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Terms of Contracts

In: Business and Management

Submitted By avionics88
Words 6952
Pages 28
Terms and Exemption Clauses
1) Parol Evidence
2) Terms and Representation
3) Implied Terms a) In Fact b) In Law c) In Statute d) By Custom
4) Classification of Terms
5) Exemption Clauses: Incorporation a) By Signature b) By Notice c) By Previous Course of Dealing
6) Construction a) Contra Proferentem Rule b) Rule in Cases of Negligence Liability c) Doctrine of Fundamental Breach
7) Unfair Contract Terms Act (UCTA) a) Liability in Negligence b) Liability in Contract c) Sale and Supply of Goods d) Test of Reasonableness

Parol Evidence Rule

a) No extrinsic evidence (such as any oral agreement or statement) is admissible to add to, vary or contradict a written instrument or contract. b) Exceptions c) Contract was the result of mistake, a lack of consideration, or of misrepresentation d) Mistake in the written contract i) Joscelyne v Nissen (1970) e) Contract has not yet come into existence or that it is no longer in operation i) Maybe due to the occurrence or non-occurrence of a certain event by a certain date, which has been accepted verbally ii) Pym v Campbell (1856) iii) Obligation to buy shares in an invention was conditional upon a 3rd party approving the invention, of which the approval had not been received. f) Where extrinsic evidence demonstrates that a particular custom of trade must be implied to, and therefore become a part of, the written agreement. i) Smith v Wilson (1832) ii) Evidence of local custom show that “1000 rabbits” really meant “1200 rabbits” was allowed g) Customer transaction between a consumer and a supplier i) S17 of Consumer Protection Act: parol or extrinsic evidence establishing the existence of an express warranty is admissible in any action relating to a consumer transaction between a consumer and…...

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