INTRODUCTION The law of contract is the collection of legal rules which govern contracts. These rules‚ in turn‚ are part of the law of obligations‚ a subdivision of the law of property which is traditionally regarded as part of private law. Private law governs the persons (legal subject) in their personal or private capacity before the law in relation to other legal subjects. In other word‚ private law can be defined as balance and protect legitimate individual interests. Traditionally private
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assignment looks at Contract. Task 1 Part B of this assignment looks at Tort of Law Bilateral and Unilateral Contracts Bilateral contracts are based on promises which are made between two people whilst unilateral contracts offers permits one person to make a promise for an exchange of a completed specified act or task. In order for these two contracts to be legally bind and be valid‚ the terms and
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discussing here is the element of agreement. Both offer and acceptance must contain in an agreement. Offer is defined as the statement that indicates willingness to contract. An offer must be sufficiently complete. Besides‚ a contract should outline the basic aspects of the offer (Duperouzel 2014). An offer of the agreement must be promissory. The agreement must be written in proper way which can inform the offeror‟s willingness to fulfill the terms of the offer if it is admitted (Duperouzel 2014). The case
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proposal or offer. . i) Offer and invitation to treat distinguish. . ii) Intention to create legal relationship. . iii) Cross offer. . iv) Specific and general offer.
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subject is covered by the act but the provision relating to that subject are not exhaustive‚ English law applies by virtue of the civil law act 1956. Element of contract The basic elements of a contract are the following: a) Offer b) Acceptance of the offer c) Intention to create legal relations d) Consideration e)
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formation of a valid contract combined with. Apply the elements of contract in given business scenarios. 1. Invitation to treat “An invitation to treat is an indication that someone is prepared to receive offers with the view to forming a binding contract. It is not an offer in itself. There are four types of invitation to treat: Auction sales‚ Advertisements‚ Exhibition of goods for sale‚ An invitation for tenders” (BPP‚ pg61‚ 2010) The following is an example of Advertisements: Partridge v Crittenden
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Identification of Issue The first issue that need to be indentifies is whether the advertisement inserted by Rashid is an ivitation to treat (ITT) or a proposal. The second issue that need to be identifies is whether there exist a valid agreement between Joyce and Rashid. The third issue that need to be identifies is whether the revocation of proposal made by Rashid is valid. The fourth issue will be the effect of a contract entered into with a bankrupt and what kind of remedies were there have for
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by terms and conditions agreed on when the business was established. The powers they still hold are called contractual powers that if broken can make a contract void. Consensus in Idem Parties have to agree to the same thing and there must be an offer and acceptance that matches the contract subject. A consensus ad idem must be in place before a contract can be formed. This means that there is a meeting of the minds where two sides of a contract must agree on fundamental terms of the contract.
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from one party to the other. The agreement was written and signed by both parties in the presence of their lawyers. a) Do the parties have a valid and enforceable contract? Before a contract is formed‚ there must be agreement consisting of offer and acceptance‚ intention to form a contract‚ and consideration. Without these three elements‚ there is no contract. The first element of the contract is agreement which means “The understanding between two or more legally competent individuals
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Carlill v. The Carbolic Smoke Ball Company. The case of Carlill v. The Carbolic Smoke Ball Company‚ centred around an advertisement which was placed in the Pall Mall Gazette on November 13‚ 1891. The advertisement was entered by The Carbolic Smoke Ball Company and was promoting a “medical preparation”1 which the company had developed‚ called the Carbolic Smoke Ball. The advertisement clamed that “During the last epidemic of influenza many thousand carbolic smoke balls were sold as preventatives
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