Contract law Essays & Research Papers

Issue “The mere existence of the core elements of offer, acceptance, and consideration will not guarantee a legally enforceable contract”. Discuss. A contract is an agreement which normally consists of an 'offer' and an 'acceptance' and involves the 'meeting of the minds' or consensus between two or more parties with the intention to create a legally enforceable binding contract. Therefore in this essay, the four core elements needed for the formation of a contract such as offer, acceptance,...

GENERAL PRINCIPLES OF THE LAW OF CONTRACT INTRODUCTION Definition  S.2(h) Contract Act 1950 : An agreement enforceable by law. Legally binding between parties.  2 INTRODUCTION (continue..)  (a) (b) Legislation governing contracts: Contracts Act 1950 English Law - By virtue of S.5 of the Civil Law Act (When there are no provisions in the Contract Act) 3 INTRODUCTION (continue..) 4 OFFER / PROPOSAL Definition  S. 2(a) Contracts Act “When one person...

Sample Contract Exercise Contracts are the bloodline of business. Thus it is absolutely crucial that you understand what you are or your business is signing. We have looked at some common clauses found in contracts like restraint of trade clauses, exclusion clauses and liquidated damages clauses. In addition to these, there are many other common clauses and the purpose of this exercise is to highlight these clauses as well. If you do a simple search in the Internet you will realize that many...

PART I. Introduction England's contract law is consisted of several laws and they can not be written or at least explained in a student's assignment, which is consisted of 1000 words. Despite that I will try to outline the main points of the contact law and explain briefly what each means. On the second point I will explain the little difference between the English contact law with the equivalent contract law of my home country which is Cyprus. I wrote "little differences " because, Cyprus is...

Introduction A contract is formed when one of the parties has to accept an offer made by the other. Here, David places an advertisement in the local newspaper of a reward, £1000 for the safe return of each of his six cats. This shows he is making an offer to all the readers of the Daily Bungle. An offer is defined as follows: “An offer is a statement of the terms upon which the offeror is prepared to be bound if acceptance is communicated while the offer remains alive1.” The critical aspect...

INTRODUCTION The law of contract is the collection of legal rules which govern contracts. These rules, in turn, are part of the law of obligations, a subdivision of the law of property which is traditionally regarded as part of private law. Private law governs the persons (legal subject) in their personal or private capacity before the law in relation to other legal subjects. In other word, private law can be defined as balance and protect legitimate individual interests. Traditionally...

EXERCISE 1: This exercise is about offer and acceptance. John, a homeowner, answers the telephone and listens to a solicitor make a five-minute sales pitch for Weed Gardening Services. John responds, “No, thank you,” and hangs up. Two days later, John returns home from work to find a crew gardening in his yard and a bill for $200 sitting on the porch. When John tells the Weed representative that he never asked for this service, Weed responds by saying, “It looks much better, doesn’t it? You...

Different approach taken by the Court of Appeal in Williams v Roffey was it fair or not? It is commonly accepted within the English Contract Law that the models of contractual fairness must exist in contractual disputes. Essential to these models is the doctrine of consideration and the principles that comes under the doctrine of consideration such as laws derived from both Williams v Roffey (1990) and Stilk v Myrick (1809). Starting with the development of the doctrine of consideration and...

Topic 3: Breach in contract 1) Breach of contract: Spanish Contract Law provides a broad notion of breach of contract for any behavior that departs from the specified behavior in the contract in any way (time, quality, substance, etc.) or is not specially justified on legal grounds (actions forbidden by the government are not breaches since they are justified on a legal ground). The general benchmark to determine breach is the contract agreed by the parties themselves, and not external...

 DISCHARGEMENT OF CONTRACT The law of contracts forms a substantial part of our various relationships that can have some sort of influence over us on an almost daily basis – even when there is no physical contract in front of us we may still be privy to some sort of contractual obligation. Alternatively, if you’re a fan of social theorists such as...

A contract intends to formalize an agreement of two or more parties, in relation to a particular subject. Contracts can cover an extremely broad range of matters including the sale of goods or real property, the terms of employment or of an independent contractor relationship, the settlement of a dispute and ownership of intellectual property developed as part of work for hire. Essential Elements of a Contract * Clear certain and communicated agreement. Meaning that the parties are...

Informal Seminar Assessment B Contract Law LA4001 In order to able to outline the contract law on capacity in the light of this statement basically means how does the contract is being issued to the lay people who has no or little knowledge about law and how does it seek to protect the interests of those making the...

Table of Contents 1.0 Introduction 2 2.0 Main Body 3 2.1 Offer & Acceptance 3 2.2 Consideration 4 2.3 Discharge of contract 5 2.3.1 Discharge by Breach 5 2.3.2 Discharge by Performance 5 2.4 Remedies 6 2.4.1 Unliquidated Remedies 6 2.4.2 Injunction Remedies 6 2.5 Intention to Create Legal Relations 7 2.6 Free Consent 8 3.0 Conclusion……………………………………………………………………...9 4.0 References…………………………………………………………………….10...

