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Definition
| A contract in which only one party undertakes any obligation |
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Definition
| A key term in a contract. If breached, the injured party can repudiate the contract |
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| An act or promise of forbearance which 'buys' the promise of the other party. It renders a promise enforceable in law |
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Definition
| A less important term in a contract. If breached, the injured party may sue for damages but is not entitled to repudiate the contract |
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Definition
| A contract in which each party undertakes an obligation |
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Definition
| A promise or undertaking which becomes partof the contract itself |
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Definition
| Rejection of the continued existance of a contract |
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Definition
| A duty to keep one's losses to a minimum |
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Term
| Actionable misrepresentation |
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Definition
| A statement of material fact made prior to the contract by one party to the contract to the other which is false or misleading and which induced the other party to enter into the contract |
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Definition
| The rescinding,annulling or withdrawal of an offer |
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Term
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Definition
| Refers to a situation where someone is held responsible for the actions or omissions of another person. In a workplace context, an employer can be liable for the acts or omissions of its employees, provided it can be shown that they took place in the course of their employment. |
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Definition
| The party to whom an offer is addressed |
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Term
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Definition
| The principle that a valid acceptance must correspond exactly with the terms of the offer is sometimes referred to as the 'mirror...' |
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Term
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Definition
| A statement which induces a party to enter into a contract (but does not form part of it) |
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Term
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Definition
| A civil tort that occurs when a person breaches their duty of care owed to another and as a result, that person suffers an injury or a loss |
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Term
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Definition
| A contract which is treated as though it never existed so that it may be enforced by neither party |
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Term
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Definition
| A financial remedy that aims to compensate the injured party for the consequences of the breach of contract |
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Term
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Definition
| Term where the court looks at the effects of the breach on the injured party to determine whether the breach itself was of a condition or a warranty |
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Term
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Definition
| The situation that arises where one or both parties attempt to rely on their standard terms is often referred to as the 'the battle of...' |
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Term
| Sale of Goods Act 1979, Section 57(2) |
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Definition
| A sale by auction is complete when the auctioneer announces its completion by the fall of the hammer, or in other customary manner; and until the announcement is made, any bidder may retract their bid. |
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Term
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Definition
| Committed when a party without lawful excuse fails or refuses to perform what is due from them under the contract, or performs defectively or incapacitates themselves from performing. |
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Term
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Definition
| 'As much as deserved'. If a price has not been specified in a contract but work has been done or goods supplied under it, a quantum meruit action allows a claim for a reasonable price for the performance rendered. |
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Term
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Definition
| Final and unqualified expression of assent to the terms of an offer. |
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Term
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Definition
| An expression of willingness to contract on specified terms, made with the intention that it is to become binding as soon as it is accepted by the person to whom it is addressed |
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Term
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Definition
| An equitable remedy that compels the party in breach to perform their part of the contract |
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Term
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Definition
| An offer where one party promises to pay the other a sum of money(or to do some other act)if the other will do something(or forbear from doing so)without making any promise to that effect |
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Term
| Sale of Goods Act 1979, S.6 |
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Definition
| Where there is a contract for the sale of specific goods, and the goods without the knowledge of the seller have perished at the time when the contract is made, the contract is void. |
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Term
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Definition
| A contract in which the injured party can choose whether or not to be bound by it |
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Term
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Definition
| A preliminary statement expressing a willingness to receive offers |
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Term
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Definition
| A boastful statement made in advertising |
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Term
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Definition
| The party who makes an offer |
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Term
| The Supply of Goods and Services Act 1982 S. 13 |
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Definition
| When work is carried out by a trader (In the course of business)you should expect it to be done with reasonable care and skill, in a reasonable time, and for a reasonable charge. |
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Term
| Supply of Goods and Services Act (1982) |
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Definition
| Where goods are supplied in addition to services, eg the installing of a new boiler, or the fitting of new engine parts in a car, the goods are covered by which statute? |
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Term
| Section 12 of the Supply of Goods and Services Act 1982 |
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Definition
| Defines contracts for the supply of services. It excludes contracts of apprenticeships, but includes any agreement for the supply of services irrespective of whether goods are also supplied. There is no requirement for money consideration.Which means both batter trade or money consideration will suffice. |
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Term
| The Sale of Goods Act 1979, as ammended, provides for consummers' rights against retailers and not manufacturers |
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Definition
The law says the goods must:-
-fit any description given
-be of satisfactory quality
-be fit for their purpose
-match any sample you were shown
-come with adequate installation or self-assembly instructions (if needed) |
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