Unilateral contracts require that only one party make a promise that is open and available to anyone who performs the required action, like collecting the reward for finding a lost car. This sometimes applies to advertisements to an extent. Some contracts are: 2) Bilateral contracts work differently because it requires two parties enter into an agreement where both parties promise to do something. However, the elements of either contract remain the same: - Offer by the promisor - Acceptance by the
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A report about law of contract Prepared for: Mr. John M. Andre (Lecturer) Prepared by: TA THI KIM CHI – Pr. Camilla ID: FO5 - 032 Table of Contents 1. The importance of the essential elements required for the formation of a valid contract 2 1.1 Offer 2 1.2 Acceptance 3 1.3 Consideration 3 1.4 Intent to create legal relations 4 2. The impact of different types of contract 5 2.1. Written contract 5 2.2 Oral contract 6 2.3 Implied contract 6 3. The meaning and
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A contract is an agreement between parties, with terms and conditions that describe the agreement, that constitutes a legal obligation. Contracts provide the means for individuals and businesses to sell and otherwise transfer property, services, and other rights. The four elements of a valid contract are agreement, consideration, contractual capacity, and lawful object, in order for a contract to be enforceable all four of these requirements must be
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circumstances: if the goods were the type which the business would ordinarily buy and sell; if the good were bought to be sold at a profit; or if there had been some regularity in the company buying goods in question. When you buy goods you form a contract between the buyer and the seller which
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Example, when a company is doing their advertisement with a given reward, he must intend about the contract. If the company do not state the duration for the advertisement, for the people opinion is that the offer is still open. To make the contract exist between the company and the buyer is when the buyer uses their product even without informing the company about it. 2.) Consideration Both of each party must provide something
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advertisement. Generally, ads are not offers but invitations for offers. Advertisements include sales promotion and offers intended to the recipients in the form of direct marketing, or sponsorship. The law calls these advertisements to the general public an invitation to make an offer on a particular item. Since the ad does not embody an offer, then a contract between the two parties doesn’t exist because offer and acceptance must be present to qualify as an offer. This situation does not qualify
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ESSENTIAL ELEMENTS OF THE CONTRACT. 4 1.1.1. Agreement 4 1.1.2. Consideration 5 1.1.3. Intention to create legal relation 6 1.2: IMPACT OF DIFFERENT TYPES OF CONTRACT 6 1.2.1. Face to Face 6 1.2.2. Written contract 7 1.2.3. Distance Selling 7 1.3. ANALYSIS OF TERM IN CONTRACT 8 1.3.1. Condition 8 1.3.2. Warranty 8 1.3.3. Innominate term 9 1.3.4. Express 9 1.3.5. Implied 10 1.3.6. Exclusion Clauses 10 2.1. APPLICATION OF ELEMENTS OF CONTRACT IN 1ST SCENARIO 10 2.1
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Topic: Electronic Contracts – Issues and Challenges Electronic Contracts – Issues and Challenges Introduction: Electronic contracts (e-contracts) are governed by the basic principles provided in the Indian Contract Act, 1872 applicable to regular contracts, which mandates that a valid contract should have been entered with a free consent and for a lawful consideration between two adults. Electronic contracts are not paper based but rather in electronic form and are born out of the need for speed
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Action: Silence as acceptance Material Facts: Donald Bell, President of Bell Microproducts extended and offer of employment to George McGurn, for position of Vice President for the eastern region. McGurn said that id her worked for Bell, he required a written contract that included a termination cause stipulating that he would receive six months salary and half of his commissions in the event he was fired. After several discussions with an official, Bell extended an offer of employment to McGurn
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Research background * Research Question * Hypothesis * Target group * Problem statement Chapter 2 Employee contracts & Guest contracts * Legal issues present * Authorities that check contracts and agreements Chapter 3 Plan of action * Implementation of the STEM Concept * Strategy to come to a solution * Suggested incorporated contract agreements Chapter 4 Conclusion Chapter 5 Recommendations Executive Summary The hotel industry is currently growing
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