THERE ARE 7 ELEMENTS WHICH ARE REQUIRED FOR THERE TO BE A VALID CONTRACT. LIST AND DISCUSS THEM AND SAY WHAT HAPPENS IF ANY ONE OF THE ELEMENTS IS MISSING. All agreements are not contracts. A contract is a legally binding agreement between two or more parties. An agreement that is not enforceable by law is not considered a contract. There are many elements that are required for a contract valid‚ offer and acceptance‚ intention to create legal relationship‚ capacity of the parties‚ consent‚ consideration
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Elements of a Contract Bus 670 Legal Environment Abstract In order for a contract to be valid‚ it must meet certain standards. Contracts can be formed by two parties for multiple reasons‚ but must hold up to the same standards in court to be valid. The first element of the contract is the offer. The offer is very important because it is where the contract initializes‚ and is presented to the offeree by the offeror (Mallor et al.‚ 2010‚ p. 307). The second element is acceptance. In this
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Elements of a Contract Angelique Gares BUS670 Legal Environment Professor Roger Amos May 24‚ 2010 . This paper is a study of the Element of a Contract detailing the essential elements that constitute a legal binding agreement. A contract can be defined as an agreement between two or more persons for example‚ individuals‚ organizations or government agencies and or business‚ to do‚ or to refrain from doing something in exchange for something of value. The text states “to qualify as a contract
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Performance and Breach of Sales Contract Performance and Breach of Sales Contract Quynh Nguyen Upper Iowa University BA 302: Business Law Instructor: Paul Croushore Jun 3‚ 2009 Sales Contract: A sale occurs when there is an exchange of goods or other property from the seller to the buyer for money. In order to create in each party a duty to do or not to do something and a right to performance of the other’s duty or a remedy for the breach of the other’s duty‚ we need to set up a contract. Obligations
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Critique on “Damages” as a remedy for breach of contract under Indian‚ American‚ English and Chinese law. Project: Law of Contracts [pic] |Submitted to: |Submitted by: | |Prof (Dr.) Amar Singh | | |Principal Faculty‚ |Dheerak
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Elements of the law of contract Catharine MacMillan Richard Stone 2009 LLB 2650040 Diploma in Law 2690040 page 2 This subject guide was prepared for the University of London External System by: University of London External System Catharine MacMillan BA (Victoria) ‚ LLB (Queen’s‚ Canada)‚ LLM (Cantab)‚ Lecturer in Law‚ School of Law‚ Queen Mary‚ University of London and Richard Stone LLB (Soton)‚ LLM (Hull)‚ Barrister‚ Professor and Head of Law‚ Lincoln Law School‚ University of
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09811599587 THE INDIAN CONTRACT ACT‚ 1872 CHAPTER 1- NATURE OF CONTRACT The law of contract is that branch of law which determines the circumstances in which promise made by the parties to a contract shall be legally binding on them. All of us enter into a number of contracts everyday knowingly or unknowingly. Each contract creates some right and duties upon the contracting parties. Indian contract deals with the enforcement of these rights and duties upon the parties. Indian Contract Act‚ 1872 came into
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ZAMBIAN OPEN UNIVERSITY SCHOOL OF LAW COMPUTER No. 21110141 LARRY HORE NJUNGU BACHELOR OF LAWS (LLB) COURSE: CONTRACT LAW (LL 12) LECTURER: GREENWELL LYEMPE ASSIGNMENT No. 2 SECOND YEAR‚ 2ND SEMESTER MOBILE: 0977 666160 CONTACT ADDRESS: PLOT 3601/4‚ MAPEPE ROAD‚ OLYMPIA PARK‚ LUSAKA TASKS: (i) Purpose of contractual remedies and whether they serve their intended objective (ii) Relationship between agency and principal (ii) Misrepresentation in
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A contract is a "promise" or an "agreement" that is enforced or recognized by the law‚ whether implied or expressed. There must be an agreement‚ which consists of an agreement‚ an intention to create legal relations‚ and consideration. A contract is said to come into existence when acceptance of an offer has been communicated to the offerer by the offeree. An offer is an expression of willingness to contract on certain terms‚ made with the intention that it shall become binding as soon as it is
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Essential elements of Contracts BUS 670 Legal Environment Instructor: Mark Cohen 09/26/2011 Essential elements of Contracts All contracts share some common elements. A contract starts when an offer is made‚ certain requirements need to be satisfied to ensure the agreement is legal‚ in particular a capacity of parties to contract has to be proven‚ the legal purpose of the agreement and the satisfaction of consideration‚ before the offer is accepted. Contracts have common elements in their
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