Contract = an agreement between two or more persons which will be enforced by a court of law *Action for breach of contract is part of common (judge-made) law *Essence of contract law is to protect the bargain bw 2 parties *Must not engage in conduct that is misleading‚ unconscionable and unfair. 1. Formal contracts Contracts of record (court records) Contracts under seal (ie deeds‚ gratuitous comments) 2. Simple contracts In writing Evidenced in writing No requirements SIMPLE ROADMAP Intention
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Contract: a legally enforceable agreement General Rule (GR) for an agreement to be legally enforceable‚ following requirements must be satisfied: 1. There is an agreement between the parties (2 or more persons) 2. The parties intended to create legal relations 3. Each party has provided consideration‚ that is‚ paid a price or made a promise GR for an agreement to be formed: 1. One person (the offeror) has made an offer 2. Another person (the offeree) has accepted the offer 3. The offeree
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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 signifies
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gratuitous promise Seppelt & Sons v Commissioner The use of the word “offer” is not conclusive Carlill v Carbolic An offer can be made to the whole world. Unilateral offers may require communication of the acceptance after the consideration Felthouse v Bindley Silence is not acceptance Empirnall Holdings v Machon Where an offeree‚ with a reasonable opportunity to reject the offer of goods or services‚ takes the benefit of them under circumstances which indicate they were to be paid for‚ the tribunal of
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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 consensus
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Assignment 1 Common Law By: Tita Amalia V. 1. Jonathan and an international business transaction Two parties reach agreement on the terms of the sale of a product from one party to the other. The agreement was written and signed by both parties in the presence of their lawyers. a) Do the parties have a valid and enforceable contract? Before a contract is formed‚ there must be agreement consisting of offer and acceptance‚ intention to form a contract‚ and consideration. Without
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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
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Unit 5: Aspects of Contract & Negligence for Business | By Abdul Mir: FCS#307035 | Mark & Jodie Jones | Contents Task 1: Formation of a Contract 3 Offer & Acceptance 3 Acceptance 3 Modes of acceptance & E-Contracts 4 Consideration 4 Intention to Create Legal Relation 5 Capacity to contract 5 Blue Chip v Evershed 5 Task 2: Exclusion & Limitation Clauses 6 Contractual Terms 7 Conditions 7 Warranties 7 Innominate Terms 7 Advantages&Disadvantages
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Mr Balfour was a civil engineer‚ and worked for the Government as the Director of Irrigation in Ceylon (now Sri Lanka). Mrs Balfour was living with him. In 1915‚ they both came back to England during Mr Balfour’s leave. But Mrs Balfour got rheumatic arthritis. Her doctor advised her to stay‚ because a jungle climate was not conducive to her health. As Mr Balfour’s boat was about to set sail‚ he promised her £30 a month until she came back to Ceylon. They drifted apart‚ and Mr Balfour wrote saying
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THE RISK OF EARTHQUAKES FROM HYDRAULIC FRACTURING IN THE UK – KEY STAKEHOLDERS PERCERPTION 1.0 Background On the 1st April 2011‚ a magnitude 2.3M earthquake was recorded near the town of Blackpool‚ UK and this was followed on the 27th May 2011 by a second seismic occurrence of measuring 1.5 on Richter scale. These two events occurred close to Preese Hall drilling site‚ where Caudrilla Resources was extracting gas from a shale deposit using a new method called Hydraulic Fracturing‚ often referred
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