Law- Offer and Acceptance Enforcement of promises Criteria: 1. Offer and corresponding Acceptance 2. Consideration 3. Intention to create legal relationship 4. Certainty I. Formative elements – will theory of K Offer - an expressionof willingness to contract upon certain terms – binding upon acceptance Requisites: (a) Offer will become binding upon acceptance; and [may be prepared to sell] (b) Nothing further remains to be done If no an offer‚ what is it?
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applies. In the case of Quenerduaine v. Cole it stated where an offer was made by telegram and acceptance by post‚ it was not seen as reasonable that the postal rule should apply and therefore the acceptance took effect on receipt. This links closely to the case of Susan and Manesh as the issue is whether the postal rule applies. Although there was a firm acceptance of the offer‚ the fault came at the post office. Due to the fact that the offer was by email and the acceptance was by post‚ using the case
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and yearly occurrences for many corporations. The cost allocation of the asset is shown through the method of depreciation a company uses. The method a company chooses to incorporate should be one that most effectively matches expenses with the revenues produced. The method that most select is that of straight-line depreciation‚ which "spreads the depreciable value evenly over the useful life of an asset." (Horngren‚ Sundem‚ Elliott‚ & Philbrick 2006‚ p.342) Depreciation schedules reflect how
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Why we should support homeschooling? When people talk about an education‚ most of them automatically think of school. In recent years‚ many people choose school for having an education. However‚ in this modern world‚ school is not considered to be the best idea for studying anymore because some people tend to choose homeschooling instead. Back in history‚ after the 1970s the modern homeschooling movement first appeared in the United State. There were two great men- John Holt and Raymond Moore who
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Importantly‚ it is not the same as an ‘offer’ and it is crucial to distinguish between the two concepts. In order for a binding contract to be formed‚ there must be an ‘offer’ and an ‘acceptance’ of that offer. An invitation to treat is sometimes mistaken for an offer. There are many similarities between an invitation to treat and offer‚ so making the distinction can be difficult. If the validity of your contract turns on this distinction you should consult an experienced contract lawyer.
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Without offer and acceptance there can be no contract and so it is essential that the law provides rules to identify what constitutes both an offer and an acceptance. An offer may be defined as a statement of willingness to contract on specified terms made with the intention that‚ if accepted‚ it shall become a binding contract. An offer may be express or implied from conduct. In many cases it is crucial to determine when and where a contract is actually formed and this too needs rules. In the vast
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• Agreement (Offer and Acceptance) • Consideration • Intention to create legal relations All three scenarios are supported by “consideration”. The general idea of consideration is that contracts involve an exchange in which both parties give something in exchange for the promise of the other. John offers his car in exchange for 10000 euros from Patrick. As the last two steps involved in a contract are met we only look at the agreement‚ if there is an offer and an acceptance
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CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The administration of staff incentives scheme has now become a popular phenomenon of the total personnel policy of any organization. The scheme involves these extra benefits which may not necessarily be money‚ which emanate from the kind relationship of the employer to the employees‚ to supplement their usual wages‚ from time and which are at most times geared purposely towards the enhancement of workers performance in the organization. This
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Commentary 2013 Foreword Greetings from your tax team at Deloitte. The Minister for Finance presented the 2013 Budget Statement on 25 February 2013 and we are pleased to provide our commentary on the tax and certain other changes proposed therein. Overall‚ Budget 2013 offers various tax measures and sets out the strategies to achieve quality growth and build an inclusive society for Singapore. The tax measures are further explored in our commentary. It should be noted that the commentary is our interpretation
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1. OFFER: Ben has contacted Ting in the subject matter of identifiable object GTX which Ting had inspected two days ago‚ he clearly mentioned terms and conditions i.e. $30‚000 cash and showed an intention to be bound by these terms and conditions 1(Harvy v Facey‚ Graw 6th ed‚ pg 41). 2. MERE INQUIRY: Ting didn’t accept or reject Ben’s offer and inquired about the spare parts which is infact a mere inquiry rather than counter offer as Ting has not put forward any new terms to Ben’s offer in
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