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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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 to
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Contract: enforcing bargains made between parties. Requirements for a valid contract • AGREEMENT between the parties • Requirement of CERTAINTY – terms of the contract/what’s going to happen during the life of the contract • INTENTION to create legal relations (formal agreement where they expect the law to be involved) • CONSIDERATION (giving each other party something of value which underlies promise they are making) AGREEMENT: (bargain negotiated between two parties) Looking at it objectively:
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Without offer and acceptance there can be no contract and so it is essential that the law provides rules to identify what constitutes both an offer and an acceptance. An offer may be defined as a statement of willingness to contract on specified terms made with the intention that‚ if accepted‚ it shall become a binding contract. An offer may be express or implied from conduct. In many cases it is crucial to determine when and where a contract is actually formed and this too needs rules. In the vast
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Retirement Plans Heidi G. HRM/ 324 July 13‚ 2015 Professor Retirement Plans Retirement is often the topic of many US workers during the end of their employment years. However‚ the topic of retirement is most important during the first years of employment. By law‚ an individual can collect retirement funds from three different sources! There are many retirement options available to both employees and the employers and to make the best decision one must have a basic understanding
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Lindsell it established the postal rule which stated‚ acceptance is effective on posting‚ this means in some situations where a letter of acceptance was by post‚ the acceptance will be effective at the time and place of posting even if the offeror has no knowledge of this. The issue in the case of Susan and Manesh is whether the postal rule applies. In the case of Quenerduaine v. Cole it stated where an offer was made by telegram and acceptance by post‚ it was not seen as reasonable that the postal
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answering machine recorded Bill’s message stating that he wished to withdraw his acceptance. On Monday Alice opened Bill’s letter‚ which arrived that morning‚ and then played back the message on the machine. Advise Alice.’ Introduction Begin by exploring what topic the question is talking about so in this case the question is talking about how Bill has revoked his acceptance. Define the term revoke his acceptance. Main Body Argument for the point that there is a contract that has been bound:
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When doing a business‚ a contract is usually needed. Since a contract is an agreement‚ therefore‚ for a contract to exist‚ the parties must assent to the transaction. Assent usually takes the form of offer and acceptance. An offer is defined by Treitel as "an expression of willingness to contract on certain terms‚ made with the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed"‚ the "offeree". In addition‚ an offer is a statement of the terms
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Business Law: Offer and Acceptance. For a simple contract to be valid one party must make an offer and the other party accept it. An offer is made where a person (the offerer) unequivocally expresses to another (the offeree) his willingness to make a binding agreement on the terms specified by him if they are accepted by the offeree’ (Card 2002). This offer could be made to a specific person‚ in which case it cannot be accepted by anyone other than that individual. On the other hand it could
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Bibliography: http://en.wikipedia.org/wiki/Offer_and_acceptance http://www.positivelyyoursinc.com/spiritually-inspiring/simple-spiritual-concepts/the-law-of-acceptance-and-divine-order/ Business Law‚ ( LAW 3235) ‚ prepared by Azza Isma Moideen‚ ( Manual for Internal Circulation Only)
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