Question 1

Classical theory of contract can be said to be concerned primarily with preventing parties pursuing their own self-interest?

Accepted Answer

Classical theory of contract is concerned with the idea of freedom of contract, which means that parties are free to pursue their own self-interests in the contractual relationship. It is based on the assumption that individuals are rational and have perfect information, and that contracts should be strictly enforced as they provide the best framework for economic exchange. Therefore, classical theory of contract does not aim to prevent parties from pursuing their self-interest, but rather seeks to provide a framework for parties to do so freely.

Question 2

Which of the following are established theoretical perspectives on English contract law?
A) Marxist
B) Feminist
C) Hobbesian
D) Revisionist

Accepted Answer

Marxist and Revisionist perspectives are established theoretical perspectives on English contract law.

Question 3

Which of the following are scholars usually associated with classical contract theory?
A) Brownsord
B) Powell
C) Lord Steyn
D) Anson

Accepted Answer

B,D

Question 4

To what extent do theories of contract law accurately reflect the actual behaviours of contracting parties?

Accepted Answer

The answer of To what extent do theories of contract...

Question 5

Why did MacNeil consider the distinction between 'discrete' and 'relational' transactions to be an important one?

Accepted Answer

The answer of Why did MacNeil consider the distinction between...

Question 6

Give examples of cases that could be said show a 'consumer welfarist' tendency in the law of contract. Explain how this is shown by these cases.

Accepted Answer

The answer of Give examples of cases that could be...

Question 7

What are the main international 'forces' that might be said to be influencing English contract law? What impact could they have?

Accepted Answer

The answer of What are the main international 'forces' that...

Question 8

Does English contract law have a unique character? Has any of this been lost as a result of European and international influence?

Accepted Answer

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Question 9

What are the primary functions of the law of contract?

Accepted Answer

The answer of What are the primary functions of the...

Question 10

Can we really talk about the law of contract or should we really talk of the law relating to contracts?

Accepted Answer

The answer of Can we really talk about the law...

Question 11

Why is it that not all 'agreements' are contracts?

Accepted Answer

The answer of Why is it that not all 'agreements'...

Question 12

Discrete contracts are characterised by being?
A) 'One-off' transactions between the parties
B) Generally made in secret
C) Never being made in writing
D) Not resulting from an existing business relationship between the parties.

Accepted Answer

The answer of Discrete contracts are characterised by being?
A) 'One-off'...

Question 13

Which of these are often argued to be functions of contract law?
A) To ensure private and state-owned businesses compete equally
B) To facilitate exchanges of goods
C) To enforce promises
D) To ensure the fair distribution of wealth

Accepted Answer

Contract law is primarily concerned with facilitating exchanges of goods and enforcing promises made between parties. It is not typically seen as a tool for ensuring equal competition or the distribution of wealth.

Question 14

A concept of good faith…
A) categorically does not exist in English law
B) has been rejected by the courts but some argue it might exist in some form
C) exists and is recognised as a part of the law
D) only applies in contracts that relate to the sale of land

Accepted Answer

Good faith is not a general principle in English contract law, but there have been discussions and some case law suggesting it might exist in certain contexts or be evolving.

Question 15

A contract is defined by being entered into voluntarily?

Accepted Answer

A contract is a legally binding agreement that is entered into voluntarily by two or more parties who agree to terms and conditions set forth in the agreement. Voluntary consent is a key element of a contract, and without it, the contract may not be enforceable.

Question 16

A contract is only enforceable if it relates to physical goods?

Accepted Answer

A contract can relate to various things, including digital goods, services, and intangible assets. It does not have to exclusively involve physical goods.

Question 17

In all contract cases, a court will consider the relative bargaining power of the parties?

Accepted Answer

While a court may consider the relative bargaining power of the parties in some cases, especially those involving adhesion contracts or unconscionability, it is not a factor that is considered in all contract cases. Courts primarily focus on the agreement's legality, the fulfillment of contract formation elements (offer, acceptance, consideration), and the parties' intent.

Question 18

Classical theory of contract essentially reject the notions the contracts are related and views each one as discrete from another.

Accepted Answer

This statement is true. The classical theory of contract suggests that each contract is a discrete and independent agreement, with no relation or connection to any other contracts.

Question 19

The courts do not readily seek to 're-write' or add to contracts that parties have agreed to.

Accepted Answer

The principle of freedom of contract means that the courts will generally enforce the terms of a contract as they are written, rather than modify or add to them.

Question 20

Contractual terms can be added to contracts, for example by statute even if they not agreed upon by the parties.

Accepted Answer

Statutes can add certain terms and provisions to contracts, regardless of whether the parties have agreed upon them or not. These are known as implied terms or statutory terms, and they are intended to protect certain rights and interests, such as those of consumers or employees.

Quiz 1: Introduction