Unit 21- Aspects of contract and business law Assignment 1 - Understand the legal requirements for a valid contract Task one (p1) Identify the legal criteria for offer and acceptance in a valid contract A contract is defined as a legally binding agreement and are very important in business. This is because: * it is risky to enter into a business arrangement without some form of contract * this is because, in the event of something not going as planned, a business contract is...

Bakersfield College BSAD 18 Business Law Quiz 2 - Chapters 13 – 20. Name: ____________________________ Date:_____________________ 1. The assent of parties to a contract must be voluntary. True False 2. Assent may only be demonstrated by words. True False 3. Assent may still be present even if a party entered into a contract based on mistake. True False 4. A fraudulent misrepresentation may be used to show that genuine assent was lacking in a...

Contract law serves as your protection in every legal agreement you make in life. Contract law makes these agreements "enforceable", which usually means that it gives the party the power to compensate and obtain money damages caused by the other party due to a breach of contract. The contract itself creates an obligation or duties to do and rules to follow by both parties if either of the party fails to follow the agreement, remedies can be provided by law if the contract is legal and has the...

ASPECTS OF CONTRACT LAW 1) A contract by definition is a form of agreement that binds two or more parties who can involve in a legal relationship and will be bound to perform according to the terms and conditions that are agreed upon in the contract. 2) The essential elements of a contract are: Agreement: it is determined by the regulations of offer and acceptance. It is the most essential element and the very first one. An agreement is made when the offerer proposes his offer and the...

This assignment involves me: * Explaining the law with respect to consumer protection * Analysing how consumers are protected in the event of a breach of contract for sale of goods * Describing remedies available for breach of contract * Analysing the remedies available to a business provider in the event of a breach of contract for the supply of goods or services Task 1 Heep Ltd want to leave some lorries for two weeks at micawbers garage, the following morning heep received a...

Contents QUESTION -1 3 The Doctrine of Privity 3 The meaning, history and evolution of the doctrine 3 Relationship between privity and consideration 4 Privity under different laws 5 PRIVITY AND THE LAW OF AGENCY 5 Privity and Agency by Estoppels or Holding out 6 Privity when Sub-agents or Substitute agents are appointed 6 PRIVITY AND THE LAW OF PARTNERSHIP 7 Privity and the act of civil and criminal liability of partners 8 Privity and the liability for holding out 8 PRIVITY AND THE...

Payment, similar to consideration, is one of the four elements of a contract. Consideration is something of value in a contract or agreement between two parties. Both parties must be providing something of value to the other party. It is an act or promise to do (or not to do) something in return for value and the value given is enforceable. All the law need is ‘valuable consideration'. For example, if Jack has offered to pay S$10 for a hammer worth S$100, that is considered valuable...

Intro and formation of contracts . Basic Legal Contract Principles People have a right to contract – conduct is voluntary. Anything that takes away voluntariness is questionable, e.g., duress, economic duress, fraud, coercion. People have right to breach. But must place other party in the same position for which they contracted, so must pay them damages. If legal remedy does not work and P is entitled to be placed into performance, then must order specific performance. Specific...

LEGT 1710 Assignment 2 Introduction Harry (H) who is the father of James (J) is attempting to sue J for a breach in contract and is seeking damages of $30,000 which he believes is the outstanding amount that is owed to him by J. This case touches on the fundamental concepts of contract law where H can only claim damages if the formation of a valid contract between the two parties is evident via the elements of a contract, including intention, agreement, consideration, legal capacity, genuine...

CHAPTER 2: Nature and Effects of Obligations Art. 1163. Every person obliged to give something is also obliged to take care of it with the proper diligence of a good father of a family, unless the law or the stipulation of the parties requires another standard of care. (1094a) 3 kinds of prestations in obligations: • To give  real (there is some physical thing which may be the subject of possession, the delivery of which completely discharges the obligation) • To do • Not to...

The argument of frustration in contract law can be a difficult precedent to establish. Not to be confused with a contractual mistake, frustration occurs when performance is made impossible or is fundamentally changed. Generally, when frustration occurs the party suffering loss is established on whom ever provided services before the frustrating event, or to the party having already paid a deposit or owing money before frustration date. Self-induced frustration on the other hand is considered a...

Question TWO What is a "Breach of Contract"? A business contract creates certain obligations that are to be fulfilled by the people or companies who entered into the agreement. In the eyes of the law, a party's failure to fulfil an end of the bargain under a contract is known as a "breach" of the contract. Depending on the specifics of the contract, a breach can occur when a party fails to perform on time, does not perform in accordance with the terms of the agreement, or does not perform...

The existence of contract law is to prevent any sort of illegal behaviour, injustice and to clarify any confusion or misunderstanding amongst the offerror and the offeree. Everybody in this world is an offeree as we all purchase goods and services to meet our personal needs and if our expectations are not met, there is a problem which is why the contract is created for both parties to follow. However, if either of them fails to do so, then they are in breach of contract and the aggrieved party...

