Bilateral contract vs Unilateral contract
Bilateral contract: one in which each party promises something to the other. Unilateral contract: one in which a party promises to pay if the other performs an act.
Freedom of contract vs Inequality of bargaining power
Freedom of contract: the principle that parties may agree whatever terms they choose. Inequality of bargaining power: the reality that one party may be unable to negotiate at all.
Objective approach vs Subjective approach
Objective approach: asking what a reasonable person would understand the parties to have agreed. Subjective approach: asking what each party privately intended.

Questions from this topic

Each one with the model answer underneath.

1
What is a contract?
Model answer
A legally binding agreement between two or more parties which the courts will enforce.
2
What are the essential requirements for a valid contract?
Model answer
Offer, acceptance, consideration and an intention to create legal relations, with capacity and legality assumed.
3
What is meant by freedom of contract?
Model answer
The classical principle that parties should be free to agree whatever terms they choose without the state dictating them.
4
How has freedom of contract been limited in modern law?
Model answer
By statutory controls such as the Consumer Rights Act 2015 and by rules on unfair terms, which protect the weaker party.
5
What is the objective approach to agreement?
Model answer
The courts ask what a reasonable person would understand the parties to have agreed, not what either privately intended.
6
What is the doctrine of privity of contract?
Model answer
Only a party to a contract may sue or be sued on it, subject to the exceptions in the Contracts (Rights of Third Parties) Act 1999.

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Rules and Theory of Contract revision questions

What does Rules and Theory of Contract cover in OCR A-Level Law?: 1 subtopics: the rules and theory of contract. Each one has its own page with questions and model answers.
How is Rules and Theory of Contract organised?: By the OCR H418 specification, subtopic by subtopic, so it matches the order you are taught it in.

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