What Is Conclusion on Consideration of Contract Law?
Although no definitive conclusion on consideration of contract law exists among courts, consideration is a vital element of a contract that makes it legal. 3 min read
Although no definitive conclusion on consideration of contract law exists among courts, consideration is a fundamental element of a contract that makes it valid and legal.
Consideration of Contract
Legal policies are made up of four main categories: civil, criminal, public, and private laws. Contract law regulates business operations by enforcing rights and obligations of the parties to the contract. Contract law takes into account private law. If a contract violates any laws, then it is void. Contracts are law-binding documents, either written or verbal, that make sure both parties deliver on their promises stated in a contract.
Types of Contracts
- Express contracts state both parties' roles and duties explicitly.
- Bilateral contracts legally bind the parties by their mutual promises to each other.
- Unilateral contracts consist of one party making an offer to another party who can accept the terms of the contract by excusing outlined actions.
Both parties must agree on the contract's consideration for a contract to be legal, valid, and binding to both parties. Consideration refers to the trade of valuable goods or services of approximately equal value. Typically, consideration takes the form of money, but products or services could also be accepted. Contract law uses consideration to determine the value exchanged in a contract.
Deals without consideration are not legally binding. This makes the contract unenforceable in the court's eye, meaning that parties won't be able to start legal action against each other in case of breach of contract. A business attorney can help you prepare and implement a contract. He or she will provide legal representation if needed. Your attorney will make sure that the contract is legally binding, that all requirements are set and agreed upon, and that value is clearly stated in the contract. While hiring an attorney can be costly, it will help eliminate various legal problems in the future.
Important Definitions
- Punitive damages are punishment awarded to the defendant, which exceeds actual damages.
- Liquidated damages and penalty clause sets an amount of money that must be paid in case of breach of contract.
- The needs of mutuality clause means that each party must agree on the value and terms stated in the contract.
- An injunction is a court order that rules or restrains a certain action. There are two types of injunctions: prohibitory and mandatory. Mandatory injunctions require a party to perform certain actions, while a prohibitory injunction prohibits a party to engage in certain activities.
- Restitution requires both parties to give back goods or services delivered or compensate the other party for their value.
- Restitutio in intergrum voids a contract and allows the parties to go back to their initial state.
Consideration is a fundamental element of an ethical contract allowing both parties to benefit from the agreement. Parties' rights and obligations should be thoroughly stated to avoid misunderstandings or violation of the contract. Without consideration, a contract is not legally binding as it doesn't provide a set value on a performance or task.
A Conclusion of a Contract
To avoid legal issues in the future, parties must come to an agreement by setting a value to specific goods, services, or job performance. Consideration legally binds a contract, protecting both parties from potential lawsuits or misunderstandings. In addition, consideration often includes a section that determines loss responsibility. Having a contract that clearly states this information helps a court to determine where the failure occurred, who is at fault, and what penalty to award.
The intention of the parties regulates the distinction between terms and representation in a contract's statements according to the following criteria:
- The significance of the term to the maker of the statement makes it a term.
- If the individual making a statement had a special skill or knowledge of the subject, then the statement is a term.
- If the other party was told to verify the truth of the statement, the statement is a representation.
- All written-down statements are the terms, while everything else is a representation.
The parol evidence rule prevents the introduction of extrinsic evidence that could alter the terms of a contract in any way.
Collateral contracts allow parties to make additions to main contracts.
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Consideration.
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CONTRACT LAW
Difference between contract and gift, hypothesis , the origin of doctrine of consideration, sir frederick pollack on consideration, the idea of the contract law as bargain, consideration in common law, civil code countries, convergence of contract law.
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FUTURE OF CONSIDERATION
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Conclusion of a Contract
Info: 2110 words (8 pages) Essay Published: 7th Aug 2019
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There maybe an extensive negotiation between the parties leading to a conclusion of a contract. This maybe in a form of an oral or written communications such as letters, price lists, advertisings as well as formal contract documents. If a dispute arises, it has to be decided what exactly has been said or written and what is the effects of it.
Certain problems can arise when both parties agree that a certain statement was made, although they disagree on whether that statement was part of a contract and therefore intended to be binding.
Were there terms or representations? Or they are just mere sales talks with no legal effect? Even where the eventual contract is set out in a formal document, statements outside that document may have to be considered as representations, supplemental terms or collateral terms. The effect of a particular statement is a matter of law.
Terms And Representation
The classical statements were made during negotiations is important because it will affect the remedies available if given false statements. Remedies available depends on whether the status of a term inside the contract or a mere representation outside the contract. Breach of term gives the claimant the right for damages; liability is strict; misrepresentation gives a right to damages only if misrepresentation was fraudulent or negligent.
The term-or-representation question is also important if the claimant wants to get out of the contract. It is easier to end any negotiations for misrepresentation allows the claimant to rescind the contract; but only if a serious breach is occurred, allows the claimant to terminate the contract. This caused serious problems when a statement both induces the contract and is incorporated as a term of a contract. Before the Misrepresentation Act 1967, the claimant was confined to his remedies for breach of contract (Compagnie Francaise des Chemin de Fer Paris-Orleans v Leeston Shipping Co), losing his right to rescind the contract for misrepresentation.
In order to avoid difficulty of classifying statements and the consequent uncertainty in defining terms of the contract, a written contract may include an “entire agreement” clause. Such clauses are designed to reinforce the presumption referred to above where the parties have entered into a written contract they intend the written document to contain all the terms of their agreement, by making clear that no statements outside the written contract are intended to have contractual effect, either as terms of the contract or as collateral contracts.
How Is The Representation-Term Distinction Made?
The distinction is said to be based on intention of the parties as objectively manifested by their words and conduct (Helibut, Symons & Co v Buckleton; Oscar Chess Ltd v Williams). The real question is not whether the maker of the statement has agreed to bear the contractual responsibility for the truth of the statement, but whether he should. The courts follow the guidance of several criteria:
(I) The Importance Of The Truth Of The Statement To The Representee:
The more important the statement, is to the representee, the more likely it’s a term. (Bannerman v White)
(II) Whether The Speaker Had Special Knowledge:
A court is likely to find it as term if the maker of the statement has special skill or knowledge in the subject-matter of the statement, or is in a better position to ascertain, or bears more responsibility for ascertaining, the accuracy of the statement than the other party. (Dick Bentley Productions Ltd v Harold Smith (motors) Ltd)
(III) Whether The Innocent Party Was Asked To Verify The Truth Of The Statement:
A statement is unlikely to be a term, but maybe a representation, if the maker of the statement tells the other party not to rely solely on the statement but to very it’s truth. (Ecay v Godfrey)
(IV) Whether The Speaker Initiated The False Statement Or Merely Passed It On:
Lord Denning in (Routledge v Mckay, Schawel v Reade) speaks about innocent passer by (third party)
(V) Whether the statement was formerly recorded:
A contract may be oral, but if it is recorded in writing, the presumptions are that the document records the complete terms and anything not included is a representation.
