Classification of Contracts (7 – 1.30) Simple and formal contracts A formal contract is a written contract (such as a deed). A simple contract can be entirely orally or a combination of oral and written. Bilateral Contract: exchange of promise – one promise for another (a promisee’s promise in return for the promisor’s promise or vice versa) o Union Dominions Trust (Commercial) Ltd v Eagle Aircraft Services Ltd [1968] 1 All ER 104 at 108‚ Lord Diplock Unilateral Contract:
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It is an ordinary that Quasi-Contract is a waste paper wicker bin For the transfer of a “heterogeneous accumulation of cases resisting Conventional systems for order; however it is shown in the Succeeding passages that the circumstances is not all that terrible as that‚ despite the fact that there is no "Method of reasoning of Quasi-Contract‚" there Are yet close to three obviously classifiable gatherings in the wicker container which‚ when divided from one another‚ can be interfaced up to " different
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INTRODUCTION A contract may be defined as an agreement between two or more parties that is intended to be legally binding. The first mandatory requisite of any contract is an agreement (consisting of an offer and acceptance). At least two parties are required; one of them‚ the offeror‚ makes an offer which the other‚ the offeree‚ accepts.1 A contract may be defined as a legally binding agreement or‚ in the words of Sir Frederick Pollock: "A promise or set of promises which the law will enforce".
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SALE OF GOODS Nature and Sources of Sale of Goods Law It is principally to be found in the Sale of Goods Act Cap 31 and certain propositions of the English Common Law. The Kenyan Sale of Goods Act is a replica of the English Sale of Goods Act of 1893 as passed in 1963. In addition to the Sale of Goods Act‚ the general rules of contract law apply to contracts for sale of goods. Contract of the Sale of Goods S.3 (1) of the Sale of Goods Act defines a contract for the sale of goods as ‘a contract
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LEGT 5512 LEGAL FOUNDATIONS FOR ACCOUNTANTS SESSION 2‚ 2010 CASE LIST This Case List is not intended to cite every case quoted in lectures and tutorials during the course. Its purpose is to give students a handy citation of a number of leading cases with brief statements to help identify them. This list may not be taken into the Final Examination. 1. 2. 3 Commonwealth v State of Tasmania (1983) 46 ALR 625 Federal and State powers Lee v Knapp [1967] 2 QB 442 “Stop after accident” – golden rule Smith
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ignoring his promise that he would not insist upon his strict legal rights. This essay mainly structures around this principle‚ ‘Promissory estoppel’ and highlights its basic requirements. In the absence of a bargain‚ promissory estoppel and moral obligation are the only grounds upon which common law courts enforce promises. The principle of promissory estoppel came into existence to preclude the necessity for consideration in cases where parties are already bound contractually with each other and
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Define Business Law. Ans: Business Law can be defined as that branch of legal system that regulates business activities and guarantees an orderly conduct of business affairs and settlement of legitimate disputes in a just manner. LAW OF SALE OF GOODS I. Introduction: 1. Define the Sale of Goods Act ? The Sale of Goods Act is an Act to define and amend the law relating to the sale of goods. It also governs the contracts relating to sale of goods. This Act applies to the whole of
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Business Law Lecture 1: Separation of powers: Sources of Law: Common Law judge made law / case law Statutory Law Parliament Parliament: Government Parliament Bi-cameral < State Parliament Government Parliament Upper = Senate Lower = House of Reps State Parliament Upper = Legislative Council Lower = Legislative Assembly Interpretation Of Law: 1. Literal approach (gives literal interpretation to statute’s words) 2. Golden Rule (avoids interpretations that cause absurdities)
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intentions to create legal relations 2. To understand what is an offer and acceptance 3. Explaining the rules for offer and acceptance 4. Explain the importance of consideration 5. Explain the rules for consideration 6. Explain the concept of promissory estoppel Intention to create legal relations Intention to create legal relations • The fact that parties have reached agreement does not necessarily mean that a contract has been formed. • There must be an intention to create legal relations! 1
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shopkeeper. Cases to supports this are Fisher v Bell and Pharmaceutical Society v Boots Chemists. Another area in which the sales of goods are treated as an invitation to treat is advertisement as seen in Partridge v Crittenden. However we have an exception. Case to support this is Carlill v Carbolic where a reward was attached to the advert. This case is treated as an offer because it can be accepted without any future negotiations. Another example where the term of offer is not good valuated we
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