First of all, I will introduce the origins of contract law in business law. Secondly, briefing the basic requirement of the formation of a contract such as offer because to understand an offer is the first step in the formation of a contract. As well, states others formation of the contract: an intention of the parties, acceptance, legality, capacity and consideration roughly. The supporting example of cases will be given.
Furthermore, I will explain how to determine the formation of a contract (conditional acceptance will not form an agreement).Then state the status as a term. Moreover, in the main body, I will generally talk about what are the terms of the contracts. Also, I will state the effect of signing a document.
In addition, I will list the terms can be classified as conditions, warranties or intermediate (or “innominate” terms) terms. Furthermore, I will describe the different categories of these three terms of the contract and their different effects. Moreover, I will explain the distinction between these three different kinds of term (conditions, warranties, intermediate or innominate) in a contract and identify these three terms by giving the supporting details to assists the understanding of the passage.
Firstly, I will define the conditions clearly and discuss what kind of the remedies available for the breach and using the example of cases to illustrate this term, explain and state the held of the cases Poussard v Spiers and Pond (1876) or other cases. Then, describe what warranties are and explain also what remedies might available for the breach by using the example of cases to illustrate this term, indicate and list the held of the cases Bettini v Gye (1876) and other cases will be given in the assignment. As well, explain the reason of the term -intermediate or “innominate” terms has been recognized and how to determine the term. Also, discuss what kind of the remedies will be available for it by using the example of cases to