Problem 1: What is meant by "freedom of contract"? Explain the impact of this principle on the development of contract law. What are two types of restrictions on this principle?
Problem 2: Is an agreement to agree binding? Explain your answer.
Problem 3: Distinguish between an offer to treat an invitation to treat?
Problem 4: When is a contract formed?
Problem 5: Explain the role the post box rule on the principles governing acceptance?
Problem 6: Does consideration have to be fair? Explain your answer.
Problem 7: If a person is rescued promises to pay the rescuer $1000 but doesn't pay, will the rescuer be successful in suing for breach of contract? Explain your answer.
Problem 8: Explain the difference between a formal contract and parole contract.