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Contracts Law 1: Agreement and Consensus

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Contracts Law 1: Agreement and Consensus

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Questions and Answers

What is a fundamental requirement for an agreement to be considered a contract?

It must be signed by a lawyer

It must be in writing

It must be witnessed by two people

It must be freely entered into (correct)

What does the Latin legal maxim 'consensus ad idem' translate to in English?

A binding contract

A meeting of the minds (correct)

A verbal agreement

An agreement in principle

What is excluded from the definition of 'persons' in contract law?

Human beings

Artificial entities

Minors

Non-human species (correct)

What is an example of a positive duty in a contractual obligation?

Performing a task Signup and view all the answers

What is a characteristic of a contractual right?

A benefit received by one party Signup and view all the answers

What is a requirement for a contract to be enforceable?

It must be enforceable in a court Signup and view all the answers

What is an example of a domestic agreement that is not enforceable as a contract?

A promise to mow the lawn Signup and view all the answers

What is implied by the phrase 'freely entered into agreement' in the context of contract law?

The parties are not under duress or coercion. Signup and view all the answers

Why is a horse excluded from the definition of 'persons' in contract law?

Because it is not a human being. Signup and view all the answers

What is the primary distinction between a 'right' and an 'obligation' in a contract?

A right is a benefit received, while an obligation is a duty to perform. Signup and view all the answers

Why is a social agreement not considered a contract?

Because it is not enforceable in a court. Signup and view all the answers

What is the purpose of the concept of 'consensus ad idem' in contract law?

To establish a meeting of the minds between parties. Signup and view all the answers

What is the implication of a contract being 'enforceable in a court'?

The contract is valid and binding. Signup and view all the answers

Why is a contract not considered a contract if it is not enforceable in a court?

Because it does not confer rights and impose obligations. Signup and view all the answers