Written Terms
Written terms can be incorporated into a contract in three ways: by signature, by reasonable notice and by a previous course of dealing. This issue arises most often in connection with exclusion and limitation clauses, but it is important to remember that the rules apply to any written term.
If contract is put down in writing, any statement appearing in that written agreement will usually be regarded as term, and any prior oral statement that is not repeated in the written agreement will usually be regarded as a representation, due to assumption that if statement left out of written agreement, the parties did not view the statement as important. (Duffy & Ors v. Newcastle United Football Co. Ltd.)
The Parole Evidence Rule:
Under this rule, where there is a written contract, extrinsic (parole) evidence cannot change the express terms laid down in that document. Extrinsic evidence includes oral statements, and written material such as draft, contracts or letters, whether relating to pre-contract negotiations or the parties’ post-contractual behaviour. An example of parole evidence rule in practice is Henderson v Arthur. The parole evidence rule ostensibly promotes certainty and predictability and avoids evidential difficulties. (Jacobs v Batavia & General Plantations Trust Ltd)
However, this advantages turn out to be more apparent than real because of the long list of exceptions to the rule necessitated by the equally legitimate demands of justice. Amongst the most important exceptions are claims that:
- The contract is vitiated exp misrepresentation, mistake, non est factum, duress, and under influence
- The contract includes terms additional to those contained in the contractual document, whether express or implied.
- The words of the document do not accurately record the parties’ agreement
The collective width of these exceptions calls the rule into question since, in practice, it will rarely prevent a party from adducing the sort of evidence the rule prohibits. Today, the rule should be easily rebuttable presumptions that a document purporting to be the contract contains the whole contract.
Collateral Contracts:
There is a way in which an oral statement can be deemed binding, even thought it conflicts with a written contract and does not fall within any of the exceptions to the parole rule. (City v Westminister Properties Ltd v Mudd)
It has been suggested that the device that the device of finding a collateral contract based on an oral statement largely eliminates the parole evidence rule, and the above case does tend to support this view. Use of the device is, however; limited by the fact that a statement can only operate as a collateral contract if supported by separate consideration.
A collateral term could only add to, but not vary or contradict, the written document. To side-step this problem, the courts simply found a collateral contract. However, as Phillimore LJ’s dicta shows, it is now accepted that collateral terms and collateral contracts performs the same functions:
(I) Circumventing The Parole Evidence Rule:
Enable the party to add to, vary or contradict a contractual contract
(II) Conferring The Remedial Advantages:
Prior to the Misrepresentation Act 1967, the collateral device was found useful in mitigating the unavailability of damages for innocent misrepresentations.
(III) Overriding The Privity Rule: Shanklin Pier Ltd V Detel Products Ltd
(iv) overriding unreasonable exemption clauses: j evans & sons (portsmouth) ltd v andrea merzario ltd.
But entering into the main contract will not be consideration for collateral promise if that promise is made after the main contract is concluded; in that case entering the main contract will be past consideration, and therefore not valid. Clauses which seek to deny any legal effect to or exempt liability in respect of statements outside the written contract may be subject to a requirement of reasonableness.
The Incorporation Of Terms
Disputes often arise when one party attempts to rely on a term in a document purporting to be the contract but the term is unknown and very prejudicial to the claimant. The legal question is not whether the statement is a term; rather, it is one of ‘incorporation’, whether the disputed term forms part of the contract between these parties. A statement in a document can be incorporated into the contract by
- Signature of the document
- Reasonable notice of the written terms
- Previous dealing of custom
Signature Of The Document
The general rule is that a person is bound by the contents of a contractual document he has signed whether or not he reads or understands it and, even if he does not understand the language in which the contract is expressed (Parker v South Eastern Railway Co, The Luna). The potential harshness of this rule is demonstrated by L’Estrange v F Graucob Ltd.
Reasonable Notice Of The Written Terms
In the course of negotiations, a document may have been delivered by one party to the other, displayed in a notice or incorporated by reference. The proffering party seeking to enforce the terms in the unassigned document must show that he has given the other party adequate notice of them.
Previous Dealing And Customs
In the absence of signature or reasonable notice, a term in printed document may be incorporated by a consistent course of previous dealing between the parties or of the custom of the relevant trade. Terms are more likely to be so incorporated if the parties are of relatively equal bargaining power.
Implied Terms
These are terms which are not laid down in the contract, but which it is assumed both parties would have intended to include if they had thought about it – the may be left out by mistake, or because one or both parties thought them so obvious that they did not need to be spelt out. In order to decide what the intention of the parties was, the courts have developed two overlapping tests: the officious bystander test and the business efficacy test.
The Officious Bystander Test
This test was laid down by Mackinnon LJ in Shirlaw v Southern Foundries
The Business Efficacy Test
This test covers terms which one side alleges must be implied in order to make the contract work – to give it business efficacy. (The Moorcock) The principle in that case was clarified and its limits defined.
Both Tests Are Subjective
Both of this officious bystander and the business efficacy tests are subjective: they ask what the parties in the case would have agreed, and not what a reasonable person in their position would have agreed. Consequently, attempts to imply terms if fact commonly fail for one of two reasons.
First, a term will not be implied in fact where one of the parties is unaware of the subject matter of the suggested term to be implied, or the facts on which the implication of the term is based. (Spring v NASDS)
Secondly, a term will not be implied in fact if it is not clear that both parties would in fact have agreed to its inclusion in the contract; there may be many cases where a term that one party sees as obviously implied is strenuously rejected by the other party; who regards it as against their interest. (Luxor (Eastbourne) Ltd v Cooper)
House of Lords recently emphasized that they would only imply such terms where it was strictly necessary (Equitable Life Assurance Society v Hyman). The House of Lords also stated that a distinction had to be drawn between interpretation and implication. The purpose of interpretation is to assign to the language of the text the most appropriate meaning that the words can legitimately bear.
In conclusion, the remedies of representation and terms are the same but the remedies will be used depends on certain situations.
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Contract Law: Analysis of the Concept
Introduction, definition of contract law, process of contract formation, an issue in contract law, international contract law, reference list.
Law is usually understood as the structure of rules which are developed and carried out through various governmental institutions in order to regulate and bring overall harmony to the society. In the contemporary world, some people even describe the law as an art of integrity and justice since it aims to create a safe and transparent environment for every individual. The system of law is complex and can be divided into various branches; therefore, a “thorough knowledge of the law takes years of specialized study” 2 . One of the divisions of the law structure is business law, which is sometimes also referred to as commercial law. Due to the fact that people all over the world continually engage in business by purchasing goods, renting vehicles and apartments, and becoming employees of different companies, it is essential to understand the divisions and different processes happening in the sphere of business law. Thus, the following paper will take a closer look at the topic of contract law by defining this concept, explaining the processes involved, identifying a significant issue, and examining its use on the international level.
