Harvard Contract Law – Unit 1 Full Summary + IRAC Case Briefs (2025 Edition)

CONTRACT LAW – UNIT 1 FULL SUMMARY


🟦 1. What Is a Contract?
A contract is a legally enforceable agreement between two or more parties.

For a contract to exist, the following elements must be present:

• Offer

• Acceptance

• Consideration

• Intention to create legal relations

• Capacity

• Certainty of terms

• Legality

Unit 1 focuses on contract formation — how a contract begins and becomes binding.




🟦 2. OFFER
Definition

An offer is a clear, definite, and unequivocal expression of willingness to be bound on
specific terms once accepted.

Characteristics of a Valid Offer

• Must show intention to be bound

• Must be communicated to the offeree

• Terms must be certain and complete

• Can be made to:

• A specific person

• A group

• The world at large (unilateral offers)

What Is Not an Offer?

, These are invitations to treat, not offers:

• Advertisements

• Price displays

• Catalogues

• Auctions

• Requests for information

• Negotiations

These invite the other party to make an offer.


⭐ Termination of an Offer
An offer ends by:

• Revocation (before acceptance)

• Rejection

• Counter‑offer

• Lapse of time

• Death of offeror/offeree

• Failure of a condition




🟦 3. ACCEPTANCE
Definition

Acceptance is a final and unqualified agreement to the terms of the offer.

Rules of Acceptance

• Must mirror the offer (mirror‑image rule)

• Must be communicated

• Silence is not acceptance

• Acceptance by conduct is valid

• Counter‑offers destroy the original offer