Introduction: 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
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2.1 Definition of Proposal/Offer Section 2(a) of the Contract Acts 1950 provides that: “when one person signifies to another his willingness to do or to abstain from doing anything‚ with a view to obtain the assent of that other to the act or abstinence‚ he is said to make a proposal”. Eg: Ali advertised in Malay Mails that he will give a reward of RM100 to anyone who finds his pet. He signified his willingness to do an act‚ which is to pay a reward‚ upon certain terms‚ with a view of obtaining
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dramaturge‚ ultimately exiting the frame of the action to become its director. This surprising exit and her immediate crossing between the space of the action and the space of the theater is prefigured by her marginal position in the household‚ what Albee offers as an allegory for the "American Scene". In her many sardonic epigrams‚ Grandma will position herself—as an "old person—at the margins of human intercourse‚ a figure considered "obscene" in the social theater. For example‚ social intercourse is violently
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CONTRACT (Offer) Readings: Lee Mei Ping‚ General Principles of Malaysian Law‚ 5th Edition‚ 2005‚ Oxford Fajar Sdn Bhd Abdul Majid‚ Krishnan Arjunan‚ Business Law in Malaysia‚ 2005‚ Lexis Nexis Malayan Law Journal Beatrix Vohrah‚ Wu Min Aun‚ The Commercial Law of Malaysia‚ 2nd ed.‚ Longman‚ 2000 Malaysian Contracts Act 1950 (http://www.agc.gov.my/) law of Malaysia/numerical table of laws/Act 1136 Contents: 1. Introduction 2. Contracts and Agreements 3. Offer/Proposal
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From: Head‚ Interviewing team To: Sales Director Subject: Sales Manager‚ Central and Eastern Europe Dear Liz We recently interviewed three candidates for this position. We have decided to appoint Ms Barbara Szarmach for the above position. Ms Szarmach is Poland. She is 30 years old and has a Diploma in Marketing. She has worked for Fast-Track as a sales representative since leaving school. Firstly‚ Ms Szarmach can be a good leader because she has a strong personality. She is energetic
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Offers may be withdrawn at any time up until acceptance. Discuss the extent to which you agree with this statement and analyze the rules which determine the validity of withdrawal. There are two main issues to be dealt with in order to answer this question. Identify what is certified to be a valid offer and a valid acceptance. The second issue is knowing and analyzing the rules which determine the validity of withdrawal. First and foremost‚ to have a valid contract‚ there must be valid
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generally requires there to be an offer and a matching acceptance. The offer must set out and refer to the object for sale and all the important terms of the contract. The acceptance must indicate agreement to all the terms of contract. If it does not do so‚ the acceptance will be regarded as a counter-offer which is capable of rejecting the original offer‚ thereby making it incapable of acceptance later (Hyde v Wrench (1840) CC 49 ER 132). There are two offers‚ the one made by Susan through the
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Offer and Acceptance Offer and acceptance are elements required for the formation of a legally binding contract‚ the expression of an offer to contract on certain terms by one person (the "offeror") to another person (the "offeree")‚ and an indication by the offeree of its acceptance of those terms. The other elements traditionally required for a legally binding contract are (i) consideration and (ii) an intention to create legal relations. Offer and acceptance analysis is a traditional approach
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Question One I agree with Jacquii Rosshandler’s friends‚ she should reject Arthur Shorin’s offer. As an alternative to taking Shorin’s $250k offer and loosing 75 percent of her business‚ I would suggest she explore loan options offered by the U.S. Small Business Administration (SBA). The SBA can help small businesses received loans from banks that might otherwise refuse due to the unsecured risk involved. Cornwall and Scarborough point out that‚ “An SBA guarantee to insure the business loan is
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idem in a legal relation. An offer is a necessary element that must present for a legally binding contract to be in place. An offer and an invitation to treat are two different aspects. An invitation to treat is defined as an action inviting other parties to make an offer to form a contract‚ whereas an offer is an expression made by offeror to offeree communicating the offeror’s willingness to perform a promise. The distinction is important because accepting an offer creates a binding contract
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