QLTS 과목 정리

- The Qualified Lawyers Transfer Scheme (QLTS) 

 

1. Contract Law 

 

- Core elements required to form a valid contract  : agreement (offer and acceptance), intention to create legal relations, consideration 

- Other essential elements of a valid contract : Capacity to contract, consent, legality, certainty of terms, form 

- Classification of contracts: Bilateral contracts, unilateral contracts, enforceability(void contracts, voidable contracts, unenforceable contracts) 

- Contract and Property Compared 

- The Overlap between contract and equity 

 

Agreement: offer, invitation to treat, principles applied by the courts in ascertaining whether there has been an offer capable of acceptance (Window and self-service displays of goods in shops, Advertisements, Ticket cases, Auction sales, Tenders, Subject to contract)  

- Cross-offers or Counter-offers 

- Termination of offer (Revocation by offeror: communication of revocation, unilateral offers), Rejection/Counter-offer by offeree, Lapse of time, death, Failure of a termination condition

- Acceptance : Acceptance by conduct, Communication of Acceptance (silence, postal rule)

- Vague and Incomplete agreements 

 

Capacity 

- Minors

- Valid Contracts : contracts for necessary goods and services, contracts which are beneficial to the minor 

- Other Contracts related to earning a living 

- Voidable contracts

- Remedies: recovery of money paid by minors, remedies against minors(liability in restitution, restitutionary liability under the minors' contracts act 1987) 

- Mentally Incapacitated persons 

- Intoxication 

- Corporations : Ultra Vires Rule, The Companies Act 

 

Consideration 

- Types of Consideration : Executory consideration, Executed consideration 

- Rules Governing Consideration: Past Consideration is not good consideration, Consideration must be sufficient but need not be adequate 

- Duties owed by law: Existing public duty, existing contractual duty, contractual duty owed to a third party 

- Variation of Contracts

- Part Performance of an agreement : The doctrine of promissory estoppel

 

Intention to create Legal Relations 

- Domestic and Social agreements

- Commercial Agreements : Express exclusion of intent (letters of intent, letters of comfort, honour clauses)

- Promotional Offers

- Mere puffs 

- Collective Agreements 

- Agreement to agree 

 

The Contents of the Contract

- Certainty of Terms 

- Pre-contractual Statements : Puffs, Representations, Terms 

- Differentiating Terms and Representations : Interval Between Statement and Execution of Contract , The importance of the Statement, Reduction of Terms to writing following the statement, Special Knowledge/skills 

- Classification of terms : Express Terms (Incorporation of terms, constuction : Parol Evidence Rule) 

- Conditions 

- Warranties

- Intermediate Terms 

- Interpretation of Express Terms 

- Implied Terms : Implied Terms in fact, Requirement of Neccesity, Terms Implied by Custom, Terms Implied by Law(Sale of Goods, Sale of Goods and Services, Examption Clauses, Consumer Contracts)