- Joined
- Feb 21, 2023
- Messages
- 31
- Thread Author
- #1
A
BILL
To
Reform the Foundation of Contract Law Act
The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
(1) This Act may be cited as the 'Reformed Foundation of Contract Law Act'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been proposed by Rep. ANDREASP15
(4) This Act has been authored by Sen. zLost
(5) This Act has been co-sponsored by Sen. Yeet_Boy and Sen. zLost
2 - Reasons
(1) The current contract law foundation act is unnecessarily complicated
(2) It has lots of missing parts
(3) Repealing it and rewriting it will make it easier than amending it
3 - Repealment
The Foundation of Contract Law (CLF) will be repealed (Act of Congress - The Foundation of Contract Law (CLF))
4 - Contract
(1) A contract is a legally binding agreement between two or more parties over which you can sue or be sued.
(2) The criteria's for a contract to be valid in order are: Offer, acceptance, consideration, capacity, legality and legal intent.
(3) If any of these criteria are missing, the arrangement does not create a legally binding contract.
5 - Types of contract
(1) There will be two types of contracts, express contracts and implied contracts.
(2) Express Contracts are formed through explicit verbal or written agreements between the parties involved, where the terms and conditions are clearly stated. They must meet all criteria's given above.
(3) Implied Contracts are formed based on the parties' actions or conduct rather than explicit verbal or written agreements. They must meet all criteria's given above.
6 - Offer and Acceptance
(1) A contract must start with a clear offer, stating terms for doing business.
(2) The offer must be unambiguous and communicated, preferably in writing
(3) The offeree must be aware of the offer for acceptance to occur.
(4) Distinguishing between an offer and an invitation to treat is crucial, an offer can be accepted where an invitation to treat cannot.
(5) Acceptance is a statement of willingness to enter into a contract as offered.
(6) Acceptance must match the offer exactly and be communicated, silence does not constitute acceptance.
(7) An action may not be considered acceptance. For example, telling someone that if they move they accept the contract does not count as acceptance.
7 - Consideration
(1) Consideration is the price paid under a contract and distinguishes it from a promise.
(2) Three forms of consideration: executed, executory, and past consideration.
(3) Executed consideration involves a promise in return for an act.
(4) Executory consideration involves a promise in return for a promise.
(5) Past consideration is invalid; fresh consideration is necessary. An action committed in the past is past consideration.
(6) If you make a promise to someone and they count on it, you would not be allowed to break your promise and ask for full payment, even if there wasn't a written agreement.
(7) Consideration must be given to a party to the contract.
(8) As for non-disclosure agreements, the information gained after signing the contract will count as consideration.
8 - Capacity and Legality
(1) Capacity refers to the legal ability of a person to enter into a contract.
(2) In order for a contract to be valid, all parties involved must have the necessary capacity to understand the terms and consequences of the agreement.
(3) Legality refers to the requirement that a contract must be formed for a lawful purpose.
(4) In order for a contract to be valid and enforceable, it must not involve any illegal activities or violate any laws.
9 - Legal Intent
(1) Legal intent refers to the requirement that parties entering into a contract must have a genuine intention to create legal obligations and be bound by the terms of the agreement.
(2) For a contract to be valid, all parties involved must intend to enter into a legally binding agreement.
(3) Contracts entered into as a joke or without serious intent lack the necessary legal intent and will be considered void or unenforceable.
(4) If it can be proven that one or more parties did not have the genuine intention to create legal obligations, the contract may be deemed voidable.
10 - Termination of a contract
(1) An offer may be terminated for various reasons.
(2) Revocation can occur if the offeror communicates that the subject matter is no longer available, before the contract is accepted.
(3) If any party dies (banned), the offeror/offered shall be allowed to repossess any capital that was contracted through the courts.
(4) If all parties involved agree, the contract may be terminated.
(5) If a clause in the contract states something that may get the contract terminated, then the contract may be terminated if that occurs.
11 - Terms
(1) Terms can be classified as conditions, warranties, or mere representations.
(2) Conditions are essential terms in a contract. If these terms are violated, the party who has been harmed by the violation can be released from any further obligations stated in the contract.
(3) Warranties, on the other hand, grant the harmed party the right to seek compensation for any damages caused by the violation, but they do not allow the harmed party to refuse to fulfill their own obligations.
(4) Mere representations are statements made in a contract that are not intended to be considered as binding terms. They serve as additional information or suggestions, but they do not carry the same weight as the significant terms of the contract.
(5) As it sometimes can be challenging to tell apart different types of terms in a contract, which sometimes leads to situations where the term becomes innominate and the court has to decide which term it is.
12 - Misrepresentation
(1) A representation becomes a misrepresentation when it becomes false.
(2) Misrepresentation occurs when one party makes an untrue statement of fact, causing the other party to incur a loss.
(3) Innocent misrepresentation occurs when statements are believed to be true but turn out to be false.
(4) Negligent misrepresentation occurs when statements are believed to be true without reasonable grounds.
(5) Rescission is a remedy for misrepresentation, allowing termination or continuation of the contract.
13 - Unfair Terms
(1) There shall exist a legal test to determine unfair terms in standard form contracts.