Contract law is a complex and one of the most salient bodies of business law that is established around the organization and enforcement of agreements. In the modern society, people are regularly required to follow specific duties imposed on them to ensure that society functions according to the latest guidelines. However, individuals cannot always act entirely on their own. Human beings are continually facing life situations which involve cooperation with other people or businesses and, very often, spoken communication is not enough to identify the needed regulations between the parties. Consequently, contract law is what is being used to control and coordinate the relationships established as a result of an agreement. 1 Over the years, contracts have gained significant recognition from the public, became more sophisticated, and started to appear on the international level. 1 Any individual who conducts business or develops legal relationships with corporations is required to use contract law. Both companies and clients sign agreements when they purchase and sell goods, create employment and insurance contracts, and license various activities. 1 Contract law ensures transparent cooperation between people and businesses and, for this reason, it is widely used in organized society.
Since the legal contract is an agreement that enforces parties to follow specific guidelines, it must include several elements. At the very beginning of contract establishment, one agent makes an offer which should clearly state the terms the other person or business has to agree with and sign. 1 In case another agreement participant is ready to accept the suggestions without bringing any additional changes, the contract becomes complete. 1 One of the most critical elements that follow the acceptance stage is the intent. At this phase, both parties agree on entering a legal contract that can be enforced by law in case any misunderstandings or conflicts arise between the parties. 1 Finally, the last stage of the contract development is the consideration which means that every side has to give up something of value in order to attain a specific goal stated in the legal agreement. 1 Some other elements that each contract contains are terms and provisions which stand for the details, such as numbers, places, people, and positions. 1 In general, both of the parties have to be competent enough to enter the contract and accept its rules and conditions voluntarily.
Like any other body of legislation, contract law changes and goes through rapid stages of advancement, which contribute to the emergence of different legal issues. The digital revolution and the growing popularity of technology have considerably increased inequalities and brought problems to contractual practices that have to be regulated by the law. 1 Nowadays, one of the most visible problems of contract law in the digital environment is the lack of transparency. Even though it may seem that with the use of highly developed technology and the Internet, it should be much easier to access needed information and rules, various companies tend to confuse or deceive their customers.
Different online platforms claim that their main benefit is that, after agreeing to terms and conditions, the client is eligible to access any documents and increase the number of business opportunities. 1 Nevertheless, millions of people responded that they need more transparency concerning the data collection processes and the exploitation of their documents after the contract formation procedure. 1 Hence, digital contracts should be simple to understand and provide all the information about personal rights and actions in case the terms are violated.
Since contemporary society is interconnected and businesses are cooperating on the global level, the need for international contracts is growing. The establishment of businesses between different countries does not exclude the requirement of signing a legal agreement. People still need to go through the same process of contract formation and agree on the consequences, conditions, and guidelines of the arrangement. On the other hand, the international dimension can bring slight corrections to the process of agreement establishment. When people or businesses are entering a contract that develops a secure connection between more than one country, the issue of choosing which set of obligations should be applied arises. 1 While organizing the communication and transactions, both parties need to agree on a specific set of rules and, in case of a misunderstanding, refer to a default set of regulations created to control the process. 1 For instance, at a European level, the rules for conflict resolution “are unified in the Regulation of the Law Applicable to Contractual Obligations.” 1 Therefore, contract law does not only exist on the local level but also receives much attention when establishing corporate relationships globally.
To summarize, laws are an essential component of contemporary society as they help to establish trustworthy relationships between individuals and organizations. Laws identify what has to be done and what are the consequences of disobedience. For this reason, businesses widely use laws as a way to ensure that they will achieve the desired goal and, at the same time, deepen their cooperation with partners. There are various segments of business legislation; however, contract law is one of its most used and popular branches. Since millions of individuals all over the globe have to deal with the establishment of corporate relationships every day, contract law helps enforce the needed rules and obligations. Contract legislation is a complex concept which includes various processes and has to solve regularly arising issues in the digital and international environment. Therefore, the presented paper discovered contract law more deeply by discussing its theory and processes, mentioning one contemporary problem, and determining contract establishment details on the global level.
- Beale H, Fauvarque-Cosson B, Rutgers J, Vogenauer S. Cases, Materials and Text on Contract Law . 3 ed. Oxford, UK: Hart Publishing; 2019.
- Davidson DV, Lynn MF, Brenda EK. Business Law: Principles and Cases in the Legal Environment . 2 ed. Frederick, MD: Wolters Kluwer Law & Business; 2015.
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Contract Law Essay examples
02 May 14 Contract Law – Question and Suggested Answer applying IRAC to help with EC4003 Final Assessment When preparing for a law-based assessment here are a few pointers which students may find helpful. You will be given case studies well in advance of the assessment to enable you to identify and research the relevant legal issues. When analysing any law-based case study you may find it helpful to use the IRAC process (which can usually be found in module booklets and online via weblearn/Blackboard.) It is not suggested that you use IRAC as a structure for your answers, but using it as an analytical tool may help you keep to the question and avoid missing important points which may be relevant to the question set. 1. I is for ISSUE You should identify the issue or issues (for example: a dispute between the parties) raised by the facts of the case study. 2. R is for RULE You should identify the legal rule or rules applicable to the particular issue or issues. This means you need to identify the relevant law that applies to the particular issue. You need to look for legislation (also known as Statutes or Acts of Parliament), case law (i.e. previous decisions, such as Donoghue v Stevenson (1932)) and sometimes EU and international law as well. 3. A is for APPLY You should apply the rule/rules to the facts of the case study (but without ‘re-telling the story’ or repeating at length the facts of the case study, which is a waste of word count and/or writing time, as both you and the marker have the facts of the case study in front of you.) 4. C is for CONCLUSION Once you have identified the Issue and the Rule and Applied the Rule to the facts of the case study, you will be expected to give your conclusion. For a law-based assessment this often involves being asked to give advice to the parties. This should not be written in the style: “I think that” or “I believe that” or “You have a claim and you should do this.” Legal advice should always be given impersonally (e.g. “applying the principles set out in section X of Y Act, it is clear that Joe Bloggs will be able to claim Z”) The problem question and suggested answer below is intended to help you with the use of IRAC as you prepare for your final law assessment. You may also find it useful to bear in mind the following points: You should keep the structure of your answers (which should be based on known facts from the case study and on the law) clear and logical, and deal with one issue fully before moving to the next. Do not leave out the basics. For example, if there is a question about implied terms in a contract, you should briefly cover the issue of whether there is a contract or not and explain the legal rules that lead you to your opinion, before tackling the implied terms which are at the heart of the question. (A useful technique is to forget that you are writing an answer for a tutor and think about how you might explain the issues and the law to a person who has no knowledge of the law.) Make sure you identify and apply only the legal principles that are relevant to the question. (It is not uncommon for students simply to write down any law they can remember, whether or not it is relevant. The inclusion of such material in an answer can only bring your marks down.) Be specific. For example, poor answers often refer to an entire Act in vague terms (e.g. “the Sale of Goods Act says that goods must correspond with description”. Good answers refer to the relevant section or sections of an Act (e.g. “according to section 13 of the Sale of Goods Act 1979 goods must correspond with description”.) Previously decided cases (collectively known as ‘case law’) are important because they establish or confirm the legal principles which guide judges and other lawyers in understanding the law. It is very important when using case law (i.e. cases already decided by the courts) not to concentrate on the facts of the case. You should explain the legal implications of the case Show More
