Podcast
Questions and Answers
What is necessary for parties to establish a contract?
What is necessary for parties to establish a contract?
- Exchange tangible assets
- Oral agreement only
- Express goal-sharing intentions
- Manifest an intention to create legal relations (correct)
Which type of agreement is characterized by arms' length parties?
Which type of agreement is characterized by arms' length parties?
- Non-binding understandings
- Informal associations
- Personal agreements
- Commercial agreements (correct)
Which of the following indicates a serious or important subject in an agreement?
Which of the following indicates a serious or important subject in an agreement?
- Use of casual language
- Absence of commercial interest
- Informal discussions
- Detailed, formal language (correct)
What type of language is characterized as promissory in nature?
What type of language is characterized as promissory in nature?
What does a lack of commercial interest generally suggest about an agreement?
What does a lack of commercial interest generally suggest about an agreement?
When may a party's previous refusal to enter a binding agreement be significant?
When may a party's previous refusal to enter a binding agreement be significant?
Which of the following is not typically a type of legal agreement?
Which of the following is not typically a type of legal agreement?
What is generally presumed about the relationship in a commercial agreement?
What is generally presumed about the relationship in a commercial agreement?
What characterizes a unilateral offer?
What characterizes a unilateral offer?
What is necessary for acceptance of an offer to be considered valid?
What is necessary for acceptance of an offer to be considered valid?
When can an offer be revoked?
When can an offer be revoked?
In the context of electronic communication, what form is NOT covered under acceptance?
In the context of electronic communication, what form is NOT covered under acceptance?
How is the termination of an offer effective?
How is the termination of an offer effective?
What determines acceptance under an objective test standard?
What determines acceptance under an objective test standard?
When are offers made to the public at large able to be revoked?
When are offers made to the public at large able to be revoked?
What occurs if an acceptance is not sent to a designated address?
What occurs if an acceptance is not sent to a designated address?
What type of contract allows a promisee to sue a promisor to enforce a contractual promise?
What type of contract allows a promisee to sue a promisor to enforce a contractual promise?
What may limit the remedies available for enforcing a promise made to a third party?
What may limit the remedies available for enforcing a promise made to a third party?
Which of the following provides nominal damages only under specific circumstances?
Which of the following provides nominal damages only under specific circumstances?
Which type of contract involves a promise to answer for the liability of another?
Which type of contract involves a promise to answer for the liability of another?
Under what circumstances may specific performance as a remedy be limited?
Under what circumstances may specific performance as a remedy be limited?
What must be considered to determine if a preliminary agreement is intended to create legal relations?
What must be considered to determine if a preliminary agreement is intended to create legal relations?
Which category identifies that parties have finalized terms and intend for them to be binding?
Which category identifies that parties have finalized terms and intend for them to be binding?
In which situation are the parties bound to create and execute a formal document?
In which situation are the parties bound to create and execute a formal document?
What is true about parties that negotiate terms but do not wish to be bound until a formal document is created?
What is true about parties that negotiate terms but do not wish to be bound until a formal document is created?
What did Baulkham Hills identify regarding preliminary agreements?
What did Baulkham Hills identify regarding preliminary agreements?
Which of the following best describes a situation under the 'Conditional Acceptance Category'?
Which of the following best describes a situation under the 'Conditional Acceptance Category'?
What does the acronym PER stand for in the context of preliminary agreements?
What does the acronym PER stand for in the context of preliminary agreements?
Which aspect is NOT considered when determining if parties intended legal relations in a preliminary agreement?
Which aspect is NOT considered when determining if parties intended legal relations in a preliminary agreement?
What is a major type of estoppel that arises when a party acts on the assumption of a future promise?
What is a major type of estoppel that arises when a party acts on the assumption of a future promise?
What does the term 'detriment' refer to in the context of equitable estoppel?
What does the term 'detriment' refer to in the context of equitable estoppel?
In the context of proprietary estoppel, which assumption is typically relied upon?
In the context of proprietary estoppel, which assumption is typically relied upon?
What factor is essential for establishing knowledge in the context of equitable estoppel?
What factor is essential for establishing knowledge in the context of equitable estoppel?
Which element is NOT part of the acronym AIDKDRU used to apply the 7-part test for estoppel?
Which element is NOT part of the acronym AIDKDRU used to apply the 7-part test for estoppel?
What is the primary focus of estoppel by representation?
What is the primary focus of estoppel by representation?
What legal concept is combined into a single doctrine along with promissory estoppel?
What legal concept is combined into a single doctrine along with promissory estoppel?
When did M learn about the demolition works, marking the knowledge of the assumption?
