essential elements of a contract are: ➢ An offer by one party and its acceptance by the other ➢ Intention of the parties to create legal relations ➢ Valuable consideration (unless the promise is made by deed) ➢ Legal capacity of the parties to act ➢ Genuine consent by the parties ➢ Legality of the objects of the agreement. A binding agreement requires: ✓ Two parties at least ✓ An offer ✓ An acceptance of that offer An Offer – is a proposal by one party to enter into a legally binding contract with another o Written o Oral o Implied by conduct Offers distinguished from invitations to treat or statements supplying information An invitation to treat/deal is not an offer, only an indication of willingness to deal or trade, an initial a...
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