 Elaborating shortly on the case given, it can be seen that David, the offeror, places an ad in the newspaper Daily Bungle, in which it is responded by six different participants (offerees). Unfortunately, one of the cat, Bimmie, is injured and this made David to terminate the contract. In relation to this case, the offer and acceptance, thus the making of agreement, has been established. Offer, is when an offeror offers anything to the offeree, then the offeree makes an agreement through...

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support. Inc. Grocery, Uniform Commercial Code (UCC) Does Article 2 of the Uniform Commercial Code (UCC) apply to the contracts between Grocery, Inc. and its vendors? Do common law contracts apply? Explain your answer in detail. Your answer should compare and contrast law contracts and UCC Article 2 contracts....

Contracts Contracts are an important part of everyday life. They are an essential part of business. As a student of a business law class, I will discuss in this paper several aspects of contracts. This paper will give a definition of a contract and the essential elements necessary to form a valid contract. It will briefly discuss breach of contract and the difference between a material breach and a nonmaterial breach of contract. Examples of legal and equitable remedies available for...

Lecture 8 Law of Contract: Genuine Consent INTRODUCTION Although the contract may have the essentials of a valid offer, acceptance, legal intentions and consideration, its validity or enforceability may be affected by a number of factors. The agreement may be wanting in genuine consent between the parties. That is, although the parties may appear to have reached an agreement, it may not have been genuinely achieved because of misconduct, pressure, unfairness, or fear by those...

every day people knowingly or unknowingly Introduction Every day people knowingly or unknowingly enter into series of contracts. This may be in the form of purchasing an article from a shop or by purchasing a railway ticket or by numerous ways. In modern societies, because of increasing complexity, there has been a practice of concluding contracts in standard form. One such instance of a standard form of contract is contract of insurance. Thus, standard form of contracts are those kinds of...

 Misrepresentation Step 1. Determine whether the meaning of the representation is false or not – objective test Step 2. Three possibilities of a misrepresentation: 1) It is a term of the contract; 2) It constitutes a collateral contract; 3) Does not acquire contractual status at all. Step 3. Results: 1) Rescission of the contract; 2) Damages in tort (if the tort of deceit or the tort of negligence can be made out) Smith v Lane & House Property Corp This...

CONTRACT & AGENCY LAW END-OF-COURSE ASSESSMENT JULY 2012 PRESENTATION Submission Date : 08 Sept 2012 Question 1: Legal issues: As there are different parts to “Clause 8” in the employment contract which Julia as an employee has signed with Calypso Private Limited, we shall examine four separate legal issues. The first legal issue is whether Calypso is able to enforce part (a) of Clause 8 which states that Julia shall not be directly or...

Discussion Question 1. On 1 Jan 2009 a V and P entered a standard form contract for sale of property in SYD, with special condition that the “sale is subject to P completing the sale of his existing home in Brisbane by 1 June 2009” but no time for completion is specified and clause 29 of 2005 Standard Form is deleted. (Standard Form: completed with in 42 days of existing contract/ exchange of contract? Hence the qtn scenario means it’ll be deleted.) Is there a binding contract for SYD...

153 Chapter 12 CONSIDERATION A. Legal Sufficiency 1. Adequacy 2. Unilateral Contracts 3. Bilateral Contracts 4. Illusory Promises a. Output and Requirement Contracts b. Exclusive Dealing Contracts c. Conditional Promises 5. Pre-existing Obligation a. Modification of a Pre-existing Contract b. Substituted Contracts c. Settlement of a Undisputed Debt d. Settlement of an Disputed Debt B. Bargained-For-Exchange 1. Past Consideration 2. Third Parties C. Contracts without Consideration 1....

Contracts Cyril made two contracts. The first was to have his house painted one month from the date of the written contract. The second was for his neighbor's 1957 Ford Thunderbird. Each contract was definite and clear in all respects. As to the house painting, Cyril inquired with the painter as to when the work could begin. The painter explained that he was extremely busy and was not sure if he could fulfill the contract. Cyril flew into a rage and immediately hired someone...

1 Graduate Diploma in Law Contract Law Examination Paper DATE: 16 June 2010 TIME: AM TIME ALLOWED: THREE HOURS INSTRUCTIONS TO CANDIDATES Where questions are sub-divided, candidates should not expect the sub-divisions necessarily to be of equal weight. Materials provided: GDL Statutory Extracts (which MUST be returned UNMARKED at the end of the examination). You must answer THREE questions out of SIX Continued Overleaf OA6544 1 © The College of Law 2010...

BUS201 Contract and Agency Law Group Based Case Study Bai Kailin Q0806156 Question 1 A tender is also considered as an offer. Tenders refers to a process by which one can seek prices and terms for a particular project (such as a construction job in this case) to be carried out under a contract. The sealed offers themselves, including company information, a project outline, and a price quote, are known as tenders or bids. Since Beng Huay Construction Pte Ltd submitted the most...

