This podcast introduces the formation of a contract, outlining five essential elements: offer, acceptance, consideration, intention to be legally bound, and capacity. The podcast details each element, differentiating offers from invitations to treat using case law examples like Carlill v Carbolic Smoke Ball Company. It also explains the concepts of counter-offers, revocation, and the significance of consideration, including its sufficiency but not adequacy. Finally, the podcase touches upon contractual intention, highlighting the presumption in commercial transactions and exceptions in social or domestic settings, before briefly mentioning the formality requirements for certain contracts.

свернуть