As your lady is aware the advertisement identified that the offer was to remain open until the end of March. One would likely presume this meant the offer was open until the 31st of the month and this was the day on which the appellant expressed his wish to withdraw his offer. The 31st however fell upon a Saturday‚ a day on which the shop was closed for trading. The law in question must therefore consider if the remained open until the last day of March or the offer did in fact finish on the last
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Contract By definition under Sec 2(h) Contract Act 1950‚ “an agreement enforceable by law is a contract”. A contract is a promise or agreement between two or more parties that is enforced by law to be legally binding. It may involve a duty to do or refrain from doing something‚ and the failure to perform such duty is a breach of contract. The role of law in a contract is not to punish the breaching party but to provide remedies to restore the person wronged to the position they ought to occupy if
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OPEN UNIVERSITY MALAYSIA FACULTY OF BUSINESS AND MANAGEMENT Course Code: BBUN 2103 Course Title: Business Law Name: Mariyam Anoosha Afeef Student ID number: S11723225 Tutor Name: Ahmed Nasheed Learning Centre: Villa College Trimester: May 2012 INTRODUCTION We enter into contracts that are made orally‚ every day‚ without us even realizing. For example when we buy something from a shop‚ we make a contract with the shopkeeper. However sometimes written contracts are
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This chapter discusses: ● the formation of a contract by one party making an offer which is accepted by another party; ● the distinction between unilateral and bilateral contracts; ● the distinction between an offer and an invitation to treat; ● how long an offer lasts; ● what amounts to a valid acceptance; and ● the requirement that an acceptance must be communicated along with the postal rule exception. Offer or a contract to exist‚ usually one party
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TASK 1- ASPECTS OF CONTRACT AND BUSINESS AND BUSINESS LAW (P1‚ P2‚ and M1) P1 As a trainee Solicitor at Greedies LLP‚ I will be going through the legal criteria for offer and acceptance in this scenario‚ the law in relation to the formation of a contract as well as to analyse the impacts and requirements for a valid contract. Contract- is an agreement entered into voluntarily between two or more parties with the intention of creating legal relations. A contract can be oral or in writing‚ however
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intention that‚ if accepted‚ it shall become binding contract. An offer may be express or implied from conduct. It may be addressed to particular person‚ a group of persons‚ or the world at large. A genuine offer must be distinguished from an “invitation to treat”; i.e. where a party is merely inviting offers‚ which it then free to accept or reject. An offer must be clear and contain the details of the contract; for example‚ if A asks B ‘would you like to buy my car’ and B replies ‘yes’‚ there
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sell and the lowest price stated was merely responding to a request for information not an offer. There was thus no evidence of an intention that the telegram sent by Facey was to be an offer.”[3] It is important to separate an offer from an invitation to
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what constitutes an offer‚ and an invitation to treat. “An invitation to treat is simply an expression of willingness to enter into negotiations which will lead to the conclusion of a contract at a later date” (McKendrick‚ 2007‚ pg33). There is much confusion between the two‚ as shown in the cases of Gibson v. Manchester City Council [1978] and Pharmaceutical Society of Great Britain v Boots Cash Chemists (Southern) Ltd [1953]. An example of an invitation to treat in construction is the tendering
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Offer/Proposal Objectives: Successful students should be able to:- 1. Explain the general idea of law of contract; 2. Distinguish between a contract and an agreement; 3. Outline the elements of a contract; 4. Distinguish the proposal and invitation to treat; 5. Describe the elements of a valid offer; and 6. Explain how an offer may be revoked. 1. Introduction An understanding of the law of contract is of fundamental importance in the context of business practices. In fact‚ even in everyday
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system with regard to the sale of pharmaceutical products which were required by law to be sold in the presence of a pharmacist. The court thus needed to determine where the contract came into existence. Held: Goods on the shelf constitute an invitation to treat not an offer. A customer takes the goods to the till and makes an offer to purchase. The shop assistant then chooses whether to accept the offer. The contract is therefore concluded at the till in the presence of a pharmacist.
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