On the 25 May 2010 Jack Lumber Limited (JLL) entered into a contract with lightwood Industries (LL) of the heights of the hill to sell lumber planks 10 feet long at $100 each for the next two years to LL (end 25th May 2012). LL has another contract with Deadbeat Homes to build kitchen cupboards at Deadbeat’s housing Site in Paramin for which the lumber plank are used. JLL delivered over 1000 planks during 2010 and was paid the contract price by LL. However, in January 2011 JLL announce...

In this assignment I will be giving advice to Rick’s girlfriend on whether she has a legal right to return the laptop that Rick bought for her. I will be analysing whether a valid contract was formed and who it was formed with. As Rick’s girlfriend didn’t buy the laptop and is under the age of 18 she wouldn’t be able to return the laptop as there has been no contract formed with her. However we can assume that her boyfriend is over the age of 18 and as he bought the laptop this means the...

 QUASI-CONTRACTS UNDER INDIAN CONTRACT LAW TABLE OF CONTENTS: 1. Introduction 2. Kinds of Quasi-Contracts 3. Basis of Quasi-Contacts 4. Conclusion 5. Bibliography INTRODUCTION: Sections 68 to 72 deals with "certain relations resembling those created by contract" under Indian contract act, 1872. It incorporated...

Langley Brothers, Inc Stock Registry Gina L. Brooks Unit 9 Assignment MT 311 September 6, 2010 Specific performance is the right of a party to a contract to demand that the defendant (the party who it is claimed breached the contract) be ordered in the judgment to perform the contract. Specific performance may be ordered instead of (or in addition to) a judgment for money if the contract can still be performed and money cannot sufficiently reward the plaintiff. Specific performance is...

ADVICE PROVIDED This advice deals with the issues of consideration and promissory estoppel. There are numerous definitions of consideration in legal texts, one being “‘A valuable consideration, in the sense of law, may consist either in some right, interest, profit or benefit accruing to the one party or some forbearance, detriment, loss or responsibility, given, suffered or undertaken by the other”. In relation to Rent a Tents contract with Susie the terms of the contract are that in...

To: John Doe, Senior Partner From: Noelle Milburn Date: August 2, 2010 Re: Angela Woodside vs. Doyle Construction 1. Has Doyle Contractors breached its contract with Angela Woodside? Explain your answer fully. 2. Does Ms. Woodside have to wait until after April 1, 2008 to sue Doyle Contractors for breach of contract? Explain your answer fully. 3. Assuming a breach of contract has or will occur, what remedies does Ms Woodside have after the breach? 4. What defenses might...

 SALES CONTRACT No.57/2014 Ho Chi Minh City, May 19th, 2014 The Seller: Dalat Agriculture and Forestry JSC, Vietnam Address: 39 Phu Dong Thien Vuong Street, Ward 8, Da Lat City, Lam Dong, Vietnam Telephone: +84-63-656565 Fax: +84-63-665442 Email: info@dalatgap.com Represented by: Mr. Tran Thanh Sang Position: Director The Buyer: Shoei Foods Corporation Address: Shoei Bldg, 5-7, Akihabara, Taito-ku,Tokyo, Japan Telephone: +81-33-2342345 Fax: +81-33-2672634 Email:...

ZAMBIAN OPEN UNIVERSITY SCHOOL OF LAW COMPUTER No. 21110141 LARRY HORE NJUNGU BACHELOR OF LAWS (LLB) COURSE: CONTRACT LAW (LL 12) LECTURER: GREENWELL LYEMPE ASSIGNMENT No. 2 SECOND YEAR, 2ND SEMESTER MOBILE: 0977 666160 CONTACT ADDRESS: PLOT 3601/4, MAPEPE ROAD, OLYMPIA PARK, LUSAKA TASKS: (i) Purpose of contractual remedies and whether they serve their intended objective (ii) Relationship between agency and principal (ii)...

In Trevor’s case his issues derive from the Law of Contract; the formation of such and the external circumstances that effects formation, if these circumstances in fact render it void/voidable, breach of contract and the features of acceptance. Through the appropriate study and application of case law we shall better determine Trevor’s legal position. A contract denotes an agreement of two parties on the grounds of a set of obligations that must be honoured by both sides. These...

 Bachelor of Commerce Bridging Kaplan Higher Education Academy – Murdoch University Name: Florence Low Poh Geok Program / Intake: BCom27 Module: Commercial Law Lecturer: Daniel Theyagu Student ID: 32736209 Program Manager: Hazel Ong / Ang Kang Ling Total Words Count: 1998 Question 1A The legal point in question is whether Leila advertisement constitutes a binding contract and that she go can back on her promise of paying the reward $50 to Julie for returning the gold chain and...

SAMPLE ASSIGNMENT ON INTRODUCTION TO MALAYSIAN LAW OF CONTRACT Select a hire purchase contract and compare the contract with a normal contract. By AhmadRawi The writer can be contacted at scholars.assist@gmail.com By AhmadRawi The writer can be contacted at scholars.assist@gmail.com INTRODUCTION A contract is an agreement between two or more persons (individuals, businesses, organizations, or government agencies) to do, or to...

