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BSCI Test 2

Law U1-2

QuestionAnswer
How is a legal contract created Offer, Acceptance & consensus
Mutual agreement Consensus; both parties agrees on same terms
How legal obligations arise Contracts (agreements), delicts (wrongful acts) , law
Offer Declaration of intent made by prospective party to a contract
Counter offer Offeree changes or adds terms
Offer rejection Refusal; No contract exists
Offer termination Offer ends due to time, death, revocation
Acceptance Unqualified declaration of offeree approving offerors offer without reservation
Consensus When an offer is accepted, consensus is reached
How does obligation become enforcable When a contract is entered into it becomes legally binding.
Rights and duties of parties under contract Rights: what a party claims fom the contract Duties: what a party provies under contract
Factors that influence consensus Mistakes, errors, duress, undue influence, misrepesentation
Mistakes Due to misunderstanding, no agreement is reached Unilateral: one party is mistaken relating to matrial aspects Mutual: both parties misunderstand, no true agreement Common: both parties make the same incorrect assumption relating to essential facts
Errors CINPS Error in Corpore: regarding contracts subject matter or object of performance Error in Negotio: regarding nature of contract Error in Persona: regarding identity Error in substantia: regading attribute Error iuis: mistake of law
Suspensive conditions Condition precedent; Right or duty to performance is suspended until future event/date Purpose: Protect parties until requirements are met Outcome: Failed condition = no liability
Resolutive conditions Condition subsequent; Continued existence is dependent on future event Purpose: Provide immediate performance with exit mechanism is condition is triggered Outcome: Failed condition = Contract terminates
Time terms/clause Contractual term which makes existence of obligation dependent on an event or a time certain to occur in the future
Forms of contract breaches Mora debitoris Mora creditoris Repudiation Positive Malperformance
Mora debitoris Debtor delays performance ito contract
Mora creditoris Creditor delays performace ito contract
Repudiation Behaviour such that a reasonable person will believe that there was no intent to fulfill contract; objective test
Positive malperformance there is performance, but not what was agreed upon
Function of the law Set of behavioural rules to regulate society in a peaceful manner
Objective vs subjective law Objective: rules applicable to the community Subjective: rights a person has to do something
Objective law divisions National: Private (Constitutional, criminal) & Public (persons, succession, obligations) International: International & Private international
Subjective law divisions Real rights Immaterial ights (IP rights) Personality rights Personal rights
Offeror vs Offeree Offeror shows intent to enter into contract; Offeree shows intent to accept
Misrepresentation Statement that amounts to assertations that are false or erroneous Fraudulent (intentional) or Negligent (careless)
Restitution Each party returns to the other the performance received
Damages Can be claimed on mispresentation
Actio quanti minoris Due to misrep - Buyer wishes to continue; entitled to price reduction
Actio Redhibitoria Due to misrep - Buyer does not wish to continue; claims full restitution
Duress Offeree accepts contract they normally wouldn't because of imminent threat
Undue influence Obtained influence in unconscionable manner over other party, would not have reached consensus of own free will Possible delictual claim for damages
Void vs Voidable contracts Void: No true consensus Voidable: Subject to cancellation
Contractual capacity definition Mental capacity to formulate, understand consequences and act according to will
Without contractual capacity Mentally ill or person under age of 7
Limited contractual capacity Minor(7-18), women under marital power or persons married in community of propety; only conclude contract with assistance /consent of another person EXCEPT if contract has no obligation
Resititutio in integrum Restoration of original condition; When contract was prejudicial(detrimental) to minor
Physical possibility of performance Pointless ageement if performance is physically impossible Objective impossibility: From the beginning (null & void) Subjective impossibility: Event rendered it possible after signing (breach of contract)
Rule of clarity Performance must be explicitly clear from start otherwise the contact is null & void
Legal possibility of performance Cannot be executed if it coilates legal frameworks Statutory Enactment: contrary to legislative provisions Common Law: contrary to good morals & public interest
Formalities Requirements that contract must comply with depending on type on contract
Terms Stipulations in contract that parties agree to, which binds them to perform Essentialia Naturalia Incidentalia
Essentialia Distinctive terms to identify & classify a contract essence of contract
Naturalia Auto included terms, parties can exlude naturalia by express agreement (in writing)
Incidentalia Additional terms ageed upon
Clauses vs conditions Clauses: certain future events (suspensive & resolutive) Conditions: dependant on occurance or non occurance (suspensive & resolutive)
Cession Transfer of personal right or claim
Remedies - for fulfillment of contract (penalty clause in contract) - for cancellation of contact (lex commissoria) - damages
Created by: CARA.FAURIE
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