Definition Of Relevant Case Law

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Recommended: what are the requirement needed for formation of a valid contract

Definition of Contract: A contract is a relationship created by an agreement between two or more parties and is enforceable by law a contract is created through the process of offer acceptance and consideration. Is like promises but with legally enforceable agreement. It will only form a valid contract under these several fundamental requirements.

Requirement of contract
a) An agreement between two or more parties having the capacity to contract
b) The contract also needs voluntarily entered into
c) There are need to be an exchange or bargain
d) It cannot violate the law or current policy
e) Which is enforceable by law
f) Some contract are required to be writing
g) The contract must be from or supported by four important elements, offer, …show more content…

Revocation takes effect as soon as it is known to the offeree . An offeror may revoke an offer before it has been accepted, but the revocation must be communicated to the offeree. The revocation by post will only be considered as ‘complete’ only when the letter is received by the offeree but not when it is being sent out. Relevant Case law: Byrne v Van Tienhoven(1880)

3. Acceptance: 1) acceptance must be communicated to the offer or if not communicated then how the person would or know that you accepted the offer. 2) The acceptance must be in compliance with any instructions relating to the matter and method of acceptance. 3) The acceptance must not vary in terms of the contract proposed in the offer meaning you cannot change the terms when you are trying to accept the offer.4) the acceptance must occur while the offer is still in effect ; lapse of termination of the offer. Relevant Case law: Hyde v. Wrench Acceptance by post: The Postal Rule Acceptance of the offer is effective as soon as the acceptance is sent and postal rule is applied to letter being posted correctly and telegram hand over to post office .The postal rule provides that acceptance occurs when a letter is posted. Relevant Case law: Adams v. Lindsell 1818

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