Recognizing Contract Risk and Opportunities Memo LAW 531 February 25, 2011 TO: Span Systems Management FROM: DATE: February 14, 2011 RE: Recognizing Contract Risk and Opportunities Memo In the last few months, Span Systems and C-S have been undergoing negotiations to address the issues brought forth by C-S regarding delivery and quality of goods. The relationship with C-S is beneficial for Span Systems to continue the working relationship with C-S. Below are the legal...

Part A The main issues are whether or not the court would consider that the restrictive covenant in issue is void for contrary to public policy. The relevant legal principles are: A covenant must be no wider than is necessary to protect the legitimate interest of the employer. Attempting to stifle competition is impermissible and it is irrelevant that the employer taught the ex-employee everything he knows. The court area particular to prevent contracts, which seek to prevent an...

Assignment 1. Main legal problem for Sugar: Formation of contracts, Delayed acceptance. Source of law, Danish Contracts Act § 4, 2. Sugar sends out an acceptance on 6th June which is within the acceptance period. Due to a mistake from the post office, the acceptance does not arrive until 14th June. According to Danish Contracts Act §4,2, Mokka is bound by the offer, as Sugar is in good faith, thinking that the acceptance has arrived in time, and Mokka have not contacted Sugar. If Mokka...

THE MAİN DİFFERENCES BETWEEN CIF AND FOB CONTRACTS UNDER ENGLİSH LAW CIF contract is that when the seller has delivered the goods or provides them afloat. He has to perform the contract by tendering conforming documents to the buyer. The significant feature of a CIF contract is that performance of bargain is to be fulfilled by delivery of documents and not by actual physical delivery of goods by the seller. 1 2 FOB contract can be described as a flexible instrument. Because, the buyer...

1. Was there a legally valid contract (or enforceable promise) formed? a. Offer and Acceptance i. Offer 1. Intention to be bound 2. Definiteness of Terms (i.e. lack of indefiniteness) 3. Reasonable Person Standard (Objective Test): Would a reasonable person construe the offer as an offer? 4. Termination of Offers a. In General b. Lapse of Time c. Death or Incapacitation d. Revocation ii. Acceptance 1. In General 2. Intention to be bound 3. Timeliness: The Mailbox Rule 4. Silence as Acceptance...

Contracts Review Common law majority Rule UCC Article 1 & 2 (transaction in goods)- usually same as majority common law except in a few areas Significant minority rules- will be on test and are there to fool you. DO NOT CHOOSE! 34 Contracts MCQ * 60% Offer and Acceptance (6-8 Qs), Conditions (6-8Qs) and Remedies- UCC and Common law (6-8 Qs) * 40% - 1-2Qs on the following areas * Consideration * 3rd party beneficiaries * Assignments and delegations *...

COLATERAL CONTRACT Collateral contract is a concept which has gradually evolved since its inception. However, collateral contract has been applied in a limited fashion in Australia, compared to other jurisdictions. In this essay, I will argue that collateral contract has outlived it usefulness and currency in legal practice in Australia. To remain current, the broadening of its application is essential. To support my argument, I will discuss: • The concept of collateral contract; •...

2.1 Definition of Proposal/Offer Section 2(a) of the Contract Acts 1950 provides that: “when one person signifies to another his willingness to do or to abstain from doing anything, with a view to obtain the assent of that other to the act or abstinence, he is said to make a proposal”. Eg: Ali advertised in Malay Mails that he will give a reward of RM100 to anyone who finds his pet. He signified his willingness to do an act, which is to pay a reward, upon certain terms, with a view of...

Question: Nur Aini, a highly stressed-rich widow, was enticed into joint a group as a Way of Life (PAWOL) by Alias,the leader of the group. Alias promised Nur Aini that by transferring, all her wealth to him, he would ensure that she is cleansed of all evil and would not be burden with any worldly problems. Believing his words, Nur Aini transferred all her wealth to Alias and stayed together other followers. Two years after joining the group, Nur Aini realized that she had been tricked into...

A SMALL NOTE ON LAW OF CONTRACTS. The Essentials of The Indian Contract Act, 1872 Law of Contracts is the most important branch of Mercantile Law without which it would be difficult to carry on any trade or business in a smooth manner. Further, in the course of the discussion that follows, one will learn that the law of contract is applicable not only to business but also to all day to day personal dealings. In fact, each one of us enters in to a number of contracts from sunrise to sunset....

Illegal Contractual Terms and Restraints of Trade in Contracts When dealing with contract law, many problems can arise. There can be illegal terms in the contract or it can just be void. There are restraints on trade which include limiting employees from competing against their employers post employment and so on. Throughout this essay, these restrictions will be analyzed. The difference between illegalities, voids and restraints will be presented, along with cases to provide examples....