When did M learn about the demolition works, marking the knowledge of the assumption?
Flashcards
Unilateral Offer
Unilateral Offer
A promise made to the world, offering something in exchange for a specific action by another party.
Terminating an Offer
Terminating an Offer
Withdrawing or revoking an offer before acceptance.
Acceptance
Acceptance
An unqualified agreement to an offer's terms.
Electronic Communication
Electronic Communication
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Electronic Communication Receipt
Electronic Communication Receipt
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Binding Agreement Factors
Binding Agreement Factors
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Non-Binding Agreement Factors
Non-Binding Agreement Factors
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Preliminary Agreements
Preliminary Agreements
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Binding Preliminary Agreement
Binding Preliminary Agreement
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Conditional Preliminary Agreement
Conditional Preliminary Agreement
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Non-Binding Preliminary Agreement
Non-Binding Preliminary Agreement
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Incomplete Preliminary Agreement
Incomplete Preliminary Agreement
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Third-Party Beneficiary
Third-Party Beneficiary
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Estoppel
Estoppel
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Common Law Estoppel
Common Law Estoppel
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Equitable Estoppel
Equitable Estoppel
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Proprietary Estoppel
Proprietary Estoppel
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Promissory Estoppel
Promissory Estoppel
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Elements of Estoppel
Elements of Estoppel
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Assumption (Estoppel)
Assumption (Estoppel)
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Inducement (Estoppel)
Inducement (Estoppel)
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Detriment (Estoppel)
Detriment (Estoppel)
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Knowledge (Estoppel)
Knowledge (Estoppel)
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Study Notes
Unilateral Offers
- A unilateral offer can be made to the world at large.
- A unilateral offer is a promise to do something if another party performs a specific action.
- A promise to follow certain protocol as part of a tender process may be legally binding.
Terminating an Offer
- Offers can be withdrawn or revoked at any time before acceptance.
- Termination of an offer is effective when it reaches the offeree.
- Offers made to the public can be revoked in the same way the offer was made.
Acceptance
- Acceptance is an unqualified assent to the terms of an offer.
- Courts apply an objective test to determine if there is valid acceptance.
- Acceptance must be communicated to the offeror.
Electronic Communication
- Electronic communication includes text, online communication, fax, and voice mail converted into text.
- Electronic communication does not cover ordinary oral communication like telephone calls or voicemail.
Time of Receipt for Electronic Communications
- An electronic communication sent to a designated address is effective when it is capable of being retrieved by the addressee.
- An electronic communication not sent to a designated address in effective when it is both capable of being retrieved by the addressee and has been accessed by the addressee.
Factors Suggesting a Binding Agreement Exists
- Serious/important subject matter
- Detailed and formal language
- Promissory language
- Arms' length parties
Factors Suggesting a Binding Agreement Does NOT Exist
- Lack of commercial interest
- Party previously refused to enter a binding agreement
- Statement of policy/fact
Preliminary Agreements
- Parties may argue a preliminary agreement was intended to have immediate and binding effect.
- Courts consider the following four categories when determining the binding nature of a preliminary agreement:
- Parties decided on final terms and wish to restate them in a formal document = binding.
- Parties agreed on terms, but one or more are conditional upon the creation of a formal document = parties are bound to create and execute the formal document.
- Parties have negotiated some terms but do not wish to be bound until a formal document is created = not binding.
- Parties intend to be bound immediately but wish to add to a contract later = binding.
Third Party Beneficiaries
- A promisee can sue a promisor to enforce a contractual promise to confer a benefit on a third party.
- Remedies available may not be sufficient to ensure the third party obtains the promised benefit.
- Specific performance is limited and may not be available (e.g., personal services).
Estoppel
- Estoppel is a legal doctrine that prevents a party from going back on a promise or statement, even if it was not legally binding.
- Common law estoppel focuses on representations.
- Equitable estoppel covers assumptions of land interests and promises about future conduct.
- Proprietary estoppel is based on assumptions of a grant of an interest in land.
- Promissory estoppel is based on representations that lead to an assumption about future conduct.
Elements of Estoppel
- Assumption: The relying party must have adopted an assumption about a future event or state of affairs.
- Inducement: The representing party must have induced the relying party to adopt the assumption.
- Detriment: The relying party must have acted to their detriment in reliance on the assumption.
- Knowledge: The representing party must have known or intended that the relying party would rely on the assumption.
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Description
This quiz covers the essential concepts of unilateral offers, acceptance, and the nuances of terminating an offer in contract law. It also explores the implications of electronic communication on the acceptance of offers. Test your understanding of these fundamental legal principles.
