[Solved]1.1 Outline the key principles of contract law

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[Solved]1.1 Outline the key principles of contract law

ATHE Level 3 Diploma in Law

3.28 Contract Law

Unit aims

To introduce learners to contract law.

Learning Outcomes

1. Know the key principles of contract law

1.1 Outline the key principles of contract law

1.2 Describe the different classifications of contracts

1 D1 Analyse three key theories of contract law

2. Understand the key elements of a binding contract

2.1 Distinguish between ‘an offer’ and an ‘invitation to treat’

2.2 Explain the issues regarding ‘the postal rule’

2.3 Explain ‘consideration’, the rules of consideration and ’the test of enforceability’

3. Understand contractual terms and exclusion clauses

3.1 Analyse the difference between a condition and a warranty, using cases to exemplify the analysis

3.2 Explain how terms are ‘implied’ within contracts

3.3 Explain the importance and methods of incorporation

3.4 Assess the importance of ‘construction’ for interpretation of the contract

4. Understand the legal issues of misrepresentation and mistake

4.1 Distinguish a ‘term of a contract’ from a misrepresentation

4.2 Differentiate between the different types of misrepresentation

4.3 Explain the categories of ‘mistake’ (common, mutual and unilateral), and their impacts on contract

5. Understand the legal issue of ‘Frustration’

5.1 Summarise the different ways in which a contract can be frustrated, providing examples of each

6. Understand the legal issues of duress and undue influence

6.1 Explain the concept of ‘duress’ and ‘undue influence’

7. Understand the legal issue of damages

7.2 Explain the concept of ‘the remoteness and measurement of damages’