Breach of Contract: 1. How the contract was allegedly breached, 2. What defenses may be available to the defendant, and 3. What remedy (or remedies) may be available to the Plaintiff. Charlize Theron has settled the $20 million breach of contract lawsuit against her, according to papers filed in Manhattan Federal Court Monday. The suit was filed last year, when Swiss watchmaker Raymond Weil claimed that Theron had worn a Christian Dior watch during a press event in 2006, despite being...

 CHAPTER 11 NATURE AND CLASSES OF CONTRACTS CHAPTER OUTLINE A. NATURE OF CONTRACTS 1. DEFINITION OF A CONTRACT general rule. A contract is a legally binding agreement. Stated another way, "a contract is a promise or a set of promises for the breach of which the law gives a remedy, or the performance of which the law in some way recognizes as a duty." (Restatement, Contracts, 2d) study hint. The essence of a contract is that (1) by mutual agreement (2) parties create...

 LS311: Business Law - 01 Professor: Toni Starcher Assignment 4: Acceptance of Contract Bottom of Form Magida Taracena Andonie 24/03/2014 In this case scenario we are looping for what makes up a legal contract and when a person is obligated to respect that contract. Carrie Only offered to sell the set of legal encyclopedias to Antonio for $300. Antonio said that he will think about the offer and that he will let...

Contract Classification | Basis of Defect | Status of Contract | Legal Effects | Prescriptive Period | Ratifiability | A.Rescissible1. Contracts entered into in behalf of wards 2. Contracts agreed upon in representation of absentees 3. Contracts undertaken in fraud of creditors a. existing credit prior to the contract to be rescinded b. fraud on the part of the debtor c. creditor cannot recover his credit in any other manner 4. Contracts which refer to things under...

Chapter 1: Negotiating Delivery 1. The five steps in Negotiating Delivery. To deal with problems arising if there is a delay or if delivery is not as planned the Buyer and the Seller should negotiate delivery systematically. That means making sure all foreseeable problems are discussed and approaches to solving such problems are agreed. An overview of the five negotiating steps is suggested to simplify discussion of the ideas and to avoid problems: Timing, Location, Transport,...

Table of Contents Introduction 1 Contracts in Restraint of Trade 1 Case 1: Wrigglesworth v. Wilson Anthony 4 Case 2: Svenson Hair Center Sdn Bhd v. Irene Chin Zee Ling 6 Case 3: Shanghai Hall Ltd v. Town House Hotel Ltd 8 Case 4: Polygram Records Sdn Bhd v. Hillary Ang & Ors & Anor 10 Case 5: Pertama Cabaret Nite Club Sdn. Bhd. v. Roman Tam 12 Case 6: Nagadevan Mahalingam v. Millennium Medicare Services 14 Case 7: Thomas Cowan & Co Ltd v. Orme 16 Case 8: Schmidt Scientific...

Business law 2nd term report 7/24/2011 Raja Haseeb Amjad LETTER OF TRANSMITTAL July 24, 2011 Institute of Business Management, IoBM. Mr, Muhammad Ali, Course instructor Business Law, IoBM. Sir, Here is the report you asked me to prepare during the 1st portion of the business law course that is based on the study conducted up till date. The report is ready for your perusal. For any query do contact. Sincerely, Raja Haseeb Amjad (2007-1-10-7981) Acknowledgement...

DISCHARGE Written by Mardi Szantyr Discharge of a contract refers to the way in which it comes to an end. Contracts can come to an end in the following ways: 1. by performance 2. by agreement 3. by frustration 4. by breach Each one of these methods of discharge will be considered. Discharge by performance The contract comes to an end when both parties perform their contractual obligations. Performance must substantially correspond with what the parties agreed allowing for...

Introduction Marshall and his wife have been introduced into a Sunday school class I am teaching. He is discovering his faith in Christ and has shared in conversation that he owns a small business that could benefit from one of my products. After striking an implied business deal with Marshall, our companies begin to flourish with the recent interest in the benefits of Muscadines. As business continues to flourish, Marshall takes it upon himself to secretly coerce my 17-year-old son into...

Business Law | Contract Analysis | Westwood College | Eric Givens 2/12/2013 | Contract Analysis A contract is a legal document between two or more parties. There are several elements that are necessary in order to make a contract enforceable. The specifics of these various elements may differ from state to state, but all seven of the elements must be present in order for the contract to exist. As such, if one of these elements is missing, a contract can be voided and the...

DISCHARGE OF A CONTRACT Normally the completion of a contract is straightforward as parties carry out their tasks as required. There are four main different ways of ending a contract: a) Discharge by performance b) Discharge by agreement c) Discharge by breach d) Discharge by frustration DISCHARGE BY PERFORMANCE For this the courts expect performance to be exact and complete. This means that it must match contractual obligations RE MOORE AND LANDAUER (1921) If requiring a contract...

