Offer The first element in a valid contract would be offer. An offer or a promise or an agreement needs to be in contract because if there is no offer than there will be no contract. In the Contracts Act, 1950, the first elements in a contract would be offer. It is one of the elements to make sure that the contract is legally valid or acceptable. In a contract, it is very important that a party would make an offer. There is a difference of offer between an advertisement and an option. To make an
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environment of business and employment | | BFL0041 | Student Number | | Tutorial Group No | | Taught by (Tutors Name) / Supervisors Name | U1257644 | | D | | Jackie lane | Course | | Assignment Title | Accountancy and finance | | Contracts in business | Unless you have been notified otherwise, this coursework must be submitted through turnitin by 11.59PM on the given hand-in date.It is YOUR responsibility to print Assignment Coversheets for manual submissions. You are advised to
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Law Sachini Tharaka Talpe Liyanage Student number: 18532068 La Trobe university (Dandenong) Question 1 I. In this scenario, the issue is whether the advertisement on the notice board constitutes an offer or only an invitation to treat. An advertisement can either be an offer or an invitation to treat and it is based on intention of the parties. Vladimir’s shopping complex Managing Agent was just inviting people with the notice on his behalf. He only lease limited number of shops, as
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What is a contract? A contract is an agreement which is enforceable by the court of law. For a legal contract there has to be an offer and its acceptance. “Acceptance occurs when the party answering the offer agrees to the offer by way of a statement or an act. Acceptance must be unequivocal and communicated to the offer or the law will not deem a person to have accepted an offer merely because they have not expressly rejected it. Some modifications to the rules of offer and acceptance have been
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the procedures for dispute resolution. 1.1 VARIATION. This is when parties by mutual agreement modify or alter the terms of a contract. It involves definite alteration as a matter of contract or contractual obligation of parties in mutual agreement and must be supported by consideration in some cases. Variations clause must be indicated in the original contract and must be in writing. Variations take place when there is a change in the original terms especially, the scope of work, design, material
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CONTRACTS Stages in the life of a contract: 1. Preparation/Generation 2. Perfection/Birth 3. Consummation/Death Characteristics of Contracts: (ROMA) 1. Relativity (Art. 1311) 2. Obligatoriness & Consensuality (Art. 1315) 3. Mutuality (Art. 1308) 4. Autonomy (Art. 1306) Stipulation pour Autrui - stipulation in favor of a 3rd party. Requisites: 1. The stipulation must be part, not whole of the contract; 2. the contracting parties must have clearly and deliberately conferred
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Answer of the question Janet can sue Jack for breach of contract. Clarify the question The issue in this case is whether… List out Elements of that related topic Offer + Acceptance + Consideration + Intention to create legal relations + Contractual capacity Define the terms An offer is a definite promise or proposal made by the offeror to the offeree with the intention to be bound by such promise or proposal without further negotiation. (Srivastava, 2012) Refer the related case law
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the past, Peter has been able to negotiate good prices with Glenn. Recently, Glenn has not wanted to negotiate his price. Glenn sends an email to Peter on July 28, 2011 that reads: I have for sale 10,000 bales of cotton and I am prepared to offer it to you at the price of 24.5 cents per pound. Please let me have your reply quickly as I need room in my warehouse. On August 23, 2011, Peter sends the following email: I have a client that can use the cotton. I would be most pleased if you
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Contract Creation and Management The simulation begins in the middle of a major dispute between a software-developing company, Span Systems, and one of its customers, Citizen-Schwartz AG (C-S), a large German bank. The two companies are in dispute over the quality and timeliness of deliverables. There have been major bugs found by C-S during testing and are worried about Span not fulfilling the one-year contract, which is worth $6 million. Span's main concern is securing a larger contract with e-CRM
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A1 for breach of contract for the loss of his commission due to A1’s math error in the audit. By entering into a contract, an account implicitly agrees to perform the contract in a competent and professional manner. They need not ensure the absolute accuracy of their work, but they must exercise the care of a reasonably skilled professional. Only the math error cannot make A1 liable. However, if she breaches the contract because she didn’t finish her job on time as the contract indicating ”time of
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