Journal of Politics and Law Vol. 4, No. 1; March 2011 Clarification of Rules of Acceptance in Making Business Contracts Dr. Md. Abdul Jalil Associate Professor of Law Department of Business Administration, Faculty of Economics and Management International Islamic University Malaysia (IIUM) E-mail: abduljalil@iiu.edu.my, abd_jalil2@yahoo.com Abstract Business firms and Business corporations enter into thousands of contracts everyday. Making a formal and written contract is very important for
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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
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Issue- Did an offer exists, which the plaintiff accepted? Rule of Law- Invitation to treat. An invitation to treat is not an offer in itself but is an invitation to others to make an offer. Discussion- according to the case, Tom placed an advertisement in the Motor Sports Magazine. Advertising to the public at large. The advertisement stated that the car was for sale, not that the seller would sell to all comers. Chris however saw the offer and was interested in taking the offer stated
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success of this assignment. Executive Summary In this report it states that all aspect of contract and negligence of for business. Some of main aspects of contracts where further elaborated and discussed for the convenient of the viewer, some of those questions are definition of a contract, what a valid offer is, what postal rule is and so on. On the other hand this report it discuss the parameters of contract and all relevant topics underneath are covered by proposing solid analysis and evaluation
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[Introduction] Naiker wants to purchase a second hand piano and Ahmad posted an offer on Monday 2 June by letter to Naiker but his offer was delayed by postal strike. Upon receiving Ahmad’s offer on Thursday 5 June, Naiker wants to seize the opportunity and wrote back an immediate letter of acceptance to Ahmad on Friday 6 June. However, Naiker’s letter of acceptance was delayed again and only reaches Ahmad on Monday 9 June. In the meantime, when Ahmad did not receive any replies from Naiker and
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SHOULD THE POSTAL RULE BE DISCARDED? The “Postal Rule”, commonly known as the “Mailbox Rule” is a principle of contract law. This rule is different from the others, though, as it forms an exception to the general principles of the communication of acceptance. It originated in the English case of Adams v. Lindsell, in the year 1818. The postal rule in England states that a contractual offer, when sent by post, is considered accepted when it is sent-as opposed to when it is received by the receiving
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The postal rule is a historical ruling, which came about in a time where the main and quickest form of business communication was by post. Through the decades other forms of communication have been invented which are now much speedier – telex, phone , fax and now instant messaging and email. Central requisites to the forming of a contract are those of offer and acceptance. The general rule in law states that acceptance is communicated, and has been received by the offeror . The ruling applies where
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legal issue The legal issue is whether agreement of Sam and Matt is valid to form a legally enforceable contract. STEP 2: Explain the rule(s) of law with reference to relevant authority. To form a legally enforceable contract, agreement, intention and consideration are the three main elements. If one or more of the elements are not established then no contract is deemed to exist at law (Monterosso 2014). The elements of intention to be legally bound and of agreement are assumed to exist. The
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is complete, however, it is questionable when the completion of the acceptance of communication take place either at 11.00 a.m. when Betty left message or at 4.30 p.m when Usop get the message from Betty that showed by Fatimah. Is there is valid contract between Betty and Usop? In situation between
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is not yet formed Lau Brothers & Co v China Pacific Navigation Co. -negotiations for the delivery of logs were conducted through series of telegrams and letters. Whilst still in the negotiating stage, the D withdrew. - was there a binding contract between the two parties? The court held: - the parties were still in a state of negotiation and no agreement was formed. Therefore, the D was justified in withdrawing. (2) Counter offer Hyde v Wrench (1840) * The D offered to sell his
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