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Description
Flashcards by amanda.acton, updated more than 1 year ago
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Created by amanda.acton
over 11 years ago
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| Question | Answer |
| Contract | A legally binding agreement that can be enforced in a court of law. |
| The Law of Contract | Sets out the rules for proving when a contract exists and when a contract is terminated. |
| Consideration | What each party offers the other as evidence of their agreement. |
| Intention to Contract | Means that the parties in the contract must have intended to create a legally binding contract that could end up in court if not fulfilled. |
| Consent to Contract | Means that each party must give genuine agreement of their own free will to the making of the contract. |
| Capacity | Means that the people agreeing to the contract must have the legal right to do so. |
| Legality of form | Means that certain contracts must be drawn up in writing beforethey can become legally binding. |
| Legality of Purpose | Means that for a contract to be legally binding, it must be for a legal purpose and not involve committing any crime or breaking any law. |
| Termination of a Contract | Means it can no longer be legally enforced. |
| Condition | An essential element of a contract. |
| Warranty | A non-essential element of a contract. |
| Caveat Emptor | A legal term meaning 'let the buyer beware'. |
| The Sale of Goods and Supply of Services Act 1980 sets out... | 1) The legal rights of consumers when they purchase goods. 2) The legal responsibilities of retailers to consumers. 3) The legal remedies available. |
| Merchantable Quality | Means that goods sold to consumers must be reasonably durable, even if they are sale items. |
| The Consumer Protection Act 2007 | The law that protects consumers from unfair business-to-consumer commercial practices. The act bans practices that are unfair, misleading, or aggressive towards consumers, and are likely to impair a consumers' choice. |
| The National Consumer Agency | The State agency that promotes consumers' awareness of their legal rights and ensures that consumer legislation is obeyed by businesses. |
| The Consumers Association of Ireland | A non-commercial organisation set up to protect and promote the interests of consumers. |
| Small Claims Court | Provides an inexpensive, fast, and easy way for consumers to resolve disputes without the need to employ a solicitor. |
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