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law of contract

business leaving cert.

QuestionAnswer
what is a contract a legally binding agreement
list 4 elements of a contract offer, acceptance, consideration. intention, consent, capacity, legality of form, legality of purpose
what does consideration mean something of value that passes between the people entering the contract
who does not have capacity to enter into a contract people who are drunk, insane, bankrupt or director acting ultra vires
explain ultra vires a director acting outside his authority
offer and acceptance equal agreement
how can a contract be terminated by breach, agreement, performance, frustration
what are the remedies for breach of contract sue for damages, rescind the contract, specific performance
what does rescind the contract mean to cancel the contract
Created by: kalmkalm
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