Breach of Contract BUS311: Business Law Instructor Katheryne Rogers 3/18/2011 Breach of Contract Breach of contract can happen by a party intentionally breaching the contract or because of unexpected delays. In this paper I will discuss the contract my brother had with an in home appliance sales company. My brother and his wife purchased all of their appliances for their new home from an appliance company. The written agreement was that payment for the appliances was to be made upon...

A stranger to a contract can’t sue…!!!! Submitted by:- Ankit Bhardwaj 091004 M.B.A. III sem. The basic answer to this question is ‘NO’, as the following literature supports and explains this fact effectively. A contract is an agreement between two or more parties that creates an obligation to do or not to do something. The parties...

Voidable contract is a contract that has legal effect and force when it is made, but is liable to be subsequently annulled or set aside by the courts through the process of recission. Due to the section 10 of the Contracts Act provides, all agreements are contracts if they are made by the free consent of the parties competent to contract. As what i’ve been thought and my understanding, there are five causes which lead to the voidable contract. They are : 1. Coercion (S.15) 2. Undue influence...

Contracts Part II Rachel Wellman Unit 5 Case Study Business Law November 6, 2010 Millie contracted to sell Frank 10,000 bushels of corn to be grown on Millie’s farm. Due to a drought during the growing season, Millie’s yield was much less than anticipated, and she could deliver only 250 bushels to Frank. Frank accepted the lesser amount but sued Millie for breach of contract. Can Millie defend successfully on the basis of outcome impossibility of performance? Explain. Discuss the...

Essential Elements of a Contract “A contract is an agreement that can be enforced in court. It is formed by two or more parties who agree to perform or to refrain from performing some act now or in the future.” (pg 208) Recently I was faced with a situation regarding a contract that was not in writing and I had to explain that as long as a verbal contract contains the four essential elements of a contract it is binding. We are so accustomed to seeing contracts in writing that many people...

1. Introduction Breach of contract is when one or both parties, who came to a mutual agreement, do not fulfil their contractual agreement i.e. interfering in the other party’s performance or non-performance by one or both parties. These are only two of the possible five forms of Breach of Contract. The five types of Breach of Contract will now be discussed in detail. 2. There are five different forms in which Breach of Contract can take place: a. Default of the debtor (mora debitoris) i....

DEFECTIVE CONTRACT is a valid contract which lacks legal sufficiency due, for example, to incorrect or incomplete following of a required or statutory procedure, and may not be enforceable by the courts. Four Classifications of Defective Contract : 1. Rescission Contract Declaration or clearly communicated intention by a party to a voidable contract that it is exercising its right to terminate (rescind) the contract. It is an irrevocable step that frees the other party as well from its...

The issue here is whether the purchase agreement entered by Mr. Cheong Fatt and Maniam is voidable by virtue of Sec. 17(b)? In order for a contract to be executed properly, it must be done in favour of Sec. 10, 13 and 14. Sec. 10 prescribes that an agreement in a contract if it done with the free consent of parties for a lawful consideration and with a lawful object. The word “consent” here is defined based on Sec. 13 where two or more parties agreed in the same sense and for an agreement to be...

Citation Reed v. University of North Dakota, 1999 ND 25, 589 N.W.2d 880 Facts: The defendant Reed was on the hockey team at the University of North Dakota. Part of his training regimen was to compete in a 10-kilometer race for charity. Close to 200 yards from the finish line, he collapsed from dehydration. He was then rushed to the emergency room only to be faced with a kidney transplant and two liver transplants. Issue(s): (a) Was Reed’s oral commitment and letter of intent to play...

CONTRACT LAW PRACTICE ESSAY 1 Gertie places a notice in the trade journal ‘Mung Monthly' saying that she would pay £2000 against a ‘wood nymph' Mung vase with its authenticity certificate. The question is to know whether Gertie's proposal is an offer and could lead to a contract . The notice in the trade journal stays a proposal to the public. This proposal could amount to an offer if it is intended to result in a contract, if the...

ETHICS IN CONTRACTS Abstract: When creating a contract, a negotiator is not only doing so to reach an agreement between two or more parties, but to create an agreement that is durable; whereby parties of the contract are legally bound and committed to its promises . “A legally binding contract is defined as an exchange of promises or an agreement between parties that the law will enforce, and there is an underlying presumption for commercial agreements that parties intend to be...

Contract Liability Contract Liability Findings Software developer, Span Systems and a German Bank, Citizen-Schwarz AG (C-S) decided to collaborate in a contract to fulfill a project. The project is one-year long and is worth $6 million. Span Systems experienced late deliverables and quality issues, which affected the project’s timeframe. Span Systems and C-S have decided to re-negotiate the contract because the requested changes affected the project’s scope. Kevin Grant, the...

Theresa booked a flight ticket with AirMalaysia to fly her from Kuala Lumpur to Melbourne on the 1st of December 2009. She has booked and paid the ticket in advance and the flight has confirmed. However, on the 1st of December 2009 the flight was cancelled and the airline was unable to give Theresa an alternative flight on same day. Consequently, Theresa was forced to put up a night in Kuala Lumpur. The next afternoon, she able to flew to Melbourne on another airline. Due to the cancellation of...

