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May 16, 2024

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LAW2480 Business and Corporations Law TUTORIAL 3 (Week 3) Elements of a Contract Dr. Lydia Thiagarajah lydia.shalani.cecil.thiagarajah@rmit.edu.au Virtual ‘drop in’ consultations on Collaborate Ultra Fridays 12.30pm – 1.30pm Objectives ✓ Explain the key features and purpose of contract law ✓ Describe the different types of contract and distinguish between a unilateral and bilateral contract ✓ Describe the different elements of contract formation and explain the impact on contract validity where an element is not satisfied ✓ Identify an offer from a non-offer and explain the rules of acceptance ✓ Understand the postal acceptance rule and identify when it applies ✓ Describe the concept and rules of consideration and its application to contract formation ✓ Describe and apply the doctrine of promissory estoppel ❖ Attempt all questions prior to class. Note down in advance of tutorials, difficulties arising from lecture or reference materials and take advantage of tutorials to ensure that you clarify those difficulties. ❖ Assessment Task 1 : Available from Friday 4 th August 3pm to Tuesday 8 th August 11.59pm. Worth 10% (10 marks) of your total mark out of 100. Comprises 20 multiple choice questions, each have 5 possible answers. You will have 60 minutes to complete this in one sitting (no breaks).

Question 1 What is the purpose of contract law? Do you agree with Kirby P in Biotechnology Australia Pty Ltd v Pace (1988) 15 NSWLR 130 at 132 when his Honour said that: “the law of contract …..underpins the economy”? Question 2 What are the elements that make up a legally enforceable agreement? What if an element is not satisfied? What is the difference between a unilateral and a bilateral contract? Question 3 Explain how the postal rule works compared to the electronic means of making offers and acceptances, and the formation of a contract. Has the introduction of electronic communications law changed the historical basis of the postal acceptance rule? Question 4 Ming runs a hair salon called Australian Hairlines (Hairlines). Ming decides to promote the business by advertising a ‘special offer’ in the local paper. The advertisement he places in the local newspaper states that on the production by the customer of the advertisement, ‘Hairlines’ w ill give that customer a haircut at the low price of $10. The day after the advertisement is published, some 50 people arrive at the salon asking for the special haircut at $10. Ming is overwhelmed by the response and realises that the salon will lose a lot of money if this promotion continues. Ming decides to put up a sign in the salon’s window that states: ‘THE OFFER OF HAIRCUTS AS ADVERTISED HAS NOW FINISHED’. Required: Advise the following persons and cite authorities to support your answer: a) Forty customers produce the advertisement before the notice goes up in the window. Are these customers able to enforce any legal agreement? b) Ten customers do not have the advertisement with them, but still want to participate in the promotion. Are these particular customers able to enforce any agreement? c) Ming believes he has now withdrawn the promotion and has no further obligation to provide cut price haircuts. Advise Ming if this is correct?

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