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4 Pages Topic Notes Year Uploaded: 2024

Lecture 1 (W1): Assignment – mid-term – contract (formation of contract) Final Exam – not as much on contract CONTRACT: Court record Specialty (deed) - a document that is signed, sealed and delivered - doesn’t require valuable considerations Informal contract – oral or writing Implied contracts – implied by law Option contract – where party is contractually bounded themselves to keep the offer open till the time and are not allowed to withdraw the offer A contract requires: Legal capacity Mental capacity – understanding of the contract Intention to create legal relations (mutual promises cannot be considered a legal intention) Agreement Valuable considerations Sufficient certainty Offer: Analysis is common (one party made an offer and the other accepted (acceptance)) An offer is the manifestation of willingness to enter into a bargain, so made as to justify another person in understanding that his assent to that bargain is invited and will conclude it

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