Introduction The purpose of this assignment is to present our knowledge of the laws of contract and the various legal principals arising in each case. Explaining and applying the 4 basic elements of a valid contract as well as other aspects of contract including capacity to enter a contract, the postal rules, contractual terms implied and express, relevant law relating to discharge of contract, remedies for breach of contract, types of damages recoverable and remoteness of damage. There are 3 different cases
Words: 1825 - Pages: 8
Mailed on 23/12/13 BRIEF DISCUSSION ON CONTRACT ACT- 1872 According to Section 2 (h) of the Indian Contact Act, 1872, "A contract is an agreement enforceable by law”. A contract therefore, is an agreement the object of which is to create a legal obligation i.e., a duty enforceable by law. From the above definition, we find that a contract essentially consists of two elements: (1) An agreement and (2) Legal obligation i.e., a duty enforceable by law. As per section 2 (e) "Every promise
Words: 15180 - Pages: 61
Contracts -- INTERNATIONAL COLLEGE OF BUSINESS AND TECHNOLOGY -- 14 ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS Individual Assigment -Stephani Jayarathne- BTEC EDEXCEL HND DIPLOMA IN BUSINESS (MANAGEMENT & HUMAN RESOURCES) OFFERED BY INTERNATIONAL COLLEGE OF BUSINESS AND TECHNOLOGY ASPECTS OF CONTRACT AND NEGLIGENCE FOR BUSINESS STEPHANIE JAYARATHNA BMK 31 ICBT KANDY CAMPUS SUBMITED TO: MRS KANCHANA LIYANAPATHIRANA 2013/07/21 Acknowledgement. It is with great
Words: 1799 - Pages: 8
Elements of the law of contract Catharine MacMillan Richard Stone 2009 LLB 2650040 Diploma in Law 2690040 page 2 University of London External System This subject guide was prepared for the University of London External System by: u Catharine MacMillan BA (Victoria) , LLB (Queen’s, Canada), LLM (Cantab), Lecturer in Law, School of Law, Queen Mary, University of London and u Richard Stone LLB (Soton), LLM (Hull), Barrister, Professor and Head of Law, Lincoln Law School
Words: 24271 - Pages: 98
The postal rule (of acceptance) is the fifth and last of the relevant sub-rules affecting communication of acceptance. It can be summarized as, “If, and only if, the postal service is an acceptable method of communication between offeror and offeree, a letter of acceptance takes effect immediately upon posting, rather than upon receipt, and acceptance is therefore taken to have been communicated (to the offeror) at the time of posting the letter.” The rule itself was established in the 19th Century
Words: 2068 - Pages: 9
Course: Name Valid Contract Yours Name Professor’s Name [optional] University Elements for a Valid Contract to exist A valid contract does not need to be legally valid, it can be written in simple English and fulfill the needs of all the parties involved in that contract. Although, a contract may not be legal but it should be a written contract so that future issues can be settled on the basis of the written agreement signed by the parties (Rousseau, 1993). For a contract to be legally valid
Words: 1010 - Pages: 5
to offer and acceptance. In order to advise Chris it is necessary to consider the law relating to offer and acceptance. Chris placed the following advertisement in the ‘Antiques Monthly’ magazine on Monday; “Rare 18th Century Long case clock by Ticker for sale £15,000 or nearest offer”.Within contract law relating to offer and acceptance we need to assess whether this advertisement is an offer or simply an invitation to treat.An offer must not be vague and must be capable of acceptance as in
Words: 1503 - Pages: 7
legally binding contract between Couch Taters (CT) and King Korn (KK), it is important to establish the offer and acceptance of this business transaction to accurately evaluate its existence and extent. To do so would require a chronological analysis of the exchanges between both parties. The first exchange between Homer (H) of CT and KK has KK quoting a price and H acknowledging it but requiring his superior’s approval. To establish a legally binding contract, we would need first for an offer to be made
Words: 804 - Pages: 4
an implied contract you will need to start with the idea of an express contract. With the thought of an express contract there is going to be any binding agreement between two people or parties. They need to know, understand and intend when cross the threshold of an express contract. This kind of contract will provide both parties who are involved will promise to do a particular agreement. The legal elements of an express contract are 1. An offer by one party and acceptance by another
Words: 663 - Pages: 3
Offer and acceptance Offer is by proposer and acceptance is by agreement or conract for example i would like this to sell you for RM10.00 it's become statement and agreement can be vorbal but contract can't be vorbal.Consideration is exchange of things. The definition of offer is, an offer is an exprication of willingness to be bound by the term of the contract and also it can be made to one person (bilateral) or two group of person all to whole world at large (unileteral). A bileteral offer can
Words: 518 - Pages: 3
