The Advantages And Cons And Implications Of A Business

Running a business nowadays without signing a contract is impossible due to the numerous advantages and implications offered by a contract. Indeed the basic purpose of a contract is to offer a framework within which people, entities, can freely contract. For someone who wants to run a business or who is in charge of projects in a company, having an understanding of the common law of contracts and the potential risks associated with it can be the key to avoid many troubles. For example, as marketing manager in charge of a diversification project in new countries analyzes all the potential opportunities and threats that may arise from the new market, it is also important to seek and to identify the law a company is bound by. The purpose of this

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 to enter into contract with the party that made the offer. In other words, an offer is an intention to be contractually bound upon the acceptance of another party. Consideration is a form of remuneration, which is bargained for by both parties and is an important reason for a party entering into a contract, consideration is the value of the exchange between parties who enter in contract. The offer made by the offeror, the person who is making the offer, can be either an offer to a large public or to a specific person. This offer has to be well defined and clear of source of disputes between parties, as it was in the case for Gibson vs Manchester City Council in 1979. In this case Mr. Gibson by bringing his case to the court was seeking a performance of the agreement he thought he has made with the Manchester City Council. Indeed, in 1979 Manchester city council decided to sell council houses to its tenants. To do so, the council sent forms to be filled by the tenants, and on the forms figured the mention: “please inform me of the price of buying my council