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The contract law is where legally binding agreement between two or more persons by which rights are acquired by one or more to act or loose something. Four elements of a contract are offer, acceptance (agreement), consideration and intention. Offer element comprises bilateral offer (promise for a promise), unilateral offer (promise for an act) and invitation to treat (invite somebody to make an offer). In bilateral offer exists when the offerer knows whom s/he is dealing with; an unilateral offer…
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The Contract Part 1: The Elements Examples: Sale and purchase contract Employment contract Lease contract Contract v agreement A contract is a legally binding agreement which is enforceable in a court of law An agreement is not necessarily a contract Elements of a valid contract Offer - A legally binding promise made by one party (the offeror) to another party (the offeree) Offers need to be distinguished from non-offers such as invitations to treat An invitation to treat is not an offer because…
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Contract Law Essay
Essay Plan Introduction: What is negligence? (Duty of care, breach of duty, causation, remoteness and defence) The meaning of each of these 5 parts which consist negligence. Clinical negligence and the difference it has with other type of negligence. (Bolam Case and Caparo v Dickmen) Bolam case V Bolitho Break down the discussion ( within the question there are 4 legal matters to consider) Body: Throat pain. The doctor according to Bolam always owe a duty…
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Law: Contract and Consideration Essay
Aspects of Contract and Negligence Unit 5 HNC/HND in Business Consideration and Intention in Contract Assignment Task Consideration must be something of value in the eyes of the law. A one sided promise which is not supported by consideration is a gift. The law does not enforce gifts unless they are made by deed. Referring to the case of Currie v Misa (1875) LR 10 Ex 15 definition of consideration is: “A valuable consideration in the sense of the law may consist either in some rig3…
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Five Elements Of Contract Law
In order to advise Buford, contract laws must be discussed. The contract between Frank and Buford is the first one to be discussed. Five elements- Agreement (offer/acceptance), Consideration, Voluntary Compliance, Capacity and Legality are must be met in order to validation of this contract. Firstly, there is a definite and communicated offer and the acceptance of that offer between Frank and Buford, as they haggle over the price and agreed. Thus, there is an offer and acceptance between Frank and…
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Contract Law Research Paper
Nature and Terminology Contract law - the formation and keeping of promises-legally binding Source of contract law-common law-except where modified or replaced by statutory law -UCC -sale or lease of goods, checks or administrative law Two parties Promissor - making the promise - PR Promissee - person to whom the prime is made - PE Contract - agreement between two parties (or more) is legally binding, agree to perform or refrain from performing an act now or in the future Objective theory…
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Researching the Law of Contract Essay
Introduction, issue – agreement to sell.
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Law is a critical element in the establishment of a stable society. 1 There are numerous laws in existence to establish normalcy within a society. These laws fall into two main classes, which include civil and criminal laws. Through the various laws formulated, individuals can co-exist while businesses can thrive. The success of the business environment hinges on the numerous contracts that exist amongst different business entities. The law of contract plays a central role in ensuring that the involved parties execute contracts effectively. A number of elements have to be functional for the law of contract to become enforceable. Some of these elements include an agreement, consideration, intention, mutuality, and legal purpose. 2 In the course of their operation, businesses have adopted the Internet as one of the mediums of market communication. In a bid to be effective, the adverts posted on the Internet should be comprehensive.The objective is to identify whether the element of agreement exists in the case study and whether the online advertising undertaken by Fred complies with the law.
There are various categories of contracts. Contracts fall in different categories based on their enforceability, formation, and performance. Additionally, valid contracts can fall into three main classes, which include enforceable, voidable, and unenforceable contracts. Voidable contracts entail contracts whereby one of the parties has the option of avoiding the requirements of the contract. Some good examples of such contracts entail those that are formed by minors. Unenforceable contracts include contracts that are not legally enforceable due to the existence of certain legal issues. On the other hand, void contracts entail agreements that did not amount to the establishment of any contract.
An example of contract based on enforceability relates to contract of sale, which refers to an undertaking between two parties whereby one party (seller) is required to supply certain goods or services to another(buyer) at an agreed amount of money either on cash or credit terms. A contract of sale exists if one of the parties (seller) agrees to transfer the product in question to the purchaser at a certain price. Contract of sale constitutes two generic terms, which include “agreement to sell” and a “sale”. For a contract to be established, a number of elements should be incorporated. One of these elements relates to agreement. 2 For an agreement to exist, a number of issues are critical. Firstly, there must be the offeror and the offeree. The offeror entails “the party making the offer while the offeree refers to the party to whom the offer has been made and a serious and objective intention on the part of the offeror must be evident”. 3 Despite the element of intention and consideration being evident in the case of Francis and Alex, one can assert that a bidding agreement between the two individuals did not exist. This assertion hinges on the fact that the element of offer and an acceptance, which constitutes an agreement were compromised. In a bid to ensure the existence of “a legally binding contract, the involved parties must have accepted the terms of the contract”. 4 Francis, the shop owner, made an offer to sell the antique comb set to Alex at $200, which is less than the marked price. On the other hand, Alex agreed to purchase the antique comb set at the offered price. However, this offer was only valid within a particular duration. Alex was required to make the payment the following day at 10 AM. Despite agreeing to the offer, he later changed his mind regarding the payment time. Consequently, he communicated to Francis regarding his change of mind through an answering machine. However, Francis did not receive the message in time; hence, he did not have an opportunity to reply. As a result, Francis did not respond regarding whether he would extend the offer to the following afternoon. Alex assumed that Francis had received the message and agreed to his terms. 5
For a particular agreement to be legally binding, acceptance must be communicated effectively to the offeror. 6 In this case, Francis and Alex were in a bilateral contract, which makes effective communication one of the critical elements. Bilateral contract underscores the promise made by the offeror and the offeree. 7 Additionally, the acceptance must be timely. Consequently, it is paramount for the involved parties to communicate by use of an authorised mode of communication. In spite the fact that Alex made an effort to communicate with Francis before the set time within which the contract was valid, Francis did not receive the message in time. Consequently, there was no legally binding agreement. Communication in an agreement is very critical. 8 The mode of communication used must be subject to authorisation by the offeror. In some situations, communication challenge might occur. In this case, Francis had not told Alex on the mode of communication to use. Alex decided to communicate using an instantaneous method. Consequently, the mailbox rule, which stipulates that an acceptance is evident immediately after the mail is deposited in the post office, does not apply. This aspect arises from the fact that Alex decided to use instantaneous mode of communication due to the situation surrounding the sale contract. The failure of the offeror to reply cannot qualify as an acceptance by the offeree, for the offer did not include a clause stipulating that silence translates to acceptance.
