ASPECTS OF CONTRACT AND NEGLIGENCE OF BUSINESS Task: 1.1: Explain the importance of the essential elements required for the information of a valid contract? Offer A valid offer identifies the bargained-for exchange between the parties and creates a power of acceptance in the party to whom the offer is made. The communication by one party known as the offeror to the another party called the offeree b) Acceptance To constitute a contract‚ there must be an acceptance of the offer
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QUASI-CONTRACTS UNDER INDIAN CONTRACT LAW TABLE OF CONTENTS: 1. Introduction 2. Kinds of Quasi-Contracts 3. Basis of Quasi-Contacts 4. Conclusion 5. Bibliography INTRODUCTION: Sections 68 to 72 deals with "certain relations resembling those created by contract" under Indian contract act‚ 1872. It incorporated those obligations which are known as "quasi contracts" under English
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Formation of contract The green van Hubert’s initial e-mail is merely an invitation to treat‚ demonstrating only a willingness to negotiate rather than an intention to be bound by acceptance. The response from Philip to Hubert’s preliminary enquiry about the green van is‚ however‚ clearly an offer. There is intention to be bound by acceptance‚ demonstrated by the expression “when do you want it?”‚ combined with identification of the essential elements – the price (£30‚000) and the subjects (the
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Contract is an agreement between two or more competent parties in which an offer is made and accepted‚ and each party benefits. No contract can come into being unless the following features exist: an actual offer‚ an acceptance‚ consideration (this means that each party will contribute something of a material value to the bargain) and an intention to create legal relations. The agreement can be formal‚ informal‚ written‚ or just plain understood. (a) For a contract to exist the offer must be made
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Terms The content of a contract are made up of terms (or ‘clauses’ as they are called in the case of written contracts) which may be express or implied. The express terms are the terms which the parties actually stipulated for themselves when making the contract‚ whether orally or in writing. In addition to the express terms‚ the courts sometimes‚ for a variety of reasons‚ imply certain terms into the contract. Implied terms are terms that are not expressly stated in the contract but are deemed to be
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The Drowning of Fred Looking back now‚ it was all quite hilarious‚ but at the time‚ I was in a state of sheer panic. It all began late on Saturday evening when I was doing the routine check of the old boiler furnace in our Elliot Street residence in Saskatoon. We had a suite on the middle floor of a three-story rooming house owned by the College of Emmanuel and St. Chad. Rent was dirt cheap‚ but there was a long string attached and that was the care of “Old Fred.” the ancient boiler furnace in the
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Potential Energy Potential Energy is a type of energy that does not involve motion. It is the energy that is stored up. The more work done to change an object’s position or shape‚ the more potential energy it has. For example‚ a person on a ladder has more potential energy than a person on the ground because they have done more work to get up there. Kinetic Energy Kinetic Energy is the energy of motion. The more work an object has done‚ the more kinetic energy it has. the amount of kinetic
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Concerning the nature of students‚ I believe all children are not born with the same level of intelligence‚ but all children have the capacity to learn. I do not think that children are born entirely good or entirely bad. A child is influenced by his surroundings‚ and models his behavior to match the people closest to him. Knowledge is relative‚ and the level of success a child achieves in school is directly correlated to the amount of support and encouragement he or she receives at home. Public
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be a spy or trying to sabotage our country”. However‚ not all Japanese-Americans took kindly to this intrusion of their basic liberties. For example‚ Fred Korematsu refused to go to the
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ARGUMENT AGAINST MARGINALISM The discussion on price theory during the first half of the 20th century that would later be known under the term “full-cost controversy” had its debut with the publication of the aforementioned article by the Oxford-based economists Hall and Hitch (1939). In their work‚ entitled “Price Theory and Business Behaviour”‚ they presented the results of a survey accompanied by interviews among 38 firms‚ of which 33 were in the manufacturing business. The large majority of the
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