There are many advantages and disadvantages for minors' to enter into contract. Most people believe that minors' are considered incompetent. It is said that if a person does not have the mental capacity to understand a that a contract is being made or the general nature of the contract, the person lacks contractual capacity. So then why would someone enter a contract with one. That is why I would have to say the first advantage is that most minors' which means anyone under the age of 18,...

 Standard Form Contract For A Turnkey Project LAW 1000 Professor: Dr. Ashraf Elazouni Stanley Varghese 040-789-984 Introduction The Canadian Construction industry uses a set of standard form contracts to come to an agreement. The type of standard form contract chosen for the particular project depends on the requirements of the intended parties. The standard form contracts are usually used as it gives a starting point for negotiation and the language used would...

DURESS 1. Generally If one party pressures the contractual consent of another by duress the contract is voidable by that other party (See Also s 52A TPA and s 39 FTA). The common law has long recognised that duress, in the form of coercion of the plaintiff’s will through illegitimate pressure or threats to the plaintiff’s interests, render a contract voidable (Barton v Armstrong). Traditionally, the common law concept of duress was limited to actual or threatened violence to the person...

BREACH OF CONTRACT 1. 2. 3. 4. 5. Default of the debtor (Mora Debitoris) Default of the creditor (Mora Creditoris) Positive malperformance Repudiation Prevention of performance (rendering performance impossible) Default of the debtor (Mora Debitoris) Any obligation under a contract has a time limit for its performance, be it an agreed fixed period or in the absence thereof a reasonable period. If the debtor neglects or fails to perform timeously, he/she commits breach of contract. Lawyers...

 Contract of the Encyclopedias Kaplan University Ls311-04 Business Law Unit 4 Professor Strauss Case Scenario Carrie offered to sell a set of legal encyclopedias to Antonio for $300.00. Antonio said that he would think about her offer and let her know his decision the next day. Norvel, who overheard the conversation between Carrie and Antonio, said to Carrie, "I accept your offer..” Carrie gave Norvel the books. The next day, Antonio,...

Contracts II Outline Fall 2005 Professor Jean Powers Cited to Crandall & Whaley’s Contracts, 4th Edition I) Damages (227) A) Introduction (227) 1) General Rule – Contract damages should put the π in as good of a position as if the contract was fulfilled. 2) No action on a contract need be present for damages to be proper. An executory contract will suffice. B) Measuring Expectation Damages (229) 1) Expectation = Expected Value + Costs – Expenses Mitigated 2) Repair Theory – Damages...

A Collateral contract A collateral contract is one where the parties to one contract enter into or promise to enter into another contract. Thus, the two contracts are connected and it maybe enforced even though it forms no constructive part of the original contract. According to Lord Denning MR in the case of Evans & Sons Ltd v Andrea Merzario Ltd [1976] 1 WLR 1078 a collateral contract is ‘When a person gives a promise, or an assurance to another, intending that he should act on it by entering...

Defective Contracts Contract Classification Basis of Defect Status of the Contract Legal Effects Prescriptive Period Ratifiability A.Rescissible There is damage or injury either to one of the contracting parties or to a third person. Valid Considered valid and enforceable until they are rescinded by a competent court. The action for prescription may prescribe. NO 1. Contracts entered into in behalf of wards 2. Contracts agreed upon in representation of absentees 3....

Running head: WRITTEN CONTRACTS 1 Written Contracts Javier Garza Grantham University WRITTEN CONTRACTS 2 Written Contracts Paula orally agrees to work with Next Corporation in New York City for two years. Paula moves her family and begins work. Three months later, Paula is fired for no stated cause. She sues for reinstatement or pay. Next Corporation argues that there is no written contract between them. What will the court say? Oral...

A type of contract, a legally binding agreement between two parties to do a certain thing, in which one side has all the bargaining power and uses it to write the contract primarily to his or her advantage[1]. Breach of Contract Common Breaches of Contract When any contract is made an agreement is formed between parties to carry out a service and payment for that service. If one of the parties fails to carry out their side of the agreement then the party can be said to be in breach of...

Discuss the grounds of void contract under Nepalese Contract Act by illustrating the cases. Any contract which is not enforceable by law is said to be void. A void contract is one which has no legal effect whatsoever owing to the fact that a transaction which is void. Even if they satisfy some of the conditions of a valid contract, they are not enforceable. In the eye of law such contract is no contract at all. There are some contracts which have been declared as void by section 13 of Nepalese...

TOPIC THREE: LAW OF AGENCY * Nature and Creation of an Agent * Duties of an Agent to his Principal * Duties of a Principal to his Agent * Termination of Agency Contract NATURE OF AGENCY What is an agency? Section 135 of Contract Act 1950: “Agency is the relationship which subsists between the principal and the agent who has been authorized to act for him or represent him in dealings with others.” There are two types of agency contracts:- 1. Contract between...