1
Q
What is a contract?
A
- A legally binding agreement by one party to fulfil an obligation to another party in return for consideration.
- Comprises four elements:
Offer
Acceptance
Consideration
Intent
2
Q
Please define ‘express terms’?
A
- Terms of an agreement which are expressly agreed between parties
3
Q
Please define ‘implied terms’?
A
- A contract term that has not been expressly agreed but has been implied into the contract by common law or by statute.
4
Q
What is tort?
A
- Part if the civil law, a tort is a civil wrong.
- A claim in tort is concerned with loss or harm.
5
Q
How do statutory provisions and contract provisions differ?
A
- Statuary provisions are set out by law and must be complied with regardless.
- Contract provisions apply only to a specific contract/project.
6
Q
What is you opinion or oral contracts?
A
- Although legally binding, proving specific terms and conditions can prove difficult.
- A written contract is therefore preferred.
7
Q
What is a breach of contract?
A
- Occurs when a party to a contract fails to comply with their obligations under a contract.
8
Q
What is a breach of contract?
A
- Occurs when a party to a contract fails to comply with their obligations under a contract.
