The Elements of Contract

Sections 17 to 36 of the Act treat with anti-competitive practices

The Fair Competition Act of 1993 is two fold - It regulates the competitive environment and it seeks to provide consumer protection.

Speciality Contract. Concerned with when the transfer of the property in the Goods passes from the Seller to the Buyer. What is a Sale? What is an Agreement to Sell?

Having established a valid contract, how does that contract come to any end? A contract may be discharged by Performance, Agreement, Frustration and Breach. With respect to the latter, the issue of Remedies arise.

Consideration. What constitutes good consideration. Executors, Executed and Past Consideration. The Rule in Pinel's Case and the exceptions to the rule of Past Consideration.

Distinction between Offer and Invitation to Treat, Termination of Offer, Acceptance

There are five elements of contract formation, namely valid offer, valid acceptance, good consideration, intention to be legally bound and capacity. In this session we are exploring what constitutes a valid offer and how that is distinct from an invitation to treat.

In Part 1 we looked at Mistake as a vitiating factor. Here we turn our focus to Misrepresentation. We are concerned with typology, effect and remedies. The extent and the limitation of those remedies.

Having established a valid contract and what are the express, implied or intermediary terms of that contract, the questions is can anything render such a contract invalid and if yes, what are those factors? What remedies are available? What is the typology of the vitiating factors?

Having established the elements of a valid contract we now turn our attention to the content of the contract. What are the Express and or implied terms to which the parties have bound themselves to perform. If the fail so to do, what are the consequences?