Contracts PASS Week 5

For a contract to be valid, you must have certainty and completeness

• True

• False

The courts will not enforce a contract if...

• Its terms are uncertain

• Its terms are certain

• All of the essential terms are agreed

• All of the essential terms are not agreed

What is the significance of a contract being found to be uncertain? The contract will be...

• Void

• Voidable

• Repudiated

• Unenforceable

What is the significance of a clause within a contract being found to be uncertain? The contract will be...

• Void

• Unenforceable

• Voidable

• Repudiated

It must be possible to objectively determine the meaning of the agreement with a reasonable degree of

Illusory promises are

How do the courts determine certainty for individual ambiguous and uncertain terms?

• Through hearing the matter on the balance of probabilities

• Through implying a standard of reasonableness

• Through hearing the matter beyond a reasonable doubt

• The simply make the individual term void

What happens in agreements to agree?

• The parties fail to reach a final agreement on essential terms but agree to finalise those matters at a later time

• The parties fail to reach a final agreement on non-essential terms but do not agree to finalise those matters at a later time

• Such agreements are unenforceable, as they are incomplete

• Such agreements are enforceable, as they have agreed to finalise the matters at a later time

What options are available for saving ambiguous or meaningless contracts?

• Link to an external standard

• Severance

• Link to a reasonableness standard

• Divisible obligations

• Waiver or removal of uncertainty

What are the possible options for saving ambiguous or meaningless contracts when linking to an external standard?

• The parties specifically incorporate an external standard

• External standards can be incorporated without specific reference

• External standards can only be partially incorporated without specific reference

• The parties specifically incorporate an internal standard