14 - Definitions
(1) Offeror - Person making an offer
(2) Offered - Person seeking to engage with the offer
BILL
To
Reform the Foundation of Contract Law Act
The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:
1 - Short Title and Enactment
(1) This Act may be cited as the 'Reformed Foundation of Contract Law Act'
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been proposed by Rep. ANDREASP15
(4) This Act has been authored by Sen. zLost
(5) This Act has been co-sponsored by Sen. Yeet_Boy and Sen. zLost
2 - Reasons
(1) The current contract law foundation act is unnecessarily complicated
(2) It has lots of missing parts
(3) Repealing it and rewriting it will make it easier than amending it
3 - Repealment
The Foundation of Contract Law (CLF) will be repealed (Act of Congress - The Foundation of Contract Law (CLF))
4 - Contract
(1) A contract is a legally binding agreement between two or more parties over which you can sue or be sued.
(2) The criteria's for a contract to be valid in order are: Offer, acceptance, consideration, capacity, legality and legal intent.
(3) If any of these criteria are missing, the arrangement does not create a legally binding contract.
5 - Types of contract
(1) There will be two types of contracts, express contracts and implied contracts.
(2) Express Contracts are formed through explicit verbal or written agreements between the parties involved, where the terms and conditions are clearly stated. They must meet all criteria's given above.
(3) Implied Contracts are formed based on the parties' actions or conduct rather than explicit verbal or written agreements. They must meet all criteria's given above.
6 - Offer and Acceptance
(1) A contract must start with a clear offer, stating terms for doing business.
(2) The offer must be unambiguous and communicated, preferably in writing
(3) The offeree must be aware of the offer for acceptance to occur.
(4) Distinguishing between an offer and an invitation to treat is crucial, an offer can be accepted where an invitation to treat cannot.
(5) Acceptance is a statement of willingness to enter into a contract as offered.
(6) Acceptance must match the offer exactly and be communicated, silence does not constitute acceptance.
(7) An action may not be considered acceptance. For example, telling someone that if they move they accept the contract does not count as acceptance.
7 - Consideration
(1) Consideration is the price paid under a contract and distinguishes it from a promise.
(2) Three forms of consideration: executed, executory, and past consideration.
(3) Executed consideration involves a promise in return for an act.
(4) Executory consideration involves a promise in return for a promise.
(5) Past consideration is invalid; fresh consideration is necessary. An action committed in the past is past consideration.
(6) If you make a promise to someone and they count on it, you would not be allowed to break your promise and ask for full payment, even if there wasn't a written agreement.
(7) Consideration must be given to a party to the contract.
(8) As for non-disclosure agreements, the information gained after signing the contract will count as consideration.
8 - Capacity and Legality
(1) Capacity refers to the legal ability of a person to enter into a contract.
(2) In order for a contract to be valid, all parties involved must have the necessary capacity to understand the terms and consequences of the agreement.
(3) Legality refers to the requirement that a contract must be formed for a lawful purpose.
(4) In order for a contract to be valid and enforceable, it must not involve any illegal activities or violate any laws.
9 - Legal Intent
(1) Legal intent refers to the requirement that parties entering into a contract must have a genuine intention to create legal obligations and be bound by the terms of the agreement.
(2) For a contract to be valid, all parties involved must intend to enter into a legally binding agreement.
(3) Contracts entered into as a joke or without serious intent lack the necessary legal intent and will be considered void or unenforceable.
(4) If it can be proven that one or more parties did not have the genuine intention to create legal obligations, the contract may be deemed voidable.
10 - Termination of a contract
(1) An offer may be terminated for various reasons.
(2) Revocation can occur if the offeror communicates that the subject matter is no longer available, before the contract is accepted.
(3) If any party dies (banned), the offeror/offered shall be allowed to repossess any capital that was contracted through the courts.
(4) If all parties involved agree, the contract may be terminated.
(5) If a clause in the contract states something that may get the contract terminated, then the contract may be terminated if that occurs.
11 - Terms
(1) Terms can be classified as conditions, warranties, or mere representations.
(2) Conditions are essential terms in a contract. If these terms are violated, the party who has been harmed by the violation can be released from any further obligations stated in the contract.
(3) Warranties, on the other hand, grant the harmed party the right to seek compensation for any damages caused by the violation, but they do not allow the harmed party to refuse to fulfill their own obligations.
(4) Mere representations are statements made in a contract that are not intended to be considered as binding terms. They serve as additional information or suggestions, but they do not carry the same weight as the significant terms of the contract.
(5) As it sometimes can be challenging to tell apart different types of terms in a contract, which sometimes leads to situations where the term becomes innominate and the court has to decide which term it is.
12 - Misrepresentation
(1) A representation becomes a misrepresentation when it becomes false.
(2) Misrepresentation occurs when one party makes an untrue statement of fact, causing the other party to incur a loss.
(3) Innocent misrepresentation occurs when statements are believed to be true but turn out to be false.
(4) Negligent misrepresentation occurs when statements are believed to be true without reasonable grounds.
(5) Rescission is a remedy for misrepresentation, allowing termination or continuation of the contract.
13 - Unfair Terms
(1) There shall exist a legal test to determine unfair terms in standard form contracts.
- Does the term cause a significant imbalance between the contractee's rights and obligations and those of the contractor?
- Is the term reasonably necessary to protect the legitimate interests of the contractor?
- Would the term cause the contractee detriment (financial or non-financial) if the contractor tried to enforce it?
- How transparent is the term?
14 - Definitions
(1) Offeror - Person making an offer
(2) Offered - Person seeking to engage with the offer
Last edited:
