I- Offer, acceptance and consideration
A contract is defined as an agreement enforceable in law between several parties which involves sales of good, services or land. According to Keenan and Smith (2006, 85-110), in order to be a justifiable one a contract needs to exhibit three elements: offer, acceptance and consideration. An offer is considered as the willingness for a party to enter into business with another party. Hence, the acceptance is the mirror image of the offer. It is the decision of the other party to whom the offer has been made ...
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...dy in your possession”. Despite Mr Gibson’s response, his house was removed the house from their maintenance list and sorted it in their purchase list by the council. In effect, Mr. Gibson was told that Manchester city council would not be carrying on business with him (Beale et al., 2008).
The court first gave reason to the plaintiff. Undoubtedly for the court, there was a contract, even if it wasn’t written. Indeed, according to the council there was no need to analyses the contract on the offer and acceptance principles, instead it should be looked at “the correspondence and the conduct of the parties as a whole”. However, this city council made appealed and won the case. One of the reasons is the word written in that letter which didn’t constitute an offer “this letter should not be regarded as a firm offer of a mortgage” (Gibson v Manchester City Council 1979).
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