1-3 of 3 Results  for:

  • Keyword: contractual agreement x
  • Business and Government x
Clear all

Chapter

Cover Business Law

8. Terms of a Contract  

This chapter focuses on the terms or details of a contractual agreement, and considers the implications of what the parties intend to include in the agreement, what they did not mean to be included in the contract, and what significance different terms may have in the contract. It distinguishes between the terms of a contract and representations, and considers whether, when a term has been identified as such, it is a ‘condition’ or a ‘warranty’. The chapter then studies how terms are implied into the contract and how this affects terms that have been expressed. It concludes by examining how parties may seek to exclude or limit a legal responsibility through the incorporation of an exclusion clause.

Chapter

Cover Introduction to Business Law

5. Intention, Capacity, Consideration, and Privity  

This chapter examines issues relating to contract formation. It discusses the elements of an intention to create legal relations and the presumptions relating to commercial or business agreements and domestic agreements. It considers the law relating to capacity to contract, looking at the enforceability of different types of contracts made with minors. It considers the validity of contracts made with corporations and persons who may lack capacity through mental illness or intoxication. It also explains the importance of consideration in a contract, what constitutes consideration, whether consideration provided is sufficient, and who must provide the consideration. It discusses the law relating to part-payment of debts and promissory estoppel. Finally, the chapter considers the doctrine of privity of contract, and the exceptions to the doctrine, including the Contract (Rights of Third Parties) Act 1999

Chapter

Cover Card & James' Business Law

7. The terms of the contract  

This chapter focuses on the actual content or terms of a contract. It discusses the two main classifications of contractual terms, namely express and implied terms, and considers the courts’ approach in the determining when terms should be implied into a contract. It explains that express terms are those specifically agreed upon by the parties while implied terms are those that may be implied by the court, statute, or custom. This chapter also explains how some implied terms can be excluded via an express provision and discusses the parol evidence rule, collateral contract, and entire agreement clause. The chapter concludes by looking at the principles established by the courts when interpreting contractual provisions.