exam-summary-jazyk-i4-anglictina-pro-pravniky
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not every agreement is a contract
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it must be legally binding
paries must intend to be legally bound by the contract
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unilateral contract = contract whereby only one party makes a promise
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bilateral contract = contract whereby two paries exchange promises
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elements:
ofer and acceptance
must be done in a clear and unequivocal manner
consideraion
what is exchanged between the paries
terms must be exact and certain
condiions = vitally important for the validity of the contract, thus
their breach may result in terminaing the contract
warranies = of lesser importance, breaching these enitle the
aggrieved party to seeking damages
express terms = those expressed in words, either orally or in wriing
implied terms = opposite of the above
subject-mater must be legal
the paries must have legal capacity
i.e. paries must be legally qualiied to enter into a contractual
relaionship
minors can make contracts with adults
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voidable contract
= a contract which may be later raiied or
avoided (disairmed) by an adult
oral x writen contracts
certain contracts must be writen and signed (e.g. sale and transfer
of property)
executory x executed (not being performed yet x already fulilled)
reasons for declaring a contract null and void (invalid)
misrepresentaion = staing an untrue fact and thus misleading
someone
duress
mistake
fraud
illegal subject-mater
if there is a breach, the injured party may sue for:
damages
rescission
injuncion
speciic performance
Remedies and discharge of contract
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terminaion = discharge
= the paries are released from their respecive obligaions
fulilment of the contract
breach of contract
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followed by a remedy (see above)
waiver
= both paries wish and agree on the terminaion of the contract,