Contract Law Essentials for Business Managers

1.  Understand the principles of formation of agreements

1. Distinguish between an offer and an invitation to treat
2. Identify and explain the legal rules applicable to acceptance of an offer
3. Assess the requirements for a valid consideration

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2.  Understand the rules that govern the content of a contract

1. Compare and contrast terms and representations
2. Identify the sources of contractual terms
3. Distinguish between conditions, warranties and innominate terms

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3.  Understand the vitiating elements that may affect the validity of a contract

1. Identify the elements of actionable misrepresentation
2. Differentiate between fraudulent, negligent and innocent misrepresentation
3. Analyse the development of the doctrine of duress

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4.  Understand how a contract can be discharged

1. Explain the different ways in which a contract can be terminated
2. Examine the difference between breach of conditions, warranties and innominate terms
3. Examine the doctrine of frustration

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5.  Understand the remedies available for breach of contract

1. Distinguish between liquidated and unliquidated damages
2. Assess the aim of damages Contract Law
3. Compare and contrast the different measures used for assessing damages

• The assessment strategy for this course is designed to test all the learning outcomes.
• Learners must demonstrate successful achievement of all learning outcomes to pass the course.

• The assessment criteria for a pass will be presented with the summative exercise.
• Further information and guidance on the assessment will be made available through the tutor.

To pass the unit a 40% overall grade must be achieved.