Podcast
Questions and Answers
What is required for the conclusion of a contract according to the Swiss Code of Obligations?
What is required for the conclusion of a contract according to the Swiss Code of Obligations?
What is meant by 'expression of will' in contract law?
What is meant by 'expression of will' in contract law?
How does the validity of an offer typically change when no time limit is set?
How does the validity of an offer typically change when no time limit is set?
What happens to a limited offer once the time limit has been established?
What happens to a limited offer once the time limit has been established?
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What is a 'reservation of withdrawal' in the context of making an offer?
What is a 'reservation of withdrawal' in the context of making an offer?
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How does Anglo-American contract law differ from Swiss law regarding contract formation?
How does Anglo-American contract law differ from Swiss law regarding contract formation?
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What role does 'consideration' play in contract law?
What role does 'consideration' play in contract law?
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What could be a consequence of not setting a time limit on an offer?
What could be a consequence of not setting a time limit on an offer?
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What defines a multilateral contract?
What defines a multilateral contract?
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In which scenario is a non-binding offer applicable?
In which scenario is a non-binding offer applicable?
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Study Notes
Contract Formation Under the Swiss Code of Obligations (CO)
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Mutual Consent: A contract requires the mutual consent of at least two parties (express or implied). Multilateral agreements involving three or more parties are also possible.
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Expression of Will: Parties express their intent to enter into rights and obligations, which must be consistent (all agreed upon). "Nothing is agreed until everything is agreed."
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Offer and Acceptance: A contract forms when one party offers something (goods or services) and the other party accepts.
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Offer Validity: Offer validity duration depends on the complexity of the contract; more complex contracts need more time for review and response. Setting a time limit on offers is advisable to avoid ambiguity.
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Revocability: A limited offer cannot be revoked until the deadline passes, unless the offeror reserves the right to do so (e.g. "This offer is valid until [date]. We expressly reserve the right to revoke it").
Anglo-American Contract Law
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Consideration: Anglo-American law requires "consideration" (something of value exchanged) for a contract to be enforceable.
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Consideration Example: In a sales contract, the consideration is the exchange of goods for payment.
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Consideration Practicality: The author finds "consideration" to be of limited practical importance.
Contract Terminology
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Synonyms: "Contract" and "agreement" are interchangeable terms to describe a contract.
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Term Use: The author prefers "contract" for formal, comprehensive agreements and "agreement" for simpler ones.
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Intergovernmental Agreements: Distinct legal terminology like "treaty" or "convention" is used for agreements between governments/countries, never used in private law.
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Description
Test your knowledge on the principles of contract formation under the Swiss Code of Obligations. This quiz covers essential concepts such as mutual consent, offer and acceptance, and the validity of offers. Perfect for law students and professionals alike.
