Law of Contract

LPB201
OYENIYI ABE

Course description

Description

In our day to day existence, we encounter various forms of agreements, promises, bargains, discussions and negotiations without inkling whether some or any of these activities have any effect and/or binding obligation in law. Developments and benefits of globalization demands that a legal regulation should be formulated to govern those agreements that humans enter into, hence the development of the law of contract. The law of contract forms an essential part of the Nigerian Legal System. It constitutes a major part of our day to day lives. Employee-employer relationship, your status as a student, holiday preparations with a travel agent, clothes dropped at ABUAD laundry, mention any instance- these all constitutes contractual elements which we take for granted most times.

This course is thus an introductory course to the law of contract.  It takes the students through the basic rudiments of an agreement. Such concepts include Nature of Contract: Sources of law, concept of bargain, classification. Formation of Contract: Offer and Acceptance, Consideration, intention to create legal relations. Contents of contract: Terms.  Representations, excluding and limiting terms and fundamental breach of terms.  Capacity; infants, illiterates, corporations, metal patients and drunken persons. Students will be involved in the principles governing formation of contract namely, intention, offer and acceptance, consideration, capacity and illegality.  Other areas you will be exposed to include the distinction between void, voidable and unenforceable contracts. The terms of a contract, will be discussed both implied and express - exclusion, or exemption clauses, in which a party attempts to limit its liability in the event of a breach of its obligations. You will be exposed to the differences between conditions and warranties and the respective remedies to which a party may be entitled in the event of a breach.

 

Qualifications and Goals

At the completion of this course, students should be able to:

(i) Understand the basic difference between contract and social agreements.

(ii) Understand the basic classifications of contract.

(iii) Outline the underlying presumptions of contract as distinct from social agreements.understamd the elements, of a contract namely intention, offer, and acceptance, consideration and promissory estoppel, capacity and illegality, and public policy.

(iv) Understand the meaning of ‘consideration’ and the consequence for a contract lacking consideration as well as the rules regarding consideration.

(v) Understand how to define contracts according to validity, performance and formation.

(vi) Explicate the peculiarity between contracts which are void, voidable and unenforceable.

(vii) Understand the terms of a contract – implied and express – and their relevance to conditions, warranties and innominate terms.

(viii) Explain the significance of exclusion or exemption clauses and fundamental breach of contract.

 

Course content

WEEK ONE                                                                                                        Oyeniyi Abe

  1. Nature of Contract
  2. Sources of Law
  3. Concept of Bargain
  4. Classification of Contract

 

WEEKS TWO TO FOUR                                                                                 Oyeniyi Abe

FORMATION OF CONTRACT

  1. Social Arrangements and Business Agreements
  2. Offer

2.1  Offer or Invitation to Treat?

  1. Termination of an Offer

 

WEEKS FIVE TO SEVEN                                                                               Ngozi Odiaka

  1. Acceptance
  2. Negotiation or a Request for Further Information
  3. Communication of Acceptance and the Postal Rule
  4. Consideration

4.1              ‘Nominal’ Consideration

4.2              Past consideration

4.3              Executory and Executed Consideration

  1. Performance of Existing Duties
  2. New approaches to Consideration
  3. Common law and equity: accord and satisfaction, promissory estoppel
  4. Equity at Work: Promissory Estoppel

 

WEEKS EIGHT TO NINE                                                                               Ngozi Odiaka

CONTENTS OF A CONTRACT

  1. Terms of a contract: covenant, Usage, business Efficacy and Implications

1.1              Express Terms

1.2              Implied Terms

1.3              Conditions, Warranties & other Clauses

1.4              Innominate Terms

1.5              Condition Precedent and Conditions Subsequent

  1. Exclusion (Exception) Clauses
  2. Exclusion (Exemption) Clauses
  3. Common Law Approach

4.1              The Reasonableness Test

4.2              Exclusion Clauses and the Consumer

4.3              Exclusion Clauses and Business Parties

 

 

WEEKS TEN TO ELEVEN                                                                 Augustina Clark

  1. Capacity to contract

1.1              infants, illiterates, corporations, metal patients and drunken person

 

WEEKS TWELVE TO THIRTEEN

Revision and Examination

 

 

Teaching-training activities

The students are expected to come prepared to the classes and they have to read the assigned readings prior to coming to the class.

Constructive class participation means active participation in class discussions on the topics covered. This in particular, includes: analysis of the court cases, expressing ones opinion on the questions and dilemmas discussed; contributing to class discussions with brief exposures of one’s own or otherwise known, relevant experiences; pointing to relevant yet controversial or unresolved dilemmas, questions and topics.

The final grade is based on class-participation (10%), continuous assessment (10%) and a written final exam (80%). The final examination is a three hour closed book in-class examination, with essay type questions, including hypothetical cases.

 

Support

Open Support

Human and Physical Resources

teachers and tutorial masters

Methods of evaluation

The students are expected to come prepared to the classes and they have to read the assigned readings prior to coming to the class.

Constructive class participation means active participation in class discussions on the topics covered. This in particular, includes: analysis of the court cases, expressing ones opinion on the questions and dilemmas discussed; contributing to class discussions with brief exposures of one’s own or otherwise known, relevant experiences; pointing to relevant yet controversial or unresolved dilemmas, questions and topics.

The final grade is based on class-participation (10%), continuous assessment (10%) and a written final exam (80%). The final examination is a three hour closed book in-class examination, with essay type questions, including hypothetical cases.

 

 


Manager(s) for LPB201 : OYENIYI ABE
Administrator for e-Learning Management System : ABUAD ICT
Phone : 08034515529 | Powered By: ABUAD ICT
Powered by Claroline © 2001 - 2013