TABLE1710 Full Study Notes for Final
Week 3: Contract Law
Def: An agreement concerning promises made between two or more par2es with the inten2on of crea2ng certain legal rights and obliga2ons upon the par2es that agreement which shall be enforceable in a court of law
“A legally enforceable agreement that is legally binding”
• An agreement is NOT necessarily legally binding
• What makes an agreement a contract is that it becomes legally enforceable
• The most important legisla2on affec2ng contract is the Australian Consumer Law (ACL) s18 which
prohibits misleading or decep2ve conduct
Sources of Contract Law in Australia
• Judge-made law
• Legisla2on/Acts Types of contracts
• Formal contract deeds
o Used in par2cular circumstances where the par2es would otherwise have no contractual
obliga2ons due to absence of considera2on o Contracts under deed or seal
• Simple contracts: oral or wriNen
• Simple contracts: bilateral or unilateral
o Unilateral- only one party under any obliga2on
o Bilateral- both par2es have obliga2ons
#ContractLaw
#Law
#CommonLaw
#PrivateLaw
#Estoppel
#Consideration
#Contract
#Promise
#CentralLondonPropertyTrustLtdVHighTreesHouseLtd
#Unconscionability
#ConsiderationInEnglishLaw
#ThirdPartyBeneficiary
21 Pages
Complete Study Notes
Year: Pre-2023
#ContractLaw
#Law
#CommonLaw
#PrivateLaw
#Estoppel
#Consideration
#Contract
#Promise
#CentralLondonPropertyTrustLtdVHighTreesHouseLtd
#Unconscionability
#ConsiderationInEnglishLaw
#ThirdPartyBeneficiary
21 Pages
Complete Study Notes
Year: Pre-2023This document is 25 Exchange Credits
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