Esssay
Introduction
Law comes to taken effect when a contract is formed between parties such as consumer and company or business to business or between family and or friends. In this report we will analyze the seven criteria for a contract to be effective in Singapore which will help to protect the interests of the innocent parties and to ensure justice will be accorded to the parties not adhering to rules. 1. Offer
Offer is a definite agreement made with intention to be bound when offer is fully accepted by both parties. Vague offers are usually not good enough to be taken into considerations for a contract to be bounded. There is a need to distinguish and differentiate between an offer and invitation to treat. Invitation to treat is defined as an invitation to someone to make an offer for a product or service. There was once a case where the offeror offers to buy the horse if it was Lucky was held by courts to be too vague and hence concluded as there was no offer being made. [1]
Acceptance
Acceptance is defined as fully agreed to all the terms and conditions of the offer, which means the offer is to be accepted as it is without any modifications, amendments or changes being made. In situations where modifications, amendments or changes are being made to the offer, it will be considered as counter-offer and the first offer will eventually be considered as void. There was a famous case, W was selling property to P, a contract with acceptance copy form was given to P and P filled up the acceptance copy form with additional words added to one of the contract term in it. Thus the court held that the adding of words had caused changes to the original terms of offer and P’s action was a counter-offer, not acceptance to W’s offer. [2, 3]
Acceptance must be accepted in positive manner and not passively. Keeping silence does not indicate any acceptance of offer. There was a case, where plaintiff offered to the horse from the defendant and informed he would consider
Law comes to taken effect when a contract is formed between parties such as consumer and company or business to business or between family and or friends. In this report we will analyze the seven criteria for a contract to be effective in Singapore which will help to protect the interests of the innocent parties and to ensure justice will be accorded to the parties not adhering to rules. 1. Offer
Offer is a definite agreement made with intention to be bound when offer is fully accepted by both parties. Vague offers are usually not good enough to be taken into considerations for a contract to be bounded. There is a need to distinguish and differentiate between an offer and invitation to treat. Invitation to treat is defined as an invitation to someone to make an offer for a product or service. There was once a case where the offeror offers to buy the horse if it was Lucky was held by courts to be too vague and hence concluded as there was no offer being made. [1]
Acceptance
Acceptance is defined as fully agreed to all the terms and conditions of the offer, which means the offer is to be accepted as it is without any modifications, amendments or changes being made. In situations where modifications, amendments or changes are being made to the offer, it will be considered as counter-offer and the first offer will eventually be considered as void. There was a famous case, W was selling property to P, a contract with acceptance copy form was given to P and P filled up the acceptance copy form with additional words added to one of the contract term in it. Thus the court held that the adding of words had caused changes to the original terms of offer and P’s action was a counter-offer, not acceptance to W’s offer. [2, 3]
Acceptance must be accepted in positive manner and not passively. Keeping silence does not indicate any acceptance of offer. There was a case, where plaintiff offered to the horse from the defendant and informed he would consider
References: 1. Gunthing vs. Lynn (1831) 2 3. Hyde vs. Wrench (1840) 4 5. Meritt vs. Merritt (1970) 6 7. Re McArdle (1951) 8 9. North Ocean Shipping vs. Hyundai Construction (The Atlantic Baron) (1979) 10 11. Nash v. Inman (1908)