revocation of offer by post is effective due to the lapsed of time. Section 4(3)(a) of the Contract Act 1950 defines that the communication of a revocation is complete as against the person who makes it, when it is put into a course of transmission to the person to whom it is made, so as to be out of the power of the person who makes it. Proposal can be withdraw by communicating the notice of revocation by the proposer to the party to whom the proposal was made. Revocation of offer by post is
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The Open Offer Miller and Hollowell states, in general contract law the moment a definite offer is met by an unqualified acceptance, a binding contract is formed. The common law rule is that an offeror can specify a particular means of acceptance, making that means the only one effective for contract formation. Nevertheless, unauthorized means are effective as long as the acceptance is received by the specified deadline (acceptance). A sale is officially defined as “the passing of title from
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disputes regarding the contract would be handled. Yarner sent back an acknowledgment of the order and provided a clause stating that all disputes must be submitted to arbitration. Terra kept the acknowledgment and didn’t object to the arbitration clause. ISSUE: The first issue is wether, under New York law, the acknowldgement that contains an additional term is binding. The second issue is wether, under New York law, the contract was altered materially making the contract unenforceable. RULES:
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collateral contract was made. A collateral contract is the consideration which leads to the making of the main contract. It is a contract separated from the main contract but related to it. Yvonne’s promise to fit high quality tyres on the car is a term of contract because this promise leads to Marcel entering into the main contract with Yvonne. Thus, a collateral contract was made in order for Marcel and Yvonne to enter a contract with each other. Another issue is that whether the contract is fully
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LAW EXTENSION COMMITTEE WINTER SESSION 2012 CONTRACTS SAMPLE OF AN ANSWER TO A PROBLEM QUESTION QUESTION Alan is a tenant of a home unit owned by Bill. Ten days ago Alan received a letter from Bill in which Bill stated that he (Bill) was ‘interested in selling’ his flat and asking Alan to ‘let him know’ if he (Alan) was willing to buy the home unit for the price of $450,000. Three days later Alan posted a letter to Bill in which he agreed to buy the home unit for the price set out
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Breach of Contract - A contracting party’s failure to perform an absolute duty owed under a contract. Covenant – An unconditional promise to perform Duress – A situation in which one party threatens to do a wrongful act unless the other party enters into a contract Executed Contract – A contract that has been fully performed on both sides; a completed contract. Injuction – A court order that prohibits a person from doing a certain act. One year rule – A rule which states that an
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case it would be a voidable contract because the law allows that party to withdraw from the agreement if there is misrepresentation or fraud occurs in the contract. For example, Billy wanted to a refund from the shop owner because he gave wrong information to Billy as the GEZZ watch was made in Switzerland but actually made in China. Elements that take place in this case are offer, acceptance, intention to create legal relation, and consideration. 2.0 Offer According to (Quinn
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there are bunches of people standing in front of the door which are angry, obscuring it. Issue: can the people who already have a gold ticket redeem the car? Decision: under these circumstances, Delicious Hamburgers Restaurant wants to round off the contract with Extreme Printers and will sue them for damages. Reason: the Extreme Printers make a mistake so caused Delicious Hamburger being engaged in a drawn-out lawsuit from numerous customers demanding a car. PART A
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there a valid contract between Betty and Art? Formation For there to be a contract, there must be an offer, acceptance and consideration. Offer Issue: Whether there was a valid offer between Betty and Art? Under the restatement §24, an offer is the manifestation of willingness to enter into a bargain, so made as to justify another person in understanding that his/her assent to that bargain is invited and will conclude it. In determining whether there is a valid offer, courts apply
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between acceptance and counter offer. STEP 1 INTRODUCTION • First, you have to define the keywords in the question. Define acceptance and counter offer. STEP 2 GENERAL PRINCIPLES OF LAW • Explain the relevant general rules ie sections and cases, the most appropriate to your question. • Explain section 2(b) of the Contracts Act 1950 that relates to what acceptance is. • Explain section 3 of Contracts Act 1950 which tell you on how to communicate an acceptance.
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