From the above analysis, the element of agreement cannot be established with certainty for there is no meeting of mind or mutual assent. Consequently, Alex does not have a legally enforceable contract with Francis for he changed the original terms of the contract. Any material change on the terms of the offer results into automatic termination of the offer. The material changes made to the initial offer results into counter offer. Counter offers do not require acceptance. Additionally, Francis is not under any obligation to sell the antique comb and mirror set to Alex because the elements of offer and acceptance, which constitute the formation of an agreement, did not result in the creation of a mutual agreement.
Bagley, Constance, and Savage Diane. Managers and the legal environment: Strategies for the 21 st century . Mason, OH: Cengage, 2010. Gillies, Peter. Business law . Sydney: Federation Press, 2004. Gillies, Peter. Concise contract law. Sydney: Federation Press, 2008. Goldman, Arnold, and Sigismond William. Business law: Principles and practices. Mason, OH: Cengage, 2011. Meiners, Roger, and Edwards Frances. The legal environment of business . Mason, OH: Cengage Learning, 2008. Miller, Roger, and Frank Cross. Legal environment today: Business in its ethical, regulatory, e-commerce and global setting . Mason, OH: Cengage Learning, 2010. Miller, Roger, and Jentz Gaylord. Business law today: The essentials; text and summarised cases: e-commerce, legal, ethical, and international environment . Mason, OH: Cengage Learning, 2011. Miller, Roger. Modern principles of business law: Contracts, the UCC and business organizations . Mason, OH: Cengage Learning, 2012. Piotrowski, Christine. Professional practice for interior design. Hoboken: John Wiley, 2002. Rao, Peddina. Mercantile law. London: PHI Learning, 2008.
- Roger Meiners and Edwards Frances, The legal environment of business (Mason, OH: Cengage Learning, 2008), 54.
- Arnold Goldman and William, Business law: Principles and practice (Mason, OH: Cengage, 2011), 97.
- Meiners and Edwards, 252.
- Goldman and William, 178.
- Roger Miller and Frank Cross, Legal environment today: Business in its ethical, regulatory, e-commerce and global setting (Mason, OH: Cengage Learning, 2010) 86.
- Roger Miller, Modern principles of business law: Contracts, the UCC and business organisations (Mason, OH: Cengage Learning, 2012) 104.
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- The Brush and Comb: Compare and Contrast
- The Basic Building Blocks of a Contract Analysis
- Contract Law: Offer in the Acorn Computers Case
- Contract Types: The Uniform Commercial Code
- The Elements of a Contract With Regard to Real Estate
- In-Depth Information About the Contract Instructions
- The Approach of Offer and Acceptance
- Contract That Is Legally Enforceable
- The Word ‘Antique’ New Definition
- Elements of a Contract
- Contract to Supply Scrap Metal
- Business Law: Alpha Pty Ltd and Betabond Ltd
- International Business Law: Export and Country of Origin Law
- International Business Law: Mergers and Acquisitions
- Antifraud Provisions: Definition
Conclusion Of Contract Law Assignment Plan
Conclusion Of Contract Law Assignment Plan
Planning Your Law Essay. The next step is to plan your essay: as we identified, the minimum requirements will be an introduction, body and conclusion, unless you are dealing with a report or dissertation. When you have done some research, you may wish to make a rough plan of where you intend to go with the essay. Law Essays Unless you are told otherwise, the very minimum requirements of a law essay or problem question are an introduction, a body and a conclusion. Introduction: As a very rough guide, for essay style questions, the introduction will represent about 10 of your word count, outlining perhaps a brief interpretation of the question and what you intend to cover in the essay. Recommendation and Conclusion In conclusion, Packard is able to bring action against Hewlett for selling the laptop to Compac even after an initial contract was established with Packard.
He is able to sue under Discharge of Contract by Breach and the Court will likely move possession of the laptop back to Packard after Packard pays Hewlett the $800 as agreed. In contract law, the acceptance of the offer takes place, when any letter accepting an offer is posted, not when it arrives. This is referred to as the postal rule, a precedent which was established in English contract law by the case of Adams and Lindsell (1818) 106 ER 250 (KB). “I ordered an assignment from EditAPaper to be done in 24 hours, but it was ready even earlier. Besides, the attention the writer put in my assignment is really worth paying for. A great service!” Josh rated us 5/5 “The essay I got from editapaper is well-written, without mistakes and totally covers the topic.
Those who write for this Termination of contract According to the article 29 Of the United Nation’s convention on contracts for the international sale of goods: contract may be modified or terminated by only agreement of the parties involved Conclusion So far we have discusses contracts, types of contracts and the essential elements of contract referring the statue and the relevant case, as offer, acceptance, and intention to create legal relations, consideration and capacity, we have also discusses other elements Latest Contract Law Essays Dispute Resolution Issues in the Construction Industry Published: Wed, 07 Aug 2019 Extract : Due to the complex nature of the construction industry, the majority of construction contracts will include various clauses to regain any cost that is incurred due to the faults of another party. Conclusion The conclusion is your answer to the Issue. State the result of your analysis.
Examples: “Smith is liable for negligence” or “Therefore, no valid contract was formed between X and Y.” If there are multiple issues, there must be multiple conclusions as well. The writing of law essays is challenging and can be tricky as it is different from the writing of other types of essays. In order to have a good piece of legal writing, the writer should obviously have a legal background and have the ability to demonstrate legal analysis.
