www.ccsenet.org/jpl 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
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consideration of the acceptance‚ however in order to understand in depth a binding agreement‚ we must first discuss‚ what determines a contract or binding agreement. These can be defined as “an agreement which the law will enforce” as well as a “promise or set of promises which the court will enforce”. To facilitate a binding agreement‚ an acceptance must occur and must be absolutely unconditional so that the contract may be considered as valid. As mentioned‚ the acceptance plays quite the role in
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the requirement in order for it to be established. They are offer‚ acceptance (agreement)‚ consideration and intention. * Definition: Agreement – Is formed when an offer is made and accepted. * Communication: Must be communicated * Except in the case of a unilateral contract. * Two types of Communications: * Instantaneous * Non-Instantaneous Main Body: * Definition of Acceptance: “Acceptance is a final and unqualified expression of assent to the terms of an offer”
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Of The Communication‚ Acceptance And Revocation Of Proposals. Of The Contracts‚ Voidable Contracts Ad Void Agreements. Of Contingent Contracts. Of The Performance Of Contracts. Of Certain Relations Resembling Those Created By Contract. Of The Consequences Of Breach Of Contracts. Sale Of Goods. Of Indemnity And Gurantee. Of Bailment. Agency. Of Partnership. CHAPTER I OF THE COMMUNICATION‚ ACCEPTANCE AND REVOCATION OF PROPOSALS CHAPTER I OF THE COMMUNICATION‚ ACCEPTANCE AND REVOCATION OF PROPOSALS
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Errington v Errington ; Parker v Clark ; Riches v Hogben ; Wakeling v Ripley ). 2. An offer must be clear‚ unambiguous‚ and have sufficient precision in order to eliminate the need for further negotiation. 3. An offer must be capable of acceptance and create a power of acceptance in the offeree. 4. An offer is only effective from the moment it is communicated. 5. Revocation of an offer
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The matters for legal consideration involved in case one include: 1) Did negotiations give rise to an offer and acceptance? 2) Was the revocation of the counter-offer by Michael effective? 3) Did consideration pass between the parties? 4) What remedies are available to Boris for breach of contract? Case One - Application of the Law Offer and Acceptance For an agreement to be legally enforceable there must be an offer by the offeror to be bound by certain terms. This
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got "cold feet" and wanted to back out of the deal even after signing the contract. To determine whether parties have an enforceable contract‚ you must be familiar with two basic concepts of contract law: the Statute of Frauds and the concept of acceptance. The Statute of Frauds Every state has a law known as the "Statute of Frauds‚" which requires certain contracts to be in writing in order to be enforceable. Included in the North Carolina Statute of Frauds are certain long-term leases and all
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bearer. 5. Where the instrument is addressed to a drawee‚ he must be named or otherwise indicated therein with reasonable certainty. DIFFERENT KINDS OF BILL OF EXCHANGE: 1) TRADE ACCEPTANCE – a bill of exchange drawn by the seller of goods on the buyer for the purchase price and accepted by the buyer. 2) BANK ACCEPTANCE – a draft drawn on and accepted by a bank. 3) DRAFT – a bill of exchange payable on demand‚ an order for payment of money drawn by one individual on another. 4) INLAND BILL OF EXCHANGE
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Factors influencing Chinese youth consumers’ acceptance of mobile marketing Tao (Tony) Gao‚ Fareena Sultan and Andrew J. Rohm Marketing Group‚ College of Business Administration‚ Northeastern University‚ Boston‚ Massachusetts‚ USA Abstract Purpose – The purpose of this paper is to examine factors affecting consumers’ acceptance of mobile marketing in China. Design/methodology/approach – The authors draw on technology acceptance and uses and gratifications theories to develop a conceptual model of
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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 following the English system concerning laws. The English contract Offer and Acceptance General principles There are three basic essentials to the creation of contract which will be recognised and enforced by the courts. These are: contractual intention‚ agreement and consideration. The Definition of Offer. This is an expression
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