What are the main elements to form a legally binding contract? - Offer, acceptance, consideration, capacity, intent to create legal relations, What is a contract?  - An agreement between two people (or parties, which include contracts both between individuals and organisations) that is intended to have the force of law., The principle that individuals and entities have the autonomy to create agreements on any terms they choose is known as: - Freedom of contract., Specifying which jurisdiction will govern a contract refers to: - choice of law / choice of the legal system / choice of jurisdiction, Unenforceable contracts can be: - Void, illegal and voidable. , Identify the formats in which a valid contract may exist: - Oral, written, conduct, any combination of these. , Which are recognised ways to discharge a contract? - By performance, by breach, by frustration, by termination., Identify the remedies available for breach of contract: - Damages, termination, specific performance, injunction, Methods of resolving disputes outside of court, commonly referred to as Alternative Dispute Resolution, include: - Mediation and arbitration, what is the main difference between mediation and arbitration? - Mediation involves a neutral mediator helping parties reach a voluntary agreement, which is not legally binding unless both agree to enforce it, while arbitration is based on a contractual clause and results in a binding decision enforceable by law.,

Contract Law

Print
Embed

Leaderboard

Visual style

Options

Switch template

Continue editing: ?