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Valid Contract Essay
The topic of this paper is to establish the elements and requirements of a valid contract; it will examine the elements that make a contract valid and /or unenforceable. There are elements that constitute a contract, since there are agreements and there are contracts. Agreements unlike contract are not enforce by law, when an agreement is enforce by law it become a contract. There are also legal issues that may arise with different types of contracts. This paper will discuss the many considerations that must be established in order for said contract to be lawful and valid. It will further explain the validity of written and oral contracts and the laws that enforce them, also the fact that some contracts can be valid but not enforceable. It will also examine statues of fraud, ethical consideration, and the legal impact of technology. This paper will conclude with the enforceable features that are required by laws to make contracts valid and/ or enforceable, also suggestion to improve the laws and valid contracts statues. There are essential elements of a valid contract; initially there has to be a proposal and an acceptance. A proposal or an offer should set definite and clear terms in order to be considered a valid offer. If this offer is accepted it becomes a binding contract. The presumption or intentions of the parties involve to make said proposal legal makes it a binding relationship. Something of value must be exchange; this is considered “consideration”. If no consideration is exchange between said parties the contract is not valid or binding. There should also be mutual agreement, all parties must comprehend all vital terms of the contract and must agree to say terms, if there a misunderstanding by any of the parties in... ... middle of paper ... ... the non-breaching party for her loss(Rogers, S., 2012). In certain instance there could more than one remedy for aggrieved party, an Election of Remedies; said victim must then choose one remedy that best suits their situation. In conclusion contracts are a valid offer and a valid proposal of two or more individuals that are of sound mind and have understood all the stipulations of the legal agreement, and have offer reasonable consideration to put forth said contract. Numerous things can occur to hinder the validity of a contract. Understanding the components of contracts validity, can alleviate legal consequence. Remedies are put forth to compensate contract that have been broke or breached. Although to put forth a suit is a legal right, parties involve in a valid contract can find considerable terms on their own without having to come to a legal litigation.
In this essay, the author
- Explains the topic of the paper, which is to establish the elements and requirements of a valid contract, and the legal issues that may arise with different types of contracts.
- Explains the essential elements of a valid contract, such as proposal and acceptance, mutual agreement, and time limits.
- Explains that consideration is the focus of a valid contract. past consideration, preexisting legal duties, and illusory promises are not legally binding.
- Explains that a breach occurs when the specifics of the contract are not preformed, and there are remedies for said disputes.
- Concludes contracts are a valid offer and proposal of two or more individuals that are of sound mind and have offered reasonable consideration to put forth said contract. understanding the components of contracts validity, can alleviate legal consequence.
- Explains that to establish a valid contract, all parties involved must be of capacity and genuine assent to enter said legal agreement.
- Explains that the rule determines the obligation of all parties involved under a contract.
- explanatory
- Explains that an offer is the willingness to contract with a specific set of terms made by the offeror that if accepted that person or individual is bound by contract.
- Explains acceptance is the absolute agreement to a contract and its terms along with its offer. the contract must reflect the original offer made from start.
- Explains that accepting the terms of the contract from both parties is completed without any legal restrictions or other discrepancies.
- Explains that the exchange of goods or services is a part of the contractual agreement by both parties.
- Explains that this preventative element acts as a security to state that only the parties involved in the contract are liable to sue each other in case of breach of contract.
- Explains that when contracts are written, they include terms. each term is accompanied by different situations and rules.
- Explains that if breached as a part of the contract, it attracts serious consequences that can stop it from continuing allowing one party to sue the other for damages.
- Explains that there is a trial period of agreement and if damage occurs within that period and one party is not compensated, it may turn into law suit.
- Explains that breaches of these terms can bring a serious or trivial outcome.
- Explains that these are terms laid out by the parties themselves; no third party or outside influence.
- Explains that liquor r us hands over an employment contract to its potential employee where at start the letter stipulates a job offer outlining the amount being paid for remuneration yearly.
- Explains that on the employment contract after all the terms and conditions is a section of acceptance where the applicant must agree or disagree to accept the job offer.
- Explains that a solid understanding of what each party will gain from the signing of the document is the consideration of working for the company and following the rules.
- Explains the rules that must be followed in order to continue the contract from both parties. liquor r us outlines the disciplinary measures and the consequences if any term or condition is breached.
- Explains that no contract is active unless there are parties to sign, make/negotiate terms and conditions.
- Explains that liquor r us does not take responsibility for any outstanding bill that a customer is unable to meet. they do not stand the loss of any used goods that has been broken from out of the packages it must be paid for by the customer as stated in the contract of consignment goods.
- Explains that truck on site is a fast growing service at liquor r us as it generates most of the revenues. the customer negotiates with the sales manager about the pricing and on what budget they can afford.
- Explains that only the parties in the contract can make any claims or file lawsuits between each other.
- Explains that a condition entitles the innocent party to claim damages, rescind or terminate the contract.
- Explains that liquor r us' exclusion clause will not cover any damages that take place outside of the contract between both parties.
- Explains the different types of damages that are used in contractual terms. monetary damages come in several forms namely, compensatory, nominal and consequential.
- Opines that it is good to have a lawyer involved when signing contracts or having an legal department in the company to deal with situations of such nature.
- Recommends investigating the criminal background of the workers before hiring age, so that the firm can avoid past mistakes in the work environment.
- Recommends that both parties go over the contracts together as a notion understanding.
- Explains the importance of the essential elements required for the formation of a valid contract.
- Explains that contracts come in the form of verbal, written, face to face and have respectable impacts. when performing a contract face-to-face, the terms and conditions are tangible to both parties signing the contract.
- Explains that torts are considered wrongful acts, not including a breach of the contract, which may result in injury to another person’s property, reputation, and compensation.
- Explains that occupancy liability is the permission of allowing someone to take care and maintain a facility or property on the behalf of someone. duty of care is seen as another liability in negligence.
- Explains that liquor r us can be vicariously liable whether by the employees and customers. a company is responsible for the health and safety of their company and their employees.
- Explains that liquor r us contributes to the burning of industrial bins at the city dump, which is contributory negligence.
- Explains that the civil liability (contribution) act 1978 allows an employer to recover damages from its employee in certain circumstances. john doe was caught tampering with the goods by mixing chemicals to pour in the company’s branded bottled.
- Explains that businesses use contracts to strengthen business relationships, incorporate partnerships, and for growth. breaching a contract can lead to both serious and trivial consequences depending on what element of the contract was breached.
- Explains that contracts are a type of business tool that acts as lay away for businesses and their expansion. neglecting contracts and agreements can cause serious injury to someone’s property, reputation or livelihood.
- Explains that a contract is an agreement between two parties or more, to deliver services or products. the parties must have serious intentions, agreement, contractual capacity, possibility of performance and formalities.
- Explains that a contract starts when the other party makes an offer and then it is accepted by another party the (offeree). the court will provide an aim test to ensure that parties have reached an agreement / consensus.
- Explains that an offer creates an expression of willingness to meet the terms of the contract, once accepted by the party it is offered to.
- Explains that an offer must be differentiated from an invitation because an advertisement is displayed or goods in a shelf.
- Explains that an offer is accepted by behaviour or conduct, it has no legal effect until it is communicated to the offeror and the acceptance must be clear and unambiguous.
- Explains that a contract must be physically capable of being executed.
