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Introduction Notes

GDL Law Notes > GDL Contract Law Notes

This is an extract of our Introduction document, which we sell as part of our GDL Contract Law Notes collection written by the top tier of Cambridge/Bpp/College Of Law students.

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Contract: Introduction

- Historical development of contract law. originally: only debt of specific sum enforceable in courts. by 1602: Slade's Case - assumpsit ('he promised') a general form of claim. by end of 18C: general legal framework
? 19C: development - growth in response to social + commercial demands. post-industrial rev: most rapid growth - laissez-faire approach. e.g. Printing & Numerical Registering Co v Sampson [1874-5]: 'contracts, when entered into freely and voluntarily, shall be held sacred and shall be enforced by the Courts of Justice'. today: principle of freedom of contract still, but with more paternalism/interventionism - courts concerned about unequal bargaining power.

- Simple contracts: vast majority (vs. speciality contracts). agreement: reached or deemed to be reached by parties. rights + obligations: arise from agreement. (some contractual relationships - specif ic rules: e.g. employment + consumer contracts).

- Essential elements: 'C.I.A.'.

1. Agreement: consists of clear offer (by offeror) + acceptance (by offeree).

2. Intention to create legal relations + capacity (i.e. must be capable of making a contract).

3. Consideration: anything of value promised to another ? mutual exchange of consideration needed for binding contract.

- Manner of agreement: any possible as long as parties in communication. writing word of mouth inference: from conduct of parties + circumstances of case or: any combination of above.

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