Contract Law PPT CONTENT.docVIP

Contract Law Case D and P had dinner together. At the end of the meal, D offered to sell farm to P for $50,000. Two days later, when P demanded D’s performent of the contract. D claimed he was drunk at the time, kidding and P knew that. D thought that there was no contract. Case Lucy v.Zehmer (1954) Definition of Contract Dictionary definition: English law French law The United States PICC CISG China Contract Law Form of Contract Oral or Written Implied Contract or Express Contract Bilateral Contract or Unilateral Contract Conditional Contract or Unconditional Contract Formation of Contract Elements of a contract Validity of a contract Section A Formation of Contracts 1. The essential elements of a binding contractual agreement: (a) offer(要约) (b) acceptance（承诺） (c) consideration（对价） (d) capacity (订立合同的能力） (e) intention to creat legal relations(创立合同关系的意图） Section A Formation of Contracts 2.Basic Principles of Contract Law Autonomy Good faith and honesty Fairness Legitimacy合法；合理 Section A Formation of Contracts (1) offer -- An offer is a promise, which is capable of acceptance, to be bound on particular terms. -- An offer differs from: (a) a mere statement of intention (b) a mere supply of information (c) an invitation of offer(要约引诱） Section A Formation of Contracts Section A Formation of Contracts -- What are the requirements for an offer? Clear expression of contractual intention definite content to be contained in a contract successful communication to the offeree Section A Formation of Contracts --legal effect of an offer In general, an offer has binding effect on the offeror. An offer shall not be altered or withdrawn. (continental law system) In general, the offeror is not bound by the offer unless it is signed and sealed. (common law system) An offer is revocable. But the offeror is liable for the damages caused by the revocation. Section A Formation of Contracts Termination终止 of offer: revocation of offer by offeror 撤回 cou