Contents Page

1 First Scenario ------------------------------------------------------------------------------------ 3

1.1 Was there a Contract Formed? 1.2.1 Existence of Offer 1.2.2 Existence of Acceptance 1.2.3 Existence of Consideration 1.2.4 Existence of Intention to be legally bound 1.2 Terms v Representation 1.3 Condition v Warranty 1.4 Remedies for Breach of Condition 1.5 Exemption Clause 1.6.5 Incorporation by Signature 1.6.6 Incorporation by Notice 1.6.7 Construction 1.6.8 Unfair Contract Terms Act 1.6.9.1 Reasonableness 1.6.9.2 Hire-Purchase Act 1.6.9.3 Misrepresentation Act 1.6.9 Legal Advice 1.6 Misrepresentation 1.7.10 Materiality Test 1.7.11 Actual Inducement Test 1.7.12 Types of Misrepresentation * Fraudulent Misrepresentation * Negligent Misrepresentation * Innocent Misrepresentation 1.7.13 Remedies for Negligent Misrepresentation 1.7.14 Legal Advice

1 Second Scenario ----------------------------------------------------------------------------- 14

2.7 Fraudulent Misrepresentation 2.8 Remedies for Fraudulent Misrepresentation 2.9 Legal Advice
1 First Scenario

In order to address if Will is legally bound to purchase the art piece from grace or whether he can sue grace for breach of contract, we must first ascertain if there is a contract being made between the two parties.

1.1 Was there a contract formed?

There are four requirements that have to be satisfied in order for a legally binding contract to be formed that are stated below:

1) Offer 2) Acceptance 3) Consideration 4) Intention to create legal relations