valid one party must make an offer and the other accept it (see: Acceptance of offer). The offer will usually indicate the form the acceptance should take (e.g.‚ in writing‚ by post)‚ and may indicate when the acceptance will be deemed to have occurred (e.g.‚ on delivery of the posted acceptance‚ see: Acceptance of offer by post). In seeking to prove that a contract was in existence‚ it will be necessary to show that there was a definite offer. Certain things look like offers‚ but aren’t always what they
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Introduction: Rules of Offer and Acceptance are applied to enforce an agreement by the law. This agreement is the first requisite of any contract of the business. In order to a contract come into being between parties‚ the offer is made by the offeror and the oferee accept that offer. In 21st century‚ there are rapid changes in business trend which create lots of new business model such as e-business and global business. The more business participates‚ the more requirements of Offer and Acceptance Rules to adapt
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intended to be legally binding”. This answer will highlight the main points to see the differences between an offer and an invitation to treat.” An offer may be defined as a statement of willingness to contract on specified terms made with the intention that‚ if accepted there will arise a binding contract”. On the other side‚ invitation to treat invites the other people to make an offer which can be accepted or rejected by the other party. To illustrate them we have to look in certain areas. First
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In this essay‚ I am going to analyse the rules of offer and acceptance and then come to a conclusion as to how satisfactory I think each of them are and why. In its general sense‚ an offer is an indication or proposal by one person or party (offeror) to another (offeree). It consists of one party promising to do or give something for the other party’s promise to do or give something in return. There must be willingness to contract on certain terms‚ made with the intention that it shall become
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contract law. Actually‚ we are signing contracts everyday. For example: Buying candies in a shop. There are two types of contract (written and verbal agreement). A contract is made by orally‚ by conduct and in writing. It also consists of an agreement‚ consideration and legally binding. There are eight elements of contract law‚ namely offer‚ acceptance‚ consideration‚ capacity‚ legal relations‚ legality and agreement. In this essay‚ I am going discuss the offer and acceptance particularly. Offer In
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elements which are acceptance‚ consideration‚ intention to be legally binding‚ capacity of the contract and finally legality of the promises.1To archive an agreement between the offeror and offeree there is a formula whereby offer+ acceptance=agreement.2An offer has to be created firstly. An offer means the indication by one person to another of his willingness to enter a contract with the other person on curtain terms.3An offer can either be written or oral example of an offer are email‚ letters
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This essay will discuss the Case study by firstly identifying four elements of contract‚ then justifying duties of Mr. Martin with applying the principles of pre-existing contractual duties. Finally a discussion about part payment of debt and promissory estoppel will be explained. Likewise‚ this essay will evaluate the knowledge of common law and agency relationship. QUESTION 1 a) Four essential elements of a contract should be Offer‚ Acceptance‚ Intention to create legal relations and Consideration
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Case Summary: -Bob owns a Jewelry store -Sam operates electronic security equipment store -Bob and Sam are friends -Monday‚ Bob held a casual conversation with Sam about fitting his store with "closed circuit television and the best available electronic locks" -Tuesday‚ Sam sent Bob a Quotation of price "Lists of models and List of price" -Wednesday‚ Bob Replied BY POST. "Choice of Supreme Model for camera" -Posted to old address‚ Sam received on Saturday and emailed on the same day "
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Business Law Case Study In the case presented‚ Biff Smith‚ the Chief of Police of the local department ordered a set of bicycles off of a local storeowner‚ Dirk Right. This was no simple order though‚ in fact Biff intended on starting a bike patrol unit within the local department. Biff went to Dirks Bicycle shop to place an order. The order was for five mountain bikes to be used for patrol so they had to be custom made in order to sport the police decals. Biff was very familiar with the Schwinn
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Legal Issues in Management Final Case Study Christine Stout Southern Oregon University Business law – case study The case study of John and Stacey has so many complicated elements that apparently all the stakeholders involved apart from the two mentioned could sue or be sued against. This paper assumes that this is the scenario for this paper. The characters involved are John and Stacy‚ a restaurant owner‚ the owner of a townhouse‚ the owner of the mink on which John tripped and subsequently
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