Contract

Question 1

Does an offeree need to have knowledge of an offer?

Answer 1

Yes

Question 2

How does an offeree acquire knowledge of an offer?

Answer 2

The offer must be communicated to them

Question 3

What is a unilateral contract?

Answer 3

A contract which arises when an offeror promises to do something if the offeree does something in return and the offeree actually does this thing

Question 4

What is the effect of termination of an unaccepted offer?

Answer 4

It cannot be accepted

Question 5

How is an offer revoked directly?

Answer 5

By directly communicating the revocation to the offeree before acceptance

Question 6

How is an offer revoked indirectly?

Answer 6

If the offeree receives:

1. Correct information
2. From a reliable source
3. Of acts of the offeror which would indicate to a reasonable person that the offeror no longer wishes to make the offer

Question 7

Why is a unilateral offer irrevocable once performance has begun?

Answer 7

Because it would be unfair on the offeree if the offeror could revoke the offer after the offeree has already begun performance

Question 8

Even though a unilateral offer is irrevocable once performance has begun, when is the contract formed and what is the effect of this for the offeree?

Answer 8

The contract is formed when performance is complete.

This allows the offeree to withdraw from performance at any time, even though the offeror cannot revoke after they begin.

Question 9

Even though beginning performance under a unilateral and bilateral offer both make the offer irrevocable, what are the differing reasons for this?

Answer 9

Unilateral: beginning performance would make it unfair for offeror to revoke, even though contract is not formed until completion
Bilateral: beginning performance accepts the offer and a contract is formed

Question 10

How may an offeree terminate an offer?

Answer 10

By rejection, either expressly, or impliedly e.g. through a counteroffer

Question 11

What topics does the full Contract Law deck contain, and how do I access it?

Answer 11

The full deck contains over 380 flashcards dealing with the SRA syllabus:

• Formation of Contracts;
• Offer and Acceptance;
• Intention to Create Legal Relations and Capacity;
• Consideration;
• Privity of Contract;
• Determining the Terms of the Contract;
• Exclusion Clauses;
• Vitiating Factors;
• Misrepresentation,
• Discharge and Variation of a Contract;
• Remedies.

Visit www.cleverprep.co.uk to purchase full access.