- 20 Marks
Title: BCL – L1 – Q19 – Contract Law
Question
In building the capacity of staff in Apex Gaming Commission, management has engaged a consultant from Nevada, (a well-known gaming state) under a contract to provide training. Some board members have opposed this engagement of the consultant from Nevada on the ground that their operational jurisdiction is different. In order to ensure that your company has full benefit of the signed contract and also reduce its legal risks, Management has requested you to prepare an Internal Memo to the Chief Executive Officer and explain the following:
(a) the basic elements of a contract
(b) the circumstances under which the contract can be vitiated
(c) the remedies for a breach of contract
Answer
(a) The elements of a valid contract are: Agreement constituted by offer and acceptance, Consideration, Intention to create a legal relation, Contractual Capacity and Legality. Each of these must be explained with decided cases or illustrations.
(b) Candidates are to define vitiating factors which make the contract unenforceable:
- Candidate shall identify factors that may vitiate a contract (Mistake, Duress, undue influence, Public Policy, Unconscious, Fraud and Misrepresentation—any 4 or 5).
- Candidate shall explain how these factors can or cannot vitiate a contract.
- Candidate shall indicate that when these factors are not present in a contract the contract is not binding.
(c) When there is a breach of contract, the remedies available to the parties either way include damages, restitution, specific performance.
- Tags: Breach of Contract, Damages, Remedies, Specific Performance
- Level: Level 1
- Topic: Contract Law
- Uploader: Samuel Duah