Search results
Results from the WOW.Com Content Network
Voidable contract 2(i): An agreement is a voidable contract if it is enforceable by Law at the option of one or more of the parties there to (i.e. the aggrieved party), and it is not enforceable by Law at the option of the other or others. 11. Void contract 2(j): A contract becomes void when it ceases to be enforceable by law.
The second section of the Act provides for various instances where the active provisions may be applied differently, or not at all. Section 2(3) establishes that parties may contract out of the Act, and that if under a true construction of the contract, this is the case, then the section may only apply if it is consistent with such a construction.
Unfair terms in English contract law are regulated under three major pieces of legislation, compliance with which is enforced by the Competition and Markets Authority (CMA). The Unfair Contract Terms Act 1977 is the first main Act, which covers some contracts that have exclusion and limitation clauses. For example, it will not extend to cover ...
The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law. The law governing transactions involving the sale of goods has become highly standardized nationwide through widespread adoption of the Uniform Commercial Code .
Sections 2 to 15B concern how a contract of sale is formed and, in particular, contain standardised implied terms in all contracts of sale. Section 2 specifies that a contract of sale involves the transfer, or an agreement to transfer, the property in goods from the seller to the buyer, in exchange for a money consideration, called the price.
Under section 2(2) the court has the discretion to substitute the right to rescind a contract for a small misrepresentation with an award of damages. [293] Under section 3, a court has the power to strike down clauses excluding remedies for misrepresentation if they fail the reasonableness test in the Unfair Contract Terms Act 1977. [294]
Weakening the act's effect, section 7(3) prevents third parties from being "treated as a party to the contract" in relying on any other act. Equally section 7(2) gives to defendants (facing action from third parties) the ability to exclude liability for negligence, if reasonable other than for death or personal injury; it disapplies the ...
The expressly agreed term must, if it is required by section 2 to be included in the single document, be a term of the sale of the land, rather than a term of some simultaneous contract (whether for the sale of a chattel or the provision of a service) which happens to take place at the same time as the land contract, and to form part of one ...