- Describes the formalities required for the formation of a contract. formalities must be observed.
- Describes the express terms that parties put down in the contract that is in writing.
- Explains that implied terms are not expressed but adopted as "obvious" an individual must comply with. if a product is not in good taste, the consumer has the right to return it to the owner for exchange or refund.
- Explains that if a contract is breached, the other party has the right to terminate the contract.
- Explains that misrepresentation – giving a false statement to the other party with the intentions to benefit or to exploit
- Explains that the other party can sue and take them to court of law if they cause drastic damages that cost them or affect it negatively. the court may claim that they may be paid and taken back to their original position.
- Explains that if one of the parties dies, the contract can't continue, and when the work is completed.
- Explains that a contract is an agreement between two parties in which one party agrees to perform some actions in return of some consideration.
- Explains the difference between invitation to treat and offer. the case of carlill vs carbolic and smoke ball co gives precise information about the concept.
- Describes the six elements that must be present in an enforceable contract.
- Explains that when a party to contract does not perform the task to which it is bound, it's known as breach of contract. the case of walton stores ltd v/s maher can be cited as an example.
- Explains that traynor's contract was breached due to frustration. the same situation is reflected in the case of taylor v/s caldwell.
- Narrates how the man couldn't cope with the high gas prices.
- Explains that construction work has been started between their houses, making traffic much heavier. it wastes his lot of time.
- Explains that damages bring the person back in the earlier situation by paying them the loss suffered. hevvy has not suffered any monetary loss so he can't get compensation for that.
- Explains that hevvy can claim for special performance. in this, court will get the work completed from traynor even against his wish.
- Explains the remedy of rescission was reflected in the case of leaf v/s international galleries. the aim of this remedy is to bring the plaintiff back in to his previous situation.
- Explains that an offer is a statement which contains certain terms and conditions which needs to be fulfilled by the other party in order to accept the offer.
- Explains that consideration is basically the price of a contract, and the amount paid by the offeree to offeror to carry out the contract is known as consideration.
- Explains mutuality means mutual understanding between two parties. the case of petelin v cullen gives a better understanding about mistake and non-est factum.
- Explains that a legal contract should not be made against the rules of government or society. if there is any illegal element present in the contract, it will be known as void contract.
- Explains that the parties must have the legal capacity to form a contract. mental disorder, intoxication, minors, and so on are covered in the concept of capacity.
- Explains mortgage over real property as a security against loan. the right to use and possess the property remains with the mortgagor only.
- Explains that security interest is paid by a mortgagor to mortgagee until the debt is repaid. if he can't pay it back, the lender can take legal action against him.
- Describes the attachment and enforceability of collateral and its interest, proceedings, and requisites. failure to pay the interest will lead to the transfer of title.
- Explains that the land registration act 2002 governs the provisions of the mirror principle.
- Explains that grantee is the person who receives something in the sale of land. the rules governing the laws of granter differ from state to state.
- Describes the elements of an analysis of a business situation where the validity and potential breach of contract are to be considered.
- Analyzes the ramifications of the contractual conflict to the new relationship of john dow and marshall peterson, and the potential impacts on marshall's exploration of his faith.
- Explains that marshall peterson has invested a significant amount in advertising, and growing his business of offering the muscadine grapes that john doe’s company supplies to him.
- Defines implied covenant of good faith and fair dealing as a general presumption that the parties will deal with each other honestly, fairly, and so as to not destroy the right of the other party or parties to receive the benefits.
- Explains that for mr. peterson to invoke promissory estoppel, there are certain criteria that need to be met.
- Explains that the fundamental issue in this case is whether or not there was a valid contract in place.
- Explains that a legal offer is an offer that shows objective intent to enter into the contract, is definite, and is communicated to the offeree.
- Explains that legal acceptance is an acceptance that shows objective intent to enter into a contract and mirrors the terms of the offer. john doe was not aware of such offer, and he was only conducting business by way of individual requests and invoices.
- Opines that john doe should investigate whether or not mr. peterson was acting in a fraudulent manner, or using undue influence by presenting the requirements document to his minor son instead.
- Explains that john doe, an owner of a local produce company, produces muscadine grapes that are known to contain high antioxidant qualities.
- Explains that different types of contracts can be classified in different ways. the law recognizes that the legal contract must be verbal, written or mixed.
- Explains that the law defends the interests and rights of all participants in the contract. the parties should approve and know the terms and conditions and make sure that are agreed with them.
- Introduces atiyah, p., an introduction of the law of contract, 5th edition, oxford university press. isbn: 0-19-825953-0.
- Explains cooke, j., low of tort. 3 rd edition. pearson professional ltd. isbn: 0 273 62710-4.
- Explains the purpose of this report to estimate the thoroughness of each of the four statements mentioned below. each statement is explained individually and the elements of tort of negligence and defences are applied in the mentioned scenarios.
- Explains that to have a successful negligence action mark should prove some things. there are four elements of negligence.
- Explains that if someone hurts someone else, the duty of care is to the first one.
- Opines that every organization should have rules and a good manager with qualified and responsible employees. the legislation protects both the rights of owners and visitors alike.
- Explains that cooke, j., low of tort. 3 rd edition. pearson professional ltd. isbn: 0 273 62710-4.
- Explains that the united kingdom has three legal systems: english law applied in england and wales and northern ireland law applied. a contract is a written agreement with terms and conditions.
- Explains the difference between the two types of contracts.
- Explains that tort is a civil wrong related with the individual rather than the state. the elements of tort of negligence are duty of care, breach and damages.
- Explains that the tort of negligence and defences and the elements of vicarious liability are important part of the law.
- Explains that mark can't claim for his designer swimming trunks because of the occupiers' liability act.
- Explains that a valid contract is an agreement including promises made between two or more parties with an intention of certain legal rights and legal responsibility that are enforceable.
- Explains that offers are the promise made by the offeror and must be distinguished from invitation to treat.
- Explains that an agreement because of this advertisement is not amount to an offer, so emma decides to meet the shop owner tony to discuss this transaction.
- Explains that the counter-offer is a new offer made by the original offeree and an alternative proposition to the offeror.
- Explains that acceptance is the offeree agreeing to an offer made by offeror, and it must be absolute, unqualified and unconditional (cannot be add condition).
- Explains that consideration is an aspect of the concept of mutuality underlying the law contract, and each party in contract bargains with and gives in exchange for return promise or performance of other party.
- Explains that intention is a concept in contract law, and it is also called intention to be legal bound. in this case there is no family or domestic relationship between emma and tony.
- Concludes that although there is legal intention to create between emma and tony and a valid consideration, the contract still not be established because the agreement between them is not existed.
- Explains that classical contract law requires offer and acceptance for a contract to become binding. however contracts are formed in different ways for each different circumstance.
- Defines offer as a clear statement of terms on which the offeror is prepared to do business with the person(s) to whom it is communicated.
- Explains that carlill v carbolic 256 is the most frequently cited case of constituting an offer as it represents many different situations which apply to a wide variety of cases.
- Explains that this case holds the legal principle that offers can be addressed to the general public and are accepted when the offer is acted upon by a member of the public.
- Illustrates that advertisements can be treated as unilateral offers, rather than invitations to treat.
- Explains that advertisements generally fall into two categories: unilateral contracts (as seen in carlill) and bilateral contracts.
- Explains that an invitation to treat is defined as encouragement to make an offer, usually by advertisement of some kind.
- Explains that unilateral offers require no acceptance other than performance, so anyone who performs the conditions accepts it, just as mrs carlill did when purchasing the smokeballs. elias lj followed the dicta of bow
- Explains that the court stated that any use of the smokeball would promote sales and be of value to the company. since carlill, there have been issues involving whether an offer was made, and the issue surrounding the offer.
- Explains that acceptance has developed since carlill v carbolic. this requirement of complete performance was emphasised in daulia v four millbank nominees ltd.
- Explains that contracts and agreements have many key differences. a contract is an agreement between two parties that is legally binding.
- Explains the role of a contract clause in defining the duties, rights, and privileges that each party has under the contract terms and conditions.
- Explains the four requirements for a valid contract that are legally binding: agreement, consideration, contractual capacity, and legality.
- Explains that consideration is the value specified in return for a promise, which implies why each party is entering into an agreement in the first place.
- Explains the various forms of contracts in the business industry. written and oral contracts take place between customers and companies each day.
- Explains that the team discussed the various contracts used in the workplace and how the contract laws are applicable.
- Explains frito-lay's bilateral and unilateral contracts, which deal with sales, promotions, incentives, and rebates as the company conducts business with the customer.
- Explains that promotional contracts help identify items that will be advertised and placed on sale in weekly flyers. an allowance is offered to lower the cost to the customer who may sell the product at a discount price to draw in the consumer.
- Explains that unilateral contracts consist of one promise and one performance which initiates a second promise. incentives imply some reward for selling product at or above the threshold based on percentage of growth.
- Explains that growth rebate contracts are the most common for a salesperson to use as they engage the customer into selling more of our products over the competition.
- Explains that michelle is an employee of tube-mac industries, a non-welded hydraulic piping systems company.
- Explains how a customer initiates the sale of projects by calling or emailing project salesmen in the office. the salesman asks questions regarding the current piping situations on the machinery the customer is calling in reference to.
- States that an implied contract is one in which the agreement is reached by the parties’ actions rather than their words. the customer initiated the services by contacting the salesman and sending the requested information.
- Explains that bebe previously worked as a transportation broker and engaged in many common contracts daily. the primary responsibiliy was matching the appropriate truck and trailer with customer’s shipments.
- Explains that after finding the appropriate trucker, the customer would be contacted for request of shipment, fax (load contract) the additional information (physical address of both origin and destination) about the shipment.
- Explains that after receiving a contract from the customer, it is faxed to the driver, providing all necessary detail discussed, negotiated, and agreed previously via telephone.
- Explains that the company (assignor) engaged in assignment contracts (transferring current rights to a third party) several times daily. the company was in breach of the contract with customers.
- Explains that the team seems to have good knowledge of common contract and contract laws because of the experience in the business environment. however, a few areas of difficulty exist.
- Explains how frito-lay, tube-mac industries, or a transportation brokerage operate from sales contracts because sales generate revenue. team a used diversity of workplaces to better educate one another about contracts and contract laws.
- Explains that the postal acceptance rule dates back to 1818 when it was established in a court case of (adam v lindsell).
- Explains that the postal acceptance rule does not honour the revocation of an offer by the offeror.
- Opines that the postal rule on electronic mails would eliminate business uncertainty and create a precise time regarding contract conclusion.
- Explains that email is a non-instantaneous mode of communication and is subject to delay. delays in sending and receiving mails may arise from network failures, typing of incorrect email address of the intended recipient, technical failure, hacking by third parties.
- Concludes that the nature of the postal rule calls for separation of parties by time and distance.
- Cites bryne & co v. leon van tiehoven and co. no. lr 5 cpd 344.
- Explains gardner's "a deconstruction of the postal rule in contract".
- Opines that email contracts-when is the contract formed. hill, simone w.
- Explains the electronic formation of contracts and the common law: "mailbox. baylor law review.
- Analyzes yamaguchi, mikio's study on the problem of delay in the contract formation process.
- Explains that the universal principle to contract law has always been parties may get into an agreement in whatever way they deem fit and subject to certain terms as they choose.
- Explains that the postal acceptance rule was developed to facilitate contracting at a distance.
- Explains the logic behind the postal acceptance rule, which was coined with an attempt to provide the offeree some degree of assurance when accepting an offer by post.
- Explains that the postal rule is an obstacle to fairness in contract law as it is biased to the offeree.
- Explains that the postal acceptance rule was developed for non-instantaneous means of communication back in the 19th century.
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According to the Sam Houston State University, general principles of contract law include legality, intention, contractual capacity, agreement, consideration and genuine consent. Because the law requires contracts to be recorded, SHSU regar...
Vitiating elements of contracts are things that make a contract void, and the existence of such elements invalidate and negate the full terms of the legal document, according to the Social Science Research Network.
The law is important because it serves as a norm of conduct for citizens and residents. It acts as a guideline for acceptable behavior, and ensures equality within communities and social groups by an outline for the consequences of law viol...
A Conclusion of a Contract · The significance of the term to the maker of the statement makes it a term. · If the individual making a statement had a special
CONCLUSION. Contract law has helped to improve the business and trade by merchants. If the contract law wouldn't be implied there would be many
Conclusion of a Contract. Info: 2110 words (8 pages) Essay Published: 7th Aug 2019. Reference this. Jurisdiction / Tag(s): UK Law.
Conclusion. To summarize, laws are an essential component of contemporary society as they help to establish trustworthy relationships between
Absolutely FREE essays on Contract Law. All examples of topics, summaries were provided by straight-A students. ✍ Get an idea for your paper.
the facts of the case study, you will be expected to give your conclusion.
Introduction · Issue – Agreement to sell · Rule · Analysis · Conclusion · References · Footnotes.
Conclusion Of Contract Law Assignment Plan Planning Your Law Essay. The next step is to plan your essay: as we identified
In conclusion contracts are a valid offer and a valid proposal of two or more individuals that are of sound mind and have understood all the stipulations of the
That's the specific view about that area of law, case or piece of legislation which you are trying to prove throughout your essay. The first
The IRAC method is a framework for organizing your answer to a business law essay question. The basic structure is: Issue, Rule